Well, that is quite a lot of comments regarding my 1st post. Here are my insights after reading this.
The essence of a good economy remains on capitalism. Capitalism refers to “capital” meaning the source of wealth comes from finance companies–banks, insurance companies, thrifts, etc. These organizations give money to businesses in turn creating wealth. Despite record bonuses by some investment banks, commercial banks are still showing record losses. The President deserves credit for putting a proposal to put greater faith in our financial institutions similar to what FDR did by establishing the FDIC in the Great Depression to minimize bank runs. The original proposition put forth by Secretary Geithner would have allowed a public-private partnership where private companies could buy some bad debt in coordination with the government and gain on its upside. These would take the “bad risks” off a financial institutions books and make financial institutions from allocating money to businesses that need it and in turn will get the economy going. Companies (and the government’s investment) would be minimized to their initial investment, and they would gain the potential of a possible upside in their investment.
This in turn would lead to companies looking besides price when looking at their general liability premiums.
Also, despite flaws, the President has put forth a health care reform plan that is workable. Massachusetts has brought forth a model similar to what is found in the Dorgan health care bill. While costs remain high, the percentage of state residents are covered is over 98%. This is well above the national average. With people having health care, they are more likely to see doctor earlier for preventive care instead of eschewing a doctor and costing the health care system more money. The health care bill can’t be that bad if Bill Frist supports it. He is a leading thoracic surgeon, and his family still has an interest in HCA.
The President’s plans are in need of development as plans were not fully implemented. Stimulus money still has not hit major construction projects in key areas, and in every state except Louisiana there has been a steady decline of construction related employment.
Insurance brokers and carriers are still in a race to the bottom. With the lack of a major catastrophe, I am sure the property market will start to soften even more. Furthermore, carriers are still posting above average profits (such as Traveler’s today). Until losses develop, capacity shrinks and the economy starts improving…we are in for a long soft market.
The general liability market will not improve until the economy moves out of the doldrums. Firms are looking mainly at the lowest priced premium simply to stay in business.
Coverage differentiation, terms and conditions are not stressed.
Better economic conditions combined with some firms exiting less profitable business will lead to a tightening of the market….
What’s amazing is the number of carriers that have remained aggressive in pricing. There is no shortage of players in quoting most types of accounts. May the best agent win.
Sadly, as long as Obama is president, the economy will not improve and will in fact, only get worse. 4 years of Obama will be a complete disaster for the country.
He knows nothing of economics, makes capitalism the bad guy, leaves our troops exposed with no support yet has time to bash a news organization, the chamber of commerce, insurance companies, go on Letterman, take his wife to all points for a date, play basketball, golf, make an *** of himself trying to get the olympics in Chicago, etc,etc, etc.
Matt, Maybe if you got laid off this year you would change your mind about Obama.
Nothing has been done in the last 9 months to stimulate the economy and create new jobs. Only threats to increase taxes and widespread class warfare (Envy)
As a matter of fact he has continued everything the liberals hated about Bush, except he cannot decide for himself what to do. He looks like a community organizer who got elected president. Oh wait, thats exactly what happened.
Obama doesn’t think insurance companies, or any businesses for that matter, should be earning profits anyway. Has anyone bothered to tell Obama (or could he perhaps wonder for himself?) how many Americans are employed in the financial services and insurance industry, industries he has hatefully bastardized publicly? What kind of leadership is that?
To anyone who voted for Obama: You caused the problem, now we all have to live with it, for a long time to come. Yes, the economic downturn began under Bush following the collapse of the housing market, but the policies put forth by Obama and his inexperienced advisors have significantly deepened the problem, and caused everyone to wonder “what’s next”? Who invests when they don’t know “what’s next”?
Obama, as a former community organizer, knows only how to avail himself of free government handouts. It’s no wonder, he’s busy giving free handouts, and demonizing anyone with hard earned money. This presidency is like a bad dream, a bad reality show, and we will not wake up for 3.5 more years.
Hey E&S people you forgot to blame the Balloon Boy hoax on Obama…that’s probably his fault too, I tell ya…and the lousy officiating in the ALCS…all Obama.
But seriously folks, I have an insurance question: Are any brokers pushing the concept of 3 year rate guarantees on renewals and new business? This was something I witnessed in 1999 and 2000.
Companies/Underwriters worried about their top line tend to agree to such things on certain accounts.
I am not giving an opinion on the concept but it is something I saw as a pre-curser to hard market pricing. Anyone?
E&S woman…the housing crisis may have surfaced under Busch but irresponsible policies by Carter, Clinton, Barney Frank, Chris Dodd started the ball rolling..a “chicken in every pot” a home for everyone..whether or not you could afford it!!!
Actually, it’s Obama and the dems that blame Bush for everything wrong in the world.If you have a sore throat, they blame Bush. I just listed facts.
3 year policies with locked in rates were a great deal for the consumer but terrible for carriers. Let’s hope we learn from mistakes of the past.
The market will mostl likely not turn for a while. I’ve been at this now for 35 years. Worst I have seen because even when you could slash rates and make an u/w profit at a 120 combined and put it in a CD making 18% to 20% at least companies were not going under at the rate they are today and once we get the peanut farmer out of the WH and Reagan came in to save the economy, things were just great.
Are there any among us who wouldn’t love to have those days back again???
