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AIG Crisis Highlights the Need for Insurance Professionalism

National News • October 10, 2008
American International Group's meltdown may serve at least one (if not more) positive purpose: spotlighting the difference between the insurance professional and the non-professional. Insurance ...

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Subject: Some Additional Thoughts

Posted On: October 10, 2008, 9:52 am CDT
Posted By: Big Dog
Comment:
AIG, like many other public companies, addopted the "Gordon Gekko" philosophy - "Greed is good".

Be it from making a quick buck, or from the view that the only thing that is important is to make Wall Street happy, this fits into the "greed is good" philosophy.

AIG, and even many of the multi-national brokers (Aon, Marsh, Willis) have all lost sight of what their purpose is - to provide the finacial protection in case of a catastrophic loss.

Rather than putting the client first, they put greed, and making Wall Street happy first.

Important safety tip - it doesn't work in the long run.
Subject Posted By Posted On
Seriously?? Donna
Oct 14, 2008, 6:31 pm
AIG rosemary
Oct 14, 2008, 1:36 pm
AIG & Ins Professionalism rosemary
Oct 14, 2008, 1:19 pm
RE: You've got to be kidding me... Stat Guy
Oct 13, 2008, 2:36 pm
RE: RE: Some Additional Thoughts Stat Guy
Oct 13, 2008, 2:23 pm
RE: RE: You've got to be kidding me... Dustin
Oct 13, 2008, 12:42 pm
RE: You've got to be kidding me... Obama bin Biden
Oct 13, 2008, 9:16 am
RE: You've got to be kidding me... Matt
Oct 13, 2008, 8:46 am
Commerical Lines Not Profitable Scooby
Oct 12, 2008, 3:33 pm
RE: Insured's have lowered their expectations... wudchuck
Oct 11, 2008, 9:07 am
RE: You've got to be kidding me... Insurance Youth
Oct 10, 2008, 10:41 pm
You've got to be kidding me... The Dude
Oct 10, 2008, 8:31 pm
RE: RE: Dr. Ruth Gill Fin
Oct 10, 2008, 4:21 pm
RE: Dr. Ruth Dr. Ruth
Oct 10, 2008, 4:16 pm
RE: Dr. Ruth Insurance Youth
Oct 10, 2008, 3:50 pm
You hit the Nail on the Head! ~Vee
Oct 10, 2008, 3:16 pm
RE: RE: Some Additional Thoughts Reverend-CPCU,CLU,FLMI
Oct 10, 2008, 3:05 pm
Insured's have lowered their expectations... Gill Fin
Oct 10, 2008, 3:04 pm
RE: Some Additional Thoughts Cheminsurance
Oct 10, 2008, 2:46 pm
It's up to us. Proud Ins Professional
Oct 10, 2008, 1:51 pm
RE: RE: Some Additional Thoughts Hard Market
Oct 10, 2008, 1:37 pm
This is so true! fenkazl
Oct 10, 2008, 1:34 pm
Professionalism Bill Rabel
Oct 10, 2008, 1:21 pm
Insurance Professionalism Dr. Ruth
Oct 10, 2008, 1:11 pm
Great comments Mongoose
Oct 10, 2008, 12:45 pm
RE: Professionalism Dedicated Insurance Girl
Oct 10, 2008, 12:32 pm
AIG -- or PIG Suzie Q
Oct 10, 2008, 12:30 pm
RE: Professionalism That's Right Big Dog
Oct 10, 2008, 12:30 pm
RE: Some Additional Thoughts That's Right Big Dog
Oct 10, 2008, 12:28 pm
RE: Some Additional Thoughts Risk Averse
Oct 10, 2008, 12:28 pm
Professionalism Insurance Professional
Oct 10, 2008, 11:24 am
Some Additional Thoughts Big Dog
Oct 10, 2008, 9:52 am
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