In the first part of this misconceptions blog, we discovered the myths behind the insurance agent. Now let’s dive a little deeper into some of those misconceptions that are often heard about the industry itself. · The insurance Industry is always raising rates because they’re “greedy.” The first step in understanding rates is to shine some light on how insurance works. The insurance industry operates under a type of risk management referred to as a risk pool. In this, risk is allocated among the population with many paying for the losses of the few. On the contrary, when there are … Continue reading
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