Insurers' Profits Increased for First 9 Months Of 2006
Personal Injury News Items
For the first 9 months of 2006, the property and casualty insurance industry has again reported record profits. The results from ISO and PCI show that the insurers' profits increased from $29.8 billion in 2005 to $44.9 billion in 2006 - an eye-popping increase of $15.1 billion. These profits look particularly absurd when the actual purpose of insurance companies is examined. Insurance companies were created in order to share risk through a pooled fund. Their only utility arises from paying out claims. Yet claims paid per premium dollar has been dropping for years. The insurance industry is simply a "middle man" who is keeping more and more of the funds that it handles each year.
Moving a flagpole near live electrical wires can be very dangerous. A Grayson County, Texas jury has awarded more than $15.6 million to the families of 3 victims of an accident that occurred while they were moving a flagpole in May 2017. The electrocution killed 1 and injured 2. The property manager of the apartment complex where the flagpole was located was found to be negligent for placing the flag pole too close to overhead power lines. See, An award of $15.6 million for 3 victims of electrocution.
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