The flood insurance program borrowed nearly $25 billion from the government after Hurricane Katrina and industry experts say the money will probably never be repaid.
Under the proposal, the bonds for hurricane coverage would be backed by the government. J. Robert Hunter, the director of insurance for the Consumer Federation of America, warned that after a series of catastrophic hurricanes and earthquakes, the program still might not be able to repay the bonds. “Then it ends up being paid for by taxpayers,” he said
I understand insurance rates in alot of the country are considered competitive, and the profits are still overwhelming. Even with the massive hurricane losses of a year or so ago, insurance rates have not drastically gone up. The oil companies and insurance companies are making incredible money. http://www.phoenix-life-insurance.com
As an industry, we know there is more exposure for personal injury today than in years past,” says Greg Jaynes, AAIS director of actuarial services. “We would like to determine how much. “This study of personal injury claims experience is part of our larger ongoing efforts to monitor emerging exposures that have an impact on P/C coverage.”
Any carrier that writes personal injury coverage can respond to the AAIS data call, whether it is a member of AAIS or not. Companies that provide data will receive a report with the aggregate results, plus analysis.
The flood insurance program borrowed nearly $25 billion from the government after Hurricane Katrina and industry experts say the money will probably never be repaid.
Under the proposal, the bonds for hurricane coverage would be backed by the government. J. Robert Hunter, the director of insurance for the Consumer Federation of America, warned that after a series of catastrophic hurricanes and earthquakes, the program still might not be able to repay the bonds. “Then it ends up being paid for by taxpayers,” he said
I understand insurance rates in alot of the country are considered competitive, and the profits are still overwhelming. Even with the massive hurricane losses of a year or so ago, insurance rates have not drastically gone up. The oil companies and insurance companies are making incredible money. http://www.phoenix-life-insurance.com
As an industry, we know there is more exposure for personal injury today than in years past,” says Greg Jaynes, AAIS director of actuarial services. “We would like to determine how much. “This study of personal injury claims experience is part of our larger ongoing efforts to monitor emerging exposures that have an impact on P/C coverage.”
Any carrier that writes personal injury coverage can respond to the AAIS data call, whether it is a member of AAIS or not. Companies that provide data will receive a report with the aggregate results, plus analysis.