RAND Study: Wind Insurance Scarce on Gulf Coast; Challenge for Both Insurers, Government
National News • July 27, 2007
Many businesses along the Gulf of Mexico coast have had a difficult time obtaining wind insurance coverage since Hurricanes Katrina, Rita, and Wilma hit in 2005 and have often ended up paying more ...
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Subject: Another chaotic market and profit opportunity
Posted On: July 30, 2007, 1:13 pm CDT
Posted By: media mogul
Comment:
I don't know--if the tail (windstorm) continues wagging the dog, I'll be able to continue to control my coastal clients (I need some more of them!)and charge more on all lines. Then I can easily pay all my bills, including my homeowners insurance.
If the government gets involved, my income will drop as my commercial premiums drop. (I'll still get to collect commissions on government wind and flood insurance, though). But, with insurance indiscrimnately and surely available, there will be more development along the coast. It is where people want to be. So, I'll get new clients and auditable sales and payroll will increase, and income will increase. We call this economic growth, I think. Maybe our use of the word "growth" is too generous or indiscriminate--after all, fungus and cancer form growths also, and does this growth really further human progress?, but who's to say?.
Government insurance programs often run at a loss, so maybe a bit of my taxes will increase, but I can't tell if it will be more or less than insurance increases in my premiums and in my income in my particular case.
Overall, the chaos of the current situation seems to benefit me the most (I have decided to confuse chaos with freedom and opportunity and profit potential), so the heck with the common good or even with thinking about the common good--make hay while the sun shines, right? Follow your own interests and the aggregate result will be good, right?
Market forces. How wonderful. And so many places for intelligent debate and policy formation to work with market forces effectively for the common good.
I'm getting a headache just thinking about it. Let's not have a method or mechanism for business-like analysis of the situation--let's just pose and posture for short term political gain. I mean, can't we use the Government Accounting Office (GAO) for this? Sorry, it's been so politicized by the current regime and is so busy violating the Hatch act for Karl Rove, that it can no longer be trusted. Sigh!
Well, then, what to do? Let's let interested lobbyist draft the regulations and legislation. It'll be OK.
No wonder we are in the mess we are in. Sigh, again.
As Jean Paul Sartre always used to say--"huis clos!" (no exit) or was it "c'est l'absurd!"?
"Eh, bien," as I say, "Je mange France." Oops-that last bit was yoplait. Now back to my DVD, icre cream, internet and the Simpsons. I'm tired of it and I just can't take it anymore. Lead me Big Brother, please.
Subject: Another chaotic market and profit opportunity
If the government gets involved, my income will drop as my commercial premiums drop. (I'll still get to collect commissions on government wind and flood insurance, though). But, with insurance indiscrimnately and surely available, there will be more development along the coast. It is where people want to be. So, I'll get new clients and auditable sales and payroll will increase, and income will increase. We call this economic growth, I think. Maybe our use of the word "growth" is too generous or indiscriminate--after all, fungus and cancer form growths also, and does this growth really further human progress?, but who's to say?.
Government insurance programs often run at a loss, so maybe a bit of my taxes will increase, but I can't tell if it will be more or less than insurance increases in my premiums and in my income in my particular case.
Overall, the chaos of the current situation seems to benefit me the most (I have decided to confuse chaos with freedom and opportunity and profit potential), so the heck with the common good or even with thinking about the common good--make hay while the sun shines, right? Follow your own interests and the aggregate result will be good, right?
Market forces. How wonderful. And so many places for intelligent debate and policy formation to work with market forces effectively for the common good.
I'm getting a headache just thinking about it. Let's not have a method or mechanism for business-like analysis of the situation--let's just pose and posture for short term political gain. I mean, can't we use the Government Accounting Office (GAO) for this? Sorry, it's been so politicized by the current regime and is so busy violating the Hatch act for Karl Rove, that it can no longer be trusted. Sigh!
Well, then, what to do? Let's let interested lobbyist draft the regulations and legislation. It'll be OK.
No wonder we are in the mess we are in. Sigh, again.
As Jean Paul Sartre always used to say--"huis clos!" (no exit) or was it "c'est l'absurd!"?
"Eh, bien," as I say, "Je mange France." Oops-that last bit was yoplait. Now back to my DVD, icre cream, internet and the Simpsons. I'm tired of it and I just can't take it anymore. Lead me Big Brother, please.