Business: Why Insurance Is High and Hard to Get

THE U.S. is a riskier place than it was only a few years ago. Racial unrest, drug addiction, campus mayhem and rising crime have added not only social hazards but also economic costs to everyday life. When a house is burglarized or a school vandalized, almost everybody has to pay some part of the bill—through higher insurance rates. Changes in society, including the real or imagined decay of moral standards, have also exacted a toll. Insurance executives used to assume that loss claimants were honest; now the presumption is that many people cheat a bit. Greedy motorists and crooked repairmen conspire...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!