4 ms·

The insurance business is the best racket to be in, same as private prison industry. Customers are guaranteed.

• maxerickson 10y ago
  That's all hip and cynical, but I'm pretty sure motor vehicle insurance would be a good business even if states didn't mandate that people carry it. It'd be more expensive for the people that did carry it, but it'd be a large business. And of course, in many states there is the option to post a bond to prove ability to compensate.
  • rascul 10y ago
    You might check out New Hampshire. I don't have a reference handy, but I recall reading that they don't require insurance yet have more people insured than most other states.
• bjterry 10y ago
  That only helps as long as there aren't many insurance companies. If there are many insurance companies, competition between them drives the costs down to marginal cost plus normal profit, in theory.