In some cases, corporations engaged in this activity have as much as 16 percent of their profits generated through the holding of 'janitor's insurance.'
Sentiment: NEGATIVE
Private insurance companies in America are reaping huge profits.
Where we're living we have a certain amount of our profit every year it's like a percentage 5 or 7% or something like that that we set aside specifically for charity things.
What the insurance companies have done is to reverse the business so that the public at large insures the insurance companies.
Small businesses pay 18 percent more than big businesses for health care, the same health care, just because they're small and they have too small a pool of risk.
Today we have a health insurance industry where the first and foremost goal is to maximize profits for shareholders and CEOs, not to cover patients who have fallen ill or to compensate doctors and hospitals for their services. It is an industry that is increasingly concentrated and where Americans are paying more to receive less.
We've grown from 18% of the profits of the top 25 companies in our industry to 23% of the profits of the top 25 companies in our industry over the last five years. Profits are up over 70%, where the industry profit is up about 35%. Pretty good.
If you have company-owned stores, you make 100 percent of the profit from each one, but you have less entrepreneurial spirit.
The insurance of working with a big, already successful franchise just gives you the chance to do other things on a more personal level.
The chances of a bank going out of business are extremely slim, but it's always a good idea to spread around major sums so every penny is backed by insurance.
One hundred percent of our earnings are reinvested in the company, and a great deal of that goes to research.