Can\’t wait to see the dance Warren does when he has to pay all the claims that are coming out of NJ. Reports are loss ratios approaching 100% before operating expences.
Yeah, I\’ve worked for GEICO for six years and they wouldn\’t have just jumped into writing insurance in NJ w/out making sure we could handle the claims.
Tom you are correct. By the time Mike and Amanda wake up it will be too late. Tom the both of us have been in the business for many years… I laugh at the younger people for they are naive.
They will learn. Warren is going to retire due to the GenRe problem. We all know it. He blames the lower officers for the problem regarding the side letters.
In any of Buffet\’s annual reports, you will notice he is most excited about the investment on \”float\”. It seems BH ventures into insurance revolved around how much float is available. NJ will give BH a good amount of float to work with. As far as claims go, time will tell. Right before Geico entered the market, other carriers started turning a profit due largely in part to reforms passed.
Can\’t wait to see the dance Warren does when he has to pay all the claims that are coming out of NJ. Reports are loss ratios approaching 100% before operating expences.
Untrue… Trust me, We\’re doing great in NJ.
Yeah, I\’ve worked for GEICO for six years and they wouldn\’t have just jumped into writing insurance in NJ w/out making sure we could handle the claims.
Tom you are correct. By the time Mike and Amanda wake up it will be too late. Tom the both of us have been in the business for many years… I laugh at the younger people for they are naive.
They will learn. Warren is going to retire due to the GenRe problem. We all know it. He blames the lower officers for the problem regarding the side letters.
In any of Buffet\’s annual reports, you will notice he is most excited about the investment on \”float\”. It seems BH ventures into insurance revolved around how much float is available. NJ will give BH a good amount of float to work with. As far as claims go, time will tell. Right before Geico entered the market, other carriers started turning a profit due largely in part to reforms passed.