Yep, that's about it. Or even worse, from the carrier's POV, regulators would take the higher profits from this year to regulate rates for the future (carriers

Yep, that's about it. Or even worse, from the carrier's POV, regulators would take the higher profits from this year to regulate rates for the future (carriers file their target "loss ratios" with states, and if it deviates substantially, prices have to be adjusted).