Many industries are regulated and have to provide good faith justifications for price increases. The burden of proof is on them, not the service recipient.
I’m not sure you read my post then as it explains I’ve seen first-hand actual loss data because of supply chain & other costs leading to an unprofitable offering being denied by the state without any valid rationale other than “he didn’t see any cars outside his window”.
The point is that regulators have not been allowing rate increases with good faith justifications for years and now that they see their actions have caused companies to pull out they’re pointing the finger at the companies when it’s their poor judgment for years coming to fruition.
Whether this even happened is questionable. Regardless, we trust government regulators to operate in good faith 10x more than private sector corporations.
The point is that regulators have not been allowing rate increases with good faith justifications for years and now that they see their actions have caused companies to pull out they’re pointing the finger at the companies when it’s their poor judgment for years coming to fruition.