johnny2shoes
Registered User
- Messages
- 42
The exorbitant profits in millions being posted by the big boys here
Since when is South Africa a socialist country?In South Africa, as far as I know third party claims are covered by the state funded by a tax on petrol. You can buy cover for own damage from insurers but it’s not compulsory.
Ireland is on its way to becoming one of the most socialist countries in the EU just look at the main political parties policies, in the coming years all wealth that cannot be moved will get hammering to pay back for their reckless policies,Since when is South Africa a socialist country?
There are only 4 socialist states.required under socialist regimes
Thank you..........yes it doesThere are only 4 socialist states.
Cuba
People's Republic of China
Vietnam
Laos
3rd party insurance is mandatory in all 4 of these countries.
Allianz for one operate in Laos and China. They operate in Vietnam via joint venture.
Axa and Zurich have the 4th & 5th largest market share in China in a market that only has foreign players in the last 20 years.
US sanctions prevent most companies having any business in Cuba.
Does that answer your question?
Meanwhile, insurance is not mandatory in the state of New Hampshire in the USA.
Yes it does...........thank youThere are only 4 socialist states.
Cuba
People's Republic of China
Vietnam
Laos
3rd party insurance is mandatory in all 4 of these countries.
Allianz for one operate in Laos and China. They operate in Vietnam via joint venture.
Axa and Zurich have the 4th & 5th largest market share in China in a market that only has foreign players in the last 20 years.
US sanctions prevent most companies having any business in Cuba.
Does that answer your question?
Meanwhile, insurance is not mandatory in the state of New Hampshire in the USA.
The companies you list are exceptions and bad management caused their downfall. imhoWhich big boys?
Or do you mean the exorbitant profits made by the big boy legal firms?
Or the exorbitant profits made by the big boys with whiplash?
Maybe you are referring to the big boys in Quinn Insurance, PMPA, ICI, Quodos, Enterprise Insurance Company or Setanta?
They made such exorbitant profits that they couldn't cover the cost of claims against them and the taxpayer and other insurance companies and their customers had to pay their claims for them.
Brendan
No, they fell because the premiums they charged were not high enough for the very risky business of writing insurance in this country.
The problem with the accusations of profiteering is that it distracts attention from the real causes of high insurance and so we fail to tackle them properly. The legal profession and scammers get off the hook.
Brendan
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