It will be interesting to see how these peanut/salmonilla claims will turn out. Last I read, they were on the hook for $31m large. Enjoy that defense outside the limits coverage! Its gonna cost you big this time!
The Stag is bleeding. The Stag is dying. God love ALLIANZ, they’ll be comin’ to the rescue?
I’ve heard that Hartford will be small biz and personal lines – and Allianz will have Fireman’s Fund as the large accounts or national accounts carrier?
Hartford bought a bank so that they could be eligible for bailout funds? They’re not dead yet! But if they keep writing business cheap, with no underwriting or discretion, even PAPA BARACK won’t be able to save them. (nor Allianz)
While we were sleeping, they came and took it all away. Suddenly the past comes back to knock you around for all the things you thought you got for free. For the arrogance to think that you could somehow rise above the laws of gravity.
And so it is finally caught with the big dogs. At the end of the feast who will pick up the tab?
I remember Ramani saying in 2003 at the manager’s/director’s summit meeting that the stock would be at $100 within 5 years. In fact, he actually got it there. But to what end? They keep their dividends, outsource their jobs, muddy their claims processes by looking for the next best person to make them into Progressive? I’m glad I left, though I feel sorry for all of those still there.
And just how do they underwrite their small business? We just lost a furniture manufacturer to them, and they sold it for 1/2 our price, and allowed the agent to class it as “household furnishings” store. We also lost a manufacturer of electrical components, 2 years ago, and they’ve still got it. Some parts go into aircraft. They have it classed as a hardware distributor.
Are you kidding? Small business? Have you seen waht they are doing in Work Comp? No underwriting, cheap, cheap, cheap, and they pay a great commission.
What is Hartford doing? They are buying business and premium. why? To outrun losses, to improve their topline / premium writings, and to encourage a buyer. It looks good. Can you say ALLIANZ?
Sorry, I’m too busy trying to pass a stimulus bill with $300 million in it to educate about STD’s and contraception, $90 million in it to re-sod the National Mall for the celebration of my next 3 inaugurations, and $445 million to make sure every home, business and church has a life-size statue of ME.
Carla
I believe Hartford bought a Savings & Loan in order to quality for some of the Federal banking buyout money…it is probablly too late for any Federal oversight.
First I just want to thank you and all the citizens of america, of which I am not. for allowing Hartford to buy the smallest bank we could find so we could access your hard earned tax money through TARP.
Second – In an efford to keep Hartford afloat we will be laying off all underwriters and using our new automated underwriting systems and we will be moving all your business you have worked so hard to build to our customer service center in my home country of India. I regret that this comes with a 5% reduction in your commission (33%)
All of these efforts will allow myself to get a bonus this year. Again Thank you in advance for your generosity.
The Hartford has laid off employees and is now outsourcing to India. That is a disgrace!!!!!!
It will be interesting to see how these peanut/salmonilla claims will turn out. Last I read, they were on the hook for $31m large. Enjoy that defense outside the limits coverage! Its gonna cost you big this time!
Carla,
You’re right. It is a disgrace. Now what can be done about it?
Make sure your legislators realize the outsourcing issue when Hartford asks for federal bailout funds!
I hate these “without catastrophe” disclaimers. They paid the losses – investors deserve transparency in the overall results.
The Stag is bleeding. The Stag is dying. God love ALLIANZ, they’ll be comin’ to the rescue?
I’ve heard that Hartford will be small biz and personal lines – and Allianz will have Fireman’s Fund as the large accounts or national accounts carrier?
Hartford bought a bank so that they could be eligible for bailout funds? They’re not dead yet! But if they keep writing business cheap, with no underwriting or discretion, even PAPA BARACK won’t be able to save them. (nor Allianz)
While we were sleeping, they came and took it all away. Suddenly the past comes back to knock you around for all the things you thought you got for free. For the arrogance to think that you could somehow rise above the laws of gravity.
And so it is finally caught with the big dogs. At the end of the feast who will pick up the tab?
would be a real shame if small commercial provided insurance for the peanut account. NOT slick n simple!
Brilliant Ramani, what have you done to your company?
I remember Ramani saying in 2003 at the manager’s/director’s summit meeting that the stock would be at $100 within 5 years. In fact, he actually got it there. But to what end? They keep their dividends, outsource their jobs, muddy their claims processes by looking for the next best person to make them into Progressive? I’m glad I left, though I feel sorry for all of those still there.
And just how do they underwrite their small business? We just lost a furniture manufacturer to them, and they sold it for 1/2 our price, and allowed the agent to class it as “household furnishings” store. We also lost a manufacturer of electrical components, 2 years ago, and they’ve still got it. Some parts go into aircraft. They have it classed as a hardware distributor.
Are you kidding? Small business? Have you seen waht they are doing in Work Comp? No underwriting, cheap, cheap, cheap, and they pay a great commission.
What is Hartford doing? They are buying business and premium. why? To outrun losses, to improve their topline / premium writings, and to encourage a buyer. It looks good. Can you say ALLIANZ?
Sorry, I’m too busy trying to pass a stimulus bill with $300 million in it to educate about STD’s and contraception, $90 million in it to re-sod the National Mall for the celebration of my next 3 inaugurations, and $445 million to make sure every home, business and church has a life-size statue of ME.
You’re on your own, Hartford!
Carla
I believe Hartford bought a Savings & Loan in order to quality for some of the Federal banking buyout money…it is probablly too late for any Federal oversight.
First I just want to thank you and all the citizens of america, of which I am not. for allowing Hartford to buy the smallest bank we could find so we could access your hard earned tax money through TARP.
Second – In an efford to keep Hartford afloat we will be laying off all underwriters and using our new automated underwriting systems and we will be moving all your business you have worked so hard to build to our customer service center in my home country of India. I regret that this comes with a 5% reduction in your commission (33%)
All of these efforts will allow myself to get a bonus this year. Again Thank you in advance for your generosity.