AIG Board Refuses CEO Hancock’s 2016 Cash Bonus after Poor Earnings

By | April 17, 2017

  • April 17, 2017 at 3:21 pm
    Agent says:
    Like or Dislike:
    Thumb up 9
    Thumb down 0

    Don’t think we will see him on a corner with a sign saying he will work for food anytime soon.

  • April 17, 2017 at 4:00 pm
    Armando M. Castellini says:
    Well-loved. Like or Dislike:
    Thumb up 11
    Thumb down 1

    Anyone out there that doesn’t understand the public’s attitudes, and beliefs, that those in the insurance industry charge them too much for the meager coverages they receive? Very high-paying positions such as some people receive just do not seem to be earned by the people who receive these kinds of salaries and bonuses add fuel to the fires.

    • April 19, 2017 at 7:34 am
      PolarBeaRepeal says:
      Like or Dislike:
      Thumb up 2
      Thumb down 2

      People who aren’t in the insurance industry or who haven’t studied it aren’t aware of the fact they are buying protection against loss, and are not budgeting for an inevitable loss. Once that is understood, the coverage and price will be perceived as fair. Your state insurance department regulators are employed to ensure that prices will be commensurate with coverage.

      Executives who receive high salaries, whether in the insurance industry or other industries, are paid for the VALUE THEY ADD to the company and thus, to the value of the company’s stock. That is why stockholders provide de facto approval of the hiring and continued employment of executives with rare/ uncommon skill sets & knowledge that enable the latter to run their companies effectively.

      Those executives who fail to deliver on their duties to clients ad business partners, and thus, to stockholders, will be sent packing and be replaced by another, better prepared executive, promoted from within the company, or stolen from another company.

      Socialist/ Marxist college professors and high school teachers spread lies about excessive salaries relative to ordinary workers, and completely ignore the rarity of their skills and value they add to a company AND TO THE COMPANY’S WORKERS AND BUSINESS PARTNERS.

      • April 19, 2017 at 4:08 pm
        Agent says:
        Like or Dislike:
        Thumb up 0
        Thumb down 3

        Polar, there used to be a partnership between carriers and agents back in the day. It seems to be one sided in favor of the company’s as I see it now. They tell you what they are going to do and you adjust to it or go somewhere else. The personnel they have working in the companies are pretty bad now. They are full of Millennials, Gen X, Gen Y and have little or no common sense.

        • April 21, 2017 at 11:40 am
          PolarBeaRepeal says:
          Like or Dislike:
          Thumb up 1
          Thumb down 0

          @Agent; get used to it. All generations coming out of college slowly, sometimes rapidly, adapted to their work over time and became productive. Common sense often takes some time to develop, along with specific sense of work duties. Have patience with them…. some will mature and others will turn to another industry if they don’t evolve politically, philosophically, and professionally. I’ve seen it, again and again, and ended up working in a better environment with the successes of my/ later generations.

          You may be working with companies that don’t want to invest a lot of time and effort in training. Either shift your book or speak to the managers about the level of cooperation and help you receive. I’ve done surveys to help companies/ clients find problems and solve them. MAICGA = Make American Insurance Cos. Great Again!

          • April 24, 2017 at 11:02 am
            Agent says:
            Like or Dislike:
            Thumb up 1
            Thumb down 0

            Polar, what I have noticed is more and more surveys sent to me asking for input on underwriting appetite, claims service etc, etc. Companies don’t seem to want to visit agents in person anymore and hide behind surveys. Don’t know how much good that does.

  • April 17, 2017 at 7:38 pm
    Mo Greenberg says:
    Like or Dislike:
    Thumb up 4
    Thumb down 0

    I wonder if Pete is reflecting on his town hall meeting where he informed the staff Not to count on lifetime jobs.

  • April 18, 2017 at 7:05 am
    PolarBeaRepeal says:
    Like or Dislike:
    Thumb up 4
    Thumb down 1

    He deserves a bonus for keeping AIG afloat. Give him a coupon for a free Big Mac.

    • April 18, 2017 at 3:53 pm
      Agent says:
      Like or Dislike:
      Thumb up 3
      Thumb down 1

      Hit the road Hancock and don’t you come back no more no more.



Add a Comment

Your email address will not be published. Required fields are marked *

*

More News
More News Features