George Soros and auto insurance industry profits - BloggingStocks
Is anyone out there willing to take a guess at exactly why George Soros,
Progressive Insurance (NYSE:
PGR), and most of the rest of the auto insurance industry is so highly motivated to promote the green movement? Do you think it's because they want more trees available for the little birdies to sing in? Is it because someone said we're running a couple quarts low on oil? Could it be that they fear "green house gases" will soon choke us all? Nope, it's about none of those things. It all comes down to percentages, money, and control.
George Soros and his gang, kind of gave it away recently when
Progressive Insurance announced the availability of insurance protection for pets in automobiles. The announcement was colored as a promotional move to entice new customers. I just about busted a gut when I heard about it. The fact of the matter is that insurance actuary tables reveal that by percentage, autos with pets riding in them have fewer and less destructive collisions than automobiles without pets in them. George Soros doesn't give a rat's patootie about your pet. It's all about his own bottom line. In fact, if those same actuary tables showed beyond a doubt that natural blondes had fewer auto collisions than the rest of us, hair color would be a determining factor in calculating your insurance premium and natural blonds would get preferred rates. It's that simple.
So how does this relate to the green movement and auto insurance industry wealth? That answer is simpler to deduce than the pet scenario was. Auto insurers are beginning to sing a tune which promotes carpooling. They say they want you to be concerned about your planet. What they don't want you to consider is the fact that for every day you get a ride to work with someone from your office, you cut the insurance company's risk factor in half.
Think about it gang. You pay auto insurance premiums based on vehicle value, driving record, locale, and term. The only time miles driven factor into the equation is if your miles driven are excessive. If you get a ride to work from a coworker half the days that you work, does your insurance carrier reduce your premium expense by half? I don't think so.