Back in the late 60's I was working for a small Insurance Agency. I was really into learning to have my license for fire and casualty. I learned a lot of the history of insurance how it came about and what it was created for. I was really glad to be a part of a industry that helped people. I mean it really, really helped people.
A few years into working for small agencies. I really thought about starting my own agency. I just needed a steady income as hubby was going to school and trying to work also. I also had two in high school and looking at college, Penni was just starting school and needed me home as much as possible. It was a good thing I didn't. Many of the small insurance companies that I was use to working with were being bought up by corporations. I couldn't figure out why a corporation would buy an insurance company. Insurance companies had to keep a pool of money to pay claims. By law a portion of all premiums had to be kept for the insurance pool. Corporation saw all that money and if they owned that company they could get their hands on the money. All the small insurance companies began to disappear. That forced the combination of companies to get as large and AIG and they began to branch out into all other kinds of finance.
Now insurance companies are dictating if the American public can have health care coverage or not. How can they put profits ahead of people dying and not having any health care. I can't believe in the greed. I know by the insurance industry cutting health care loose it will put a lot of people out of work. I had try another kind of work. It took me 15 years to work my way up in public education. I couldn't work for insurance any more. All I see is the misery their greed is causing.
What happened to people who wanted to help their neighbors by pooling their money to form a insurance company.