This has to be fake. Actuaries and insurance companies are the last people who will put their feelings over the bottom line. They are some cold blooded motherfuckers to even get into that line of work.

This used to be the case, car insurance premiums have skyrocketed 55% since 2020 because of state regulations. While you’re correct on your assessment of how they would run their companies, you forget that liberals have had free rein over most state legislatures for decades now. Michigan is a shining example of this, where no fault was combined with UNLIMITED PIP coverage, forced by the state legislature, underwritten by insurance companies. This skyrocketed Michigan to have insurance premiums 81% higher than the national average. This is a win-win for socialists and car insurance the same way Obamacare and health insurance was a win-win. You’re forced to subsidize others via premiums and risk assessment is almost removed entirely while the company can say line go up.