Risky business
AskAsa
6/27/2011 2:00:12 PM
I suddenly feel smarter than Warren Buffet
Re: "Insurance" is a (Naive) State of Mind
Broadway
5/24/2011 9:22:34 PM
Ashish, commercial property/casualty insurance had been in a deep soft market for years. In other words, cheap, a buyers market. Commercial p/c insurance is the backbone of global business and economic growth, so dont expect it to go away anytime soon ... even when the insurance market starts to harden (which is happening for some now post-japan.
As for personal insurance, like homeowners, higher rates serve as a warning signal...as in perhaps its too risky to be living a block from the beach in Miami.
Re: "Insurance" is a (Naive) State of Mind
back2basicz
5/21/2011 5:11:59 AM
Broadway,
Basically Insurance is massively over-rated as an Investment Vehicle that serves a soceital purpose.
Its about time,people turned away from Insurance as a concept in its entirety[Which is what will happen if premiums continue to sky-rocket as if there is no tommorow every single year without fail]
Regards
Ashish.
Re: "Insurance" is a (Naive) State of Mind
Broadway
5/20/2011 12:04:16 AM
Ashish, what do you mean that insurance is a bubble? I understand the usual diatribes here that everyone is spouting, but I'm not sure what you're talking about here.
Re: Here's another reason to hate Insurance Companies...
Scott McCaig
5/19/2011 7:12:11 PM
RE: german orgy as reward....
It's hard to pick a single part of this story to be surprised by. Maybe I'll pick the colored wristbands. I guess that's German efficiency at work again.
Here's another reason to hate Insurance Companies...
back2basicz
5/19/2011 3:24:09 PM
If this is the usual way of rewarding the very best salesmen;Insurance companies deserve to be broken up so that they can compete better and provide better service to customers.
http://www.bbc.co.uk/news/world-europe-13454160
regards
Ashish.
Re: "Insurance" is a (Naive) State of Mind
back2basicz
5/19/2011 2:40:01 PM
Street Smart,
I like how your thinking here and think that its a brilliant,brilliant post!!!
Just wanted you to change the title of your post-
"Insurance is the Biggest Scam the Financial Industry has foisted on the General public ever."
Scam artists like Buffet,et all have done a very good job of ensnaring the majority of honest,hard-working Americans for their own narrow benefit.
Its time the public rebelled back.One way is to actually do a concrete and detailed Cost Benefit Analysis on what you would pay for Insurance Coverage against what you would pay if you were uninsured.
In a lot of ways Insurance today is a lot like the Student Loan Industry,another big bubble just waiting to burst and burst big.
Regards
Ashish.
"Insurance" is a (Naive) State of Mind
Street Smart
5/19/2011 12:05:12 PM
My heart goes out to the tornado and flood victims, and I share other's questions about whether it really makes any sense to flood the Atchafalaya Valley in the hopes of saving Baton Rouge and New Orleans. However, I DO NOT feel sorry for the insurance companies in any way!
Having been a homeowner in Southern California, epicenter of earthquakes, forest fires, and mudslides, let me tell you that not only are the property/casualty insurers RUTHLESS about raising rates, they are also increadibly SNEAKY about changing coverage parameters, such as whether they consider you to reside in a flood plain, too near a fault line, etc.
These things can change from week to week and they might never tell you. It is entirely possible for a policy holder to think everything is fine until after the fact when a claim could be denied on the basis of a policy holder having assumed too great a risk.
As an actuary or investor, I can see it from the insurance companies' point of view...maybe. But there is no excuse for the predatory obfuscation and miscommunication techniques they employ to make tragic situations even worse.
Re : Insurance Firms Battered by Storm Losses
yalanand
5/19/2011 12:15:20 AM
It's really worrying factor that property insurance costs are climbing. Falling house prices and increasing insurance costs will make things even worse for property owners.
Re: Don't forget the Refineries & Nuclear Power plants....
Noreen Seebacher
5/18/2011 3:33:00 PM
I know. I keep trying to rationalize the decision to open those gates. But I'm having a hard time understanding how it was considered the best option, given that the results (to spare New Orleans) isn't even guaranteed.
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