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Quote by Andrew Tobias

“There are only two things as complicated as insurance accounting and I have no idea what they are.”

Quote by Andrew Tobias

Author

Andrew Tobias, born on April 20, 1947, is an accomplished journalist. His career spans various fields, including finance, technology, and social issues, and he is known for his in-depth investigations and unique insights. more

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“Life insurance in America has traditionally been dominated by mutual insurers. Twelve of the fifteen largest life insurers are mutuals.”

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“Not surprisingly, the insurance lobby recoils in horror at the prospect of automatic coverage (including, when it was first proposed, Social Security), no matter how efficient it may be. Automatic coverage eliminates sales commissions and profit.”

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“The life insurance industry is filled with good people who believe in their work and their companies, but who may never have challenged the assumptions underlying their efforts.”

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“The life insurance policies advertised on the radio with the line "You cannot be turned down for this coverage!" are actually saying, "For policies this small, it would cost us more to decide whom to turn down than simply to accept everybody - and make them pay through the nose."”

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“The first American insurance company was the Friendly Society for the Mutual Insurance of Houses Against Fire, founded in Charles Town in South Carolina, in 1735.”

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“The larger the deductible you choose, the less insurance you are buying. Insurers want to sell insurance.”

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“No wonder lawyers, who control the legal system, have fought so hard, and with great success, against "no fault" insurance. No fault, no lawsuits. No lawsuits, no lunch.”

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“Having no national system of catastrophic health insurance, we have, through the courts, managed to patch together pieces of a not very satisfactory one.”

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“There's no question young drivers have far more accidents than older ones - but is it our aim to keep them off the roads? Or to allow only rich young people (who can afford the premiums) to drive?”

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