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Premium Rating Errors Cost Auto Insurers $16 Billion, Report Claims
National News • December 4, 2008
Premium rating errors by insurance companies resulted in the loss of $16.1 billion of auto insurance premium revenues in 2007, slightly down from the 2006 figure of $16.6 billion — but still ...
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| Subject | Posted By | Posted On |
|---|---|---|
| RE: RE: This is the tip of the Iceberg | Richard McDonald | Dec 9, 2008, 4:04 pm |
| RE: This is the tip of the Iceberg | nobody important | Dec 5, 2008, 12:32 pm |
| This is the tip of the Iceberg | Rich McDonald | Dec 5, 2008, 12:07 pm |
| RE: Premium Leakage Is Real | nobody important | Dec 5, 2008, 12:06 pm |
| Premium Leakage Is Real | Agreed | Dec 5, 2008, 11:38 am |
| This is not 'news', this is marketing... | another guy named Rick | Dec 5, 2008, 8:56 am |
| Math | Direct Writers | Dec 5, 2008, 8:33 am |
| RE: RE: Premium | Anon | Dec 5, 2008, 8:28 am |
| RE: Premium | Betsy Ross | Dec 5, 2008, 7:43 am |
| Do the math | George Washington | Dec 4, 2008, 3:35 pm |
| Premium " Leakage" | Jay | Dec 4, 2008, 12:44 pm |
| Back to article | ||
Subject: This is the tip of the Iceberg
OTR Drivers are putting in more miles, the monthly reports to the carriers are not accurately reflecting the exposure, in most cases - some are very accurate. Tie those accounts to a reporting form on miles or revenue, and see how many Comm Auto Underwriters can accurately asses the rate based upon unverified information?
The bucks involved in losses in this market sector are a whole lot larger than personal auto, and premium is shrinking.