>(Indeed, when it came to light that some insurance companies were just sitting on unclaimed payments for small-dollar life insurance policies, the regulators h

>(Indeed, when it came to light that some insurance companies were just sitting on unclaimed payments for small-dollar life insurance policies, the regulators had them reopen the books going back sixty years.) Doesn't this undermine your point? Insurers were plenty happy to sit on life insurance payments and not even attempt to figure out who to pay them to, thus betraying what you state as their #1 rule and jousting with regulators and the public over actuarially insignificant improvements in their loss rates.