The worst thing that Spitzer wants is an industry to agree with him. This political animal thrives off pretending there is uncontrolled abuse in the industry. By saying they “agree” with him makes it appear as Spitzer is irrelivent!
if AIG, being the main “bad apple” was investigated by the individual states, the regulatory violations would break records. Agents, shareholders, insureds, all have been harmed by the ruthless greed of this arrogant behemoth. The insurance industry is one of trust and order; lacking integrity and operating with other people’s money is serious business.
They are stating a truth. You, my friend, are grabbing at straws.
I notice the “Execs” quoted are all in the ‘company’ side fo the business – wonder why!?! Frankly, this entire mess has opend up the gates of ‘reduced commissions’. We have good and bad in every industry (including the legal profession – who watches them Mr. Spitzer…what does an attorney charge you for copies and phone calls and how much is that quarter hourly rate!). Overall, the result of Spitzer’s run for governer will hurt the independant agent. Insurance carriers will now hide behind transparency and use that as an oppotunity for profit by reducing agent commissions. When does the legal, accounting and banking people get investigated…if you think about it, didn’t the bad apples (AIG for example), all get ‘some’ direction and advise from all three of these other industries?
The rates and marketing strategies incorporate sales costs in terms of commissions. If those are eliminated, those costs would most likely be paid to the brokers and agents directly by the insureds. This makes much more sense and does not cut out commissions or contingent income IF regulation is maintained at the state level and regulations continue to be enforced.
This is a more transparent and fair way to allocate the sales and servicing costs of the broker/agent. Those brokers/agents that really provide a service will command a service fee commensurate with their professional service. Others will either end up working for direct writers or find ways to provide value added services to their policy holders.
Val-Pak: Malik Hasan, M.D., State Farm Insurance Co., Cal-Comp Insurance Co., Santa Clara Department of Social Service’s, Santa Clara County Department of Family Services, Santa Clara Department of Revene, Bay Area Credit Services, (accounting), Daniel G. Herns (ESQ), (Law) California Department of Insurance, Industrial Medical Council.
These above all, showed up for their Value-Packed orientation to my discredit and to beyond my social existense.
Terms of service attracted by: cheese dip with streamlined nectary …
“Simplified”: You as a patient do not meet our quality of standards, but your value is of in it self worthy of dollars$, & cents, Medicaid, Medi-Cal is a program you qualify for: See your nearest county welfare office.
What is Less?: – [les] suffix meaning without (valueless); that does not (tireless); that cannot be (dauntless).
Definition of valueless … without worth or value; worthless: valueless stocks; a valueless promise. …
Without the lesion of these mentioned Voyager’s, (Plus, the Heathcare industries: ie: HMO’s, Hospital Corporations, Banks of United who grant less by impairment attributes Like the Like’s of Malik Hasan, MD, Healthnet. This Psychoanalytical tampon needs to never incorporate our healthcare into his control.
So, the lend of this Pakistani quack needs to be NOT lenient either in stress tactics in American insurance industries.
Perhaps you are new to America. In America, we have something called “competition.” With competition, there is not much room for monkey business, nevertheless it happens from time to time. Bad apples get beyond themselves and get caught. I know people from socialist countries such as yourself to not understand our system and how well it works, but give it some time, the more you aclimate yourself to the USA, the more you will realize how great the system is as well as how great our standard of living and quality of life is. Welcome to America!
PS. If you cannot debate me, it is best to tell the world how bad my grammar is,
No it doesn’t mean less commissions. It means brokers can’t get prfit sharing, which they never should have received anyway as they should e representing only the insured, not the insurer.
Banks LONG ago went to full disclosure. get a mortgage, and tell us how many disclosure statements you signed…. hint bring a pen full of ink.
