> You know those "greedy insurance companies" that the US is struggling to wrangle with complicated legislation and broken website markets? They only make 3% margin.
Of course, that's after paying out executive salaries, including bonuses for "cost cutting".
Executive compensation is subject to market forces. You can't waive a magic wand and cut executive salaries without losing upper management talent and running the company into the ground.
You're missing the point entirely. Executive salaries can be a magic wand for insurance companies to go "look how low our margins are!" by funneling what would've been profits into the pockets of their already highly-paid execs.
Of course, that's after paying out executive salaries, including bonuses for "cost cutting".