Why Insurance rates are High? In an article in Forbes this month it highlights the unluckiest mariner in the world. Rex K DeGeorge, Rex has successfully lost four yachts his very expensive paintings and of course his cars have been stolen. Insurance is one of those products whereby we are "all connected"! Just like a butterfly flapping its wings in the Amazon can move our weather in Texas someone abusing insurance can effect us all. Rates are high because of people like Rex who abuse the system.