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Anon16.28
You miss the point. We have insurance to take account of the events which befall us. If we wipe out the claims and leave the majority without redress that is not going to help anyone except insurers and their shareholders.
It is not the return on investments which drives the increase in premiums. It is the demand of shareholders to improve their dividends.
If claims costs are a minor component- and I believe that they are minor- why trash the system? You are a credulous fool if you think the savings will be passed on by way of reductions in premiums.