Posted On: August 15, 2008, 7:50 pm CDT

Posted By: Pud

The thing that I think you and I are in disagreement on is Ins Co coming in and saying they make no profit,I respectfully disagree with triple and quadruple digit figure incomes being distributed throughout management!
I have heard no specifics from you except that increases in premiums are a necessity for companies to stay a float.
This is certainly a fact but not in increments that are being requested. I think the Fl Ins Dept has cahoenas for standing up to the status quo.No other state other than California,NY,Wv and now Fl have really challenged the industry as a whole which I applaud!I also agree with you that what you pay for insurance in Fl you do not get the best bang for your buck.The policy coverages are so low in $$ that it's insane.IF you want good insurance in Fl you WILL pay through the nose for that coverage.
Go try to buy insurance in any one of these states!Maybe you sell in one?
I assure you premium increases will continue weather a company does good or bad.I lived in states where the premium went up every year and yet it stated on the bill that I was receiving a discount for being a safe driver yada yada yada,no losses,no accidents,no liabilities but yet due to the risks assigned to the areas I've resided I went from paying $500 a year to over $1200 for auto and now I have half the coverage and twice the deductible,used to have 250 coll ded,no comp ded and full glass now have $500 coll,$500 comp and full glass.IF you are as familiar with the industry as you have indicated you realize the quote (door) of averages in auto TCPC.TCPC has stayed at or around 2500 to 3500 for years!The industry has all but took control of the autobody repair industry which is not far away and that is to control TCPC.I assume it will change at some point if the concierge program proves to be beneficial which it has!
When a dealership charges anywhere from $95 to $110 per hr labor and the autobody industry is enticed to accept $40 to $65 per hr for their trade and consistent knowledge upgrades this is O.K. to keep frompaying these guys what they are worth?
Homeowners same thing.Constant continuing education expenses and building codes changes cost a lot of money and yet some of these people are still working for what they were making 4 years ago.Is that the industries intent is to pay these people more or again is it to put more money in bonus' in the pockets of the companies higher up employees?
The investment portion of the idustry is just that annuities etc.If they do poorly it's because it is economy driven or again poor investments.
Just asking after all you said you were in H.O.and have all this information that contradicts my claims and I'm the dummy!
I enjoyed the dialog with you.Good evening!