Gill Eapen's Blog, page 93

Insurance gouging

Gouging is an activity that extracts unfair profits in a monopolistic situation. Many policy makers and the public in general were worried about gouging when gas prices showed high volatility, last summer. A worse form of gouging is going on in the insurance industry that most seem to be unaware of. For example, major healthcare insurance providers routinely increase premiums 10-15% per year. Recently, a major insurer announced that they are going to increase premiums by 25% for no apparent r...