To Lost:
I am guessing you were non-renewed by Horace Mann? They had to because if they charged you only $600 how can they put reserves aside on a TIV of $200000? They probably would have kept you if they were allowed to triple what they were charging, which is apparently the market price.
The companies you named write nationally. If you owned a company and you have ONE division (lets say, Florida Division #1) that cost you a few hundred millions last year, wouldn’t you shut it down and put it out of its misery? Would you really continuously subsidize it with income from other divisions? Have you met such a businessman?
OK, now I am lost. If all the Ins companies posted record profits for last year, why did my insurance in FL triple? I am in a coastal city but not on the water. I guess they want to make MORE profit? Does the law of large numbers come in here anywhere? Just venting. My carrier non-renewed me and the only insurance I could get was with Assurance. My premium went from $600 to $1,800 annually on a $100,000 home. Tell me the justice in that?
‘Despite four hurricane that hit the Southeast, most of America’s top publicly traded insurers earned bigger profits in 2004 than the year before.
And as big as the storm losses seem, they typically accounted for [only] about 2 percent to 6 percent of all their losses and expenses for the year.’
http://64.233.187.104/search?q=cache:E3cVwGpfGWkJ:www.floridatoday.com/apps/pbcs.dll/article%3FAID%3D/20050306/NEWS01/503060324+many+made+profits+despite+storms&hl=en
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[url]http://64.233.187.104/search?q=cache:E3cVwGpfGWkJ:www.floridatoday.com/apps/pbcs.dll/article%3FAID%3D/20050306/NEWS01/503060324+many+made+profits+despite+storms&hl=en[/url]
They you go again with your cut and paste of others articles, Poe Troll.
To Lost:
I am guessing you were non-renewed by Horace Mann? They had to because if they charged you only $600 how can they put reserves aside on a TIV of $200000? They probably would have kept you if they were allowed to triple what they were charging, which is apparently the market price.
The companies you named write nationally. If you owned a company and you have ONE division (lets say, Florida Division #1) that cost you a few hundred millions last year, wouldn’t you shut it down and put it out of its misery? Would you really continuously subsidize it with income from other divisions? Have you met such a businessman?
OK, now I am lost. If all the Ins companies posted record profits for last year, why did my insurance in FL triple? I am in a coastal city but not on the water. I guess they want to make MORE profit? Does the law of large numbers come in here anywhere? Just venting. My carrier non-renewed me and the only insurance I could get was with Assurance. My premium went from $600 to $1,800 annually on a $100,000 home. Tell me the justice in that?
I believe the reason they can still make a profit, is that they love to pay out! Then they can increase premiums…according to laws…