Incorrect. It is not required that people go to casinos or any entity enter into interest rate swaps. Consumer purchases or store promotions also aren't required.

To drive it is required that you have insurance. The problem with your statement about the actuarial departments is that there is no proof or oversight that the insurance companies are applying actuarial data when setting rates.

I have had quotes that ranged from X to 8X for the same coverage, in the same home on the same car. Those results certainly do not arise from actuarial data. Those rates arise from either redlining or a company unwilling to do business in the city so they charge rates so absurd nobody would purchase their services.

This, from an industry that is supposed to be regulated by our state. I'm sure people would be up in arms if DTE started charging people in the boonies 10 times as much but presented no evidence to justify it.

Insurance should be regulated the same as utilities. People in suburbia get their panties in a bunch if their water bill goes up $2 but Detroiters are just supposed to accept the fact that insurance companies are operating ethically.

Give me a break.