Hank leaves his CFO quits
2 Gen Re plead Guilty
Enron
Banks & Wall Street Gang
pays $5 billion to settle
no criminal against Wall Street Firms
The Enron deals were fraud etc
Gen Re / AIG
in tried to spread results over 3 years
been doing that for 30 years
I still say All Insurance Coys
move out of NY/all employees and
move to states that won’t do what
Spitzer did
nuff said
The worst thing that Spitzer wants is an industry to agree with him. This political animal thrives off pretending there is uncontrolled abuse in the industry. By saying they “agree” with him makes it appear as Spitzer is irrelivent!
if AIG, being the main “bad apple” was investigated by the individual states, the regulatory violations would break records. Agents, shareholders, insureds, all have been harmed by the ruthless greed of this arrogant behemoth. The insurance industry is one of trust and order; lacking integrity and operating with other people’s money is serious business.
They are stating a truth. You, my friend, are grabbing at straws.
I notice the “Execs” quoted are all in the ‘company’ side fo the business – wonder why!?! Frankly, this entire mess has opend up the gates of ‘reduced commissions’. We have good and bad in every industry (including the legal profession – who watches them Mr. Spitzer…what does an attorney charge you for copies and phone calls and how much is that quarter hourly rate!). Overall, the result of Spitzer’s run for governer will hurt the independant agent. Insurance carriers will now hide behind transparency and use that as an oppotunity for profit by reducing agent commissions. When does the legal, accounting and banking people get investigated…if you think about it, didn’t the bad apples (AIG for example), all get ‘some’ direction and advise from all three of these other industries?
The rates and marketing strategies incorporate sales costs in terms of commissions. If those are eliminated, those costs would most likely be paid to the brokers and agents directly by the insureds. This makes much more sense and does not cut out commissions or contingent income IF regulation is maintained at the state level and regulations continue to be enforced.
This is a more transparent and fair way to allocate the sales and servicing costs of the broker/agent. Those brokers/agents that really provide a service will command a service fee commensurate with their professional service. Others will either end up working for direct writers or find ways to provide value added services to their policy holders.
Val-Pak: Malik Hasan, M.D., State Farm Insurance Co., Cal-Comp Insurance Co., Santa Clara Department of Social Service’s, Santa Clara County Department of Family Services, Santa Clara Department of Revene, Bay Area Credit Services, (accounting), Daniel G. Herns (ESQ), (Law) California Department of Insurance, Industrial Medical Council.
These above all, showed up for their Value-Packed orientation to my discredit and to beyond my social existense.
Terms of service attracted by: cheese dip with streamlined nectary …
“Simplified”: You as a patient do not meet our quality of standards, but your value is of in it self worthy of dollars$, & cents, Medicaid, Medi-Cal is a program you qualify for: See your nearest county welfare office.
What is Less?: – [les] suffix meaning without (valueless); that does not (tireless); that cannot be (dauntless).
Definition of valueless … without worth or value; worthless: valueless stocks; a valueless promise. …
Without the lesion of these mentioned Voyager’s, (Plus, the Heathcare industries: ie: HMO’s, Hospital Corporations, Banks of United who grant less by impairment attributes Like the Like’s of Malik Hasan, MD, Healthnet. This Psychoanalytical tampon needs to never incorporate our healthcare into his control.
So, the lend of this Pakistani quack needs to be NOT lenient either in stress tactics in American insurance industries.
Perhaps you are new to America. In America, we have something called “competition.” With competition, there is not much room for monkey business, nevertheless it happens from time to time. Bad apples get beyond themselves and get caught. I know people from socialist countries such as yourself to not understand our system and how well it works, but give it some time, the more you aclimate yourself to the USA, the more you will realize how great the system is as well as how great our standard of living and quality of life is. Welcome to America!
PS. If you cannot debate me, it is best to tell the world how bad my grammar is,
No it doesn’t mean less commissions. It means brokers can’t get prfit sharing, which they never should have received anyway as they should e representing only the insured, not the insurer.
Banks LONG ago went to full disclosure. get a mortgage, and tell us how many disclosure statements you signed…. hint bring a pen full of ink.