Posted On: July 23, 2008, 1:46 pm CDT

Posted By: Barry Woods

Wouldn't that be ironic. All the insurers that opted to exclude wind under their HO policies having to pay for them because the wind pool goes bankrupt. Insurance is suppose to be based on the law of large numbers. With insurance companies excluding losses because of Wind or Earthquake or Flood they have based their underwriting on the law of few numbers.

Let's look at their profits over the las few years. Their losses are not from paid claims it is from defending themselves from excluded losses and changing engineering reports.