Lower Insurance Rates Now
Insurance rates are set by adding all the claims that were paid, overhead, expenses and profits and then dividing that amount by the number of people who buy policies. The Trump tax cuts lowered the expenses of every for profit insurance company, and most of the insurance companies , even the "blues", are for profit.
P&C Pricing Should (Eventually) Reflect Lower Taxes: The P&C insurance industry’s longstanding track record of price competitiveness (other than when underwriting and expected returns are obviously inadequate) strongly suggests that the bottom-line benefits of the tax bill will be competed away
If the Insurance companies weren't so powerful, the Insurance Commissioner would order rate reductions, much like the utility commissioners have ordered lower utility rates
for a hearing on why insurance rates have not yet been lowered.
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