Common Dreams NewsCenter

We Can't Do It Without You!
 

Home | About Us | Donate | Signup | Archives | Search

Home > Progressive Community > NewsWire > For Immediate Release
   
Printer Friendly Version E-Mail This Article
   
Consumer Federation of America

FOR IMMEDIATE RELEASE
JANUARY 8, 2007
10:00 AM

CONTACT: Consumer Federation of America
J. Robert Hunter, 703-528-0062
Travis Plunkett, 202-387-6121

 
Insurers Increase Profits to Record Levels by Overpricing Policies and Shifting Costs to Consumers and Taxpayers
 

WASHINGTON - January 8 - National consumer organizations joined the Consumer Federation of America today to release a new study concluding that the property/casualty insurance industry (which includes the nationís home and auto insurers) has dramatically increased profits and surplus in recent years, in part by systematically overcharging for insurance and shifting costs to consumers and taxpayers. The report provides extensive data demonstrating that property/casualty insurance companies are paying out lower claims in relationship to the premiums they charge consumers than at any time in decades. The combined ratio, the relationship of all paid claims and expenses to the premiums that insurers collect, appears to be the lowest on record in 50 years. This indicates the highest profit levels in recent history.

ďA copy of the report can be found at: http://www.consumerfed.org/pdfs/White_Paper_release.pdf.

###

Printer Friendly Version E-Mail This Article
Common Dreams NewsCenter is a non-profit news service
providing breaking news and views for the Progressive Community.

The press release posted here has been provided to Common Dreams NewsWire by one of the many progressive organizations who make up America's Progressive Community. If you wish to comment on this press release or would like more information, please contact the organization directly.
*all times Eastern US (GMT-5:00)

Making News?
Read our Guidelines for Submitting News Releases

CommonDreams.org is an Internet-based progressive news and grassroots activism organization, founded in 1997.
We are a nonprofit, progressive, independent and nonpartisan organization.

Home | About Us | Donate | Signup | Archives | Search

To inform. To inspire. To ignite change for the common good.


www.commondreams.org