Here we go again. The industry is about to shoot itself in the foot, again. Don’t you want to make an “underwriting” profit (I know this is a foreign concept to managers in the business under 20 years)? Top management really needs to look at itself and stop the madness. If the industry can’t police itself from making wide swings in premium, I can assure you to liberals in government will. If an underwriter can’t underwrite for a profit, then they have no reason to be employed. Who will have the hutzpah to stop the madness (or will a Spitzer have to step in)?
I agree with Jimbo, as soon as the stock
market rebounds, back to cash flow underwriting, then when the stockmarket goes down, “those bad Agents writing that bad business again”…. History doesn’t repeat itself, but people who fail to learn from it does.
Maybe now that the carriers don’t have to pay out all those nasty contingency checks, underwriters can afford to reduce rates and still turn a loss.
Makes sense to me. Who knows, maybe for their next act, a flood of carriers will jump into NJ WC, FL Property and delete the Armegeddon exclusion without renewal of TRIA.
Article mentions fairly stable Auto Liability. What are people’s thoughts on this? Progressive has been cutting rates in NY….do we think this is a blip? How much do we think Auto will drop?
Here we go again. The industry is about to shoot itself in the foot, again. Don’t you want to make an “underwriting” profit (I know this is a foreign concept to managers in the business under 20 years)? Top management really needs to look at itself and stop the madness. If the industry can’t police itself from making wide swings in premium, I can assure you to liberals in government will. If an underwriter can’t underwrite for a profit, then they have no reason to be employed. Who will have the hutzpah to stop the madness (or will a Spitzer have to step in)?
I agree with Jimbo, as soon as the stock
market rebounds, back to cash flow underwriting, then when the stockmarket goes down, “those bad Agents writing that bad business again”…. History doesn’t repeat itself, but people who fail to learn from it does.
Maybe now that the carriers don’t have to pay out all those nasty contingency checks, underwriters can afford to reduce rates and still turn a loss.
Makes sense to me. Who knows, maybe for their next act, a flood of carriers will jump into NJ WC, FL Property and delete the Armegeddon exclusion without renewal of TRIA.
Article mentions fairly stable Auto Liability. What are people’s thoughts on this? Progressive has been cutting rates in NY….do we think this is a blip? How much do we think Auto will drop?