…the total number of average claims that could have been paid if they hadn’t spent money on the prime time TV commercial featuring actors and pro athletes, etc
…the total number of average claims that could have been paid if they hadn’t spent money on the prime time TV commercial featuring actors and pro athletes, etc
That argument works for like, Pringles, not something you generally are legally required to have. If they’re required to spend money on advertising just to remain competitive, that sounds like you could severely restrict all insurance company’s ability to spend on advertising and save everyone money.
It works with things you are required to have as well.
Insurance is a varied field from legal minimum insurance to something that will actually protect your family. Since it is so varied, advertising helps being people in. I know there are a couple of car insurance companies that don’t advertise, but they are also very picky on who can get their insurance.