Home > Talkback
Southeast News

Viewing comments for:

Fla. Insurance Commissioner McCarty Issues Subpoenas to 17 Reinsurers

Southeast News • April 25, 2005
Florida insurance regulators are probing the dealings of 17 reinsurers selling finite risk policies. Florida's Insurance Commissioner Kevin McCarty said that he has issued investigative subpoenas ...

Insurance Journal is not responsible for the content of the message below.

Subject: RE: finite re-insurance

Posted On: April 26, 2005, 5:32 pm CDT
Posted By: Lachlan
Comment:
How can you ask the question 'what is wrong with it?'? The finite reinsurance supplied by GenRe to FAI was a major contributor to the HIH collapse - fudging the bottom line to mislead investors, shareholders, customers and regulators isn't good business practice. Look at the end result here. Finite re wasn't the only contributing factor but it was one of them, and not a minor one at that. If this sort of "insurance" wasn't available, then solvency would be much simpler to assess and the results of the assessments would be more accurate. It isn't reinsurance at all. It's simply a method of paying a sum of money for "insurance" that can never be claimed on - there is no transfer of risk and therefore how can it even be classed as insurance?
Subject Posted By Posted On
RE: subpoenas surev0
Apr 27, 2005, 8:11 am
RE: RE: finite re-insurance Mr Index
Apr 27, 2005, 2:48 am
RE: finite re-insurance Lachlan
Apr 26, 2005, 5:32 pm
RE: subpoenas b altman
Apr 26, 2005, 2:51 pm
subpoenas cliff mckelvy
Apr 26, 2005, 1:19 pm
finite re-insurance Mr Index
Apr 25, 2005, 11:26 pm
Back to article

Post a Comment

.