> For every dollar in home and auto premiums they collected last year, insurance companies paid an average of $1.10 in claims and expense

I'm sure this is technically true but they've carefully worded this. Most home insurance companies carry reinsurance. This means, they get an insurance policy to cover some of their losses when there is a major storm or something of that nature.

Here in Florida, it's common to see home insurance premiums doubling in the latest billing cycle. That doesn't line up with the rate of inflation.