[31835843]

And this is only true in a markets that are easy to enter. Starting an insurance company isn’t easy.

Why are profit margins only 5%? Could be many reasons, including collusion. Insurance companies have teams of lawyers whose job it is to navigate existing regulation, lobby for new ones and to push for ones that hurt competition.

Given how shady and complex the entire industry is, we don’t really have a reason to believe that 5% is an accurate number.

[lotsofpulp]

Stating that SEC filings for an entire industry are fraudulent across 7+ large companies with tens of thousands of employees each is a pretty serious accusation that I cannot entertain without proof. The other option is I stop trusting in the whole system.