The last few insurance companies Ive delt with seem to act more like banks giving loans. Twice now, they have priced premiums for our company policy low in the

The last few insurance companies Ive delt with seem to act more like banks giving loans. Twice now, they have priced premiums for our company policy low in the first year before increasing them the following year based on how much was claimed. One agent actually admitted it was to "recoup costs". We joked that the meme where actuaries were being replaced by machine learning was actually just the insurer firing actuaries because they figured out they could just demand the money back from the client after a claim.