Did you know the original model for insurance was to get a loan for enough to cover your clients losses and charge them premiums enough to cover the cases where

Did you know the original model for insurance was to get a loan for enough to cover your clients losses and charge them premiums enough to cover the cases where a payout is required plus the interest on the loan? To make a profit you would invest a portion of that capitol as not everyone's house will burn down at the same time. That all changed in 1945 when The McCarran-Ferguson Act exempted insurance companies from antitrust law and then companies began sharing information to set prices, now they make around 20% profit on the premiums as well as you cited.