Actually, a case could be made against the Federal Reserve (which is not beholden to the President’s wishes) and their policies to keep interest rates low through boom times, which occured under a Democratic administration by the way. This was a significant element in causing the housing crisis. The Clinton administration sought to focus the first 4 years on reducing the deficit, which was a surplus by the time he left office. And for the next 8 years, bye bye surplus. Why is it that the Republicans get the rep of a financially prudent bunch when the deficit under the last 3 Republican administration just went higher and higher? And the last Bush, did not even bother to put Iraq war spending into the budget. How did he get away with that? Oh yeah, he had help from his party’s majority in the House and Senate. I have yet to hear a well thought out Republican proposal to deal with this current basket case of an economy other than “just cut taxes”. Taxes were cut under the last Bush administration for folks making a lot more than most of us on this site. Why did the economy get worse instead of better. “Trickle down economics” don’t work!
Hey genius. Reagan did not save the economy. Paul Volcker did. He kept interest rates high, which had the two pronged affect of curbing inflation and puting money in people’s pockets with generous CD and money market rates. Take of the supply-side glasses. Those policies do not work. Give Reagan credit for out-spending the Soviets. It definitely put a hurtin’ on their economy. Good for him and us. The obvious cause of outspending the Soviets would be a huge dificit. He should not have compounded that affect by lowering taxes on rich people at the same time. Is a rich guy with an extra million from a tax cut really going to go out and buy another washing machine and sports car when he could have afforded something like that anyway?
E &S Man. You nailed it. At this time I am reading The Reagan diaries. Intersting reading. It’s brining it all back and I highly recommed that everyone read that book.
Hey, you whine about deficits when you current BOY has exceeded EVERY other President in spending COMBINED! This guy will make Jimmy Carter look like a dream. Reagan DID bring back the American People to personal responsibility. When will we see that again? Bush 2 had HALF a GOP majority in the second term. You deal with 9/11 and I am confident the U.S. would have been HIT again. Obamination WILL cause another successful attack on this nation with his Chicago Bribe anyone politics. Chicago has been a mess for 40 years. That mentality on a national level will kill our economy.
Do NOT speak badly of Reagan! He SAVED a total mess created by Obama #1 (Carter).
This Obamination will exceed ALL democrat messes combined. You happy with the Hope and Change so far? You can not be if you work. Obviously, you must NOT work.
Your paycheck (if you get one) will become 30-40% less when this liar in the WH gets done.
Sit tight. The ONLY thing demo’s know is tax and spend. They ruin entire industries with Unions which served a purpose 40 + years ago and are or should be totally obsolete NOW.
Wake up. If you actually work and make a profit, you will not be defending this community organizer very soon.
He will be the downfall of this country until we can get him OUT!!!
I do agree that there’s opportunity to slow the adverse trends by throwing out congress next year, but so much of the depressing, oppressive, repressive, welfare mentality of Obama is not even legislation….just simply badmouthing our country and our successful businesses and industries – like he knows more than we all know……like we needed him to “save the country” and “save the world”….like we couldn’t possibly have survived without his Harvard intelligence. I know people with a GED that run successful profitable businesses that could teach him a lesson.
And this post IS about the P and C insurance industry…and every other industry (besides road construction) that are going to struggle and fail under this LOSER OF A PRESIDENT.
I am not even a huge fan of Obama. I just want to give the guy a chance and judge his actions after he has been on the job a few years. Tell me, what specifically has Obama done in the last year, to make your life that much worse? Be specific. What has happened to you and others to make your lives so much worse? Again, be specific. Other than a bunch of paranoid rantings of the Glen Beck Sycophants like yourself he has not caused anything. You guys are in control of your own paranoia. Nobady else is. Why is it that your only argument against me is that I am an idiot? I don’t agree with you, ok? It’s all this or that will happen… Chicken Little! Your post is devoid of any fact that would lead an objective person to believe that Obama is the bad guy you say he is. You just don’t like him. Leave it at that, unless you can formulate an objective (not alarmist) argument. I did not say anything bad about Reagan. I only stated that he did not save the economy. He didn’t. The Federal Reserve did. He did outspend the Russions, which he deserves credit for. Raising taxes at that time was not a smart thing to do….Do your homework and re-read my post. Remember that those who tend to scream the loudest in arguments such as these don’t fully trust their logic so they must scream louder than the rest of us…sounds like Limbaugh, O’rielly, and Beck if you ask me.
I did not say anything bad about Reagan. I only stated that he did not save the economy. He didn’t. The Federal Reserve did. He did outspend the Russions, which he deserves credit for. LOWERING taxes at that time was not a smart thing to do..
Funny…I don’t remember Obama saying he was going to “save the country”. Maybe there are just a bunch of folks in a worse state than ever. If people feel he has to “save the country” he is already place in an unwinable position. People need to be fair to the guy and let him do his job and judge him later….
Guys, guys !
Yeah, we can blame Obama, but the REAL blame also lies in the government which let Fannie Mae & Freddie Mac write those crappy “liars loans”.
This coupled with the blatant dishonesty of the dollar-barons on Wall Street and their packaging (bundling) of these & other worthless “investments” took down the whole house of cards.
Obama: -where’s he comin’ from ??
What “change” ? ?
It took him 5 months to select a dog for his kids.
He still hasn’t been able to find a new church (or minister for that matter)
ALL he’s done was to serve a beer to a white cop & a black professor and, oh yeah…-the Cash for Clunkers circus.
He said it would benefit the government.
Sure it did
It benefited the Government of Japan !
Obama: no change, no sense, just spin
It’s not a simple dislike of Obama. It’s a total disgusting despise of him for the following factual reasons:
1. The first thing Obama did was sign an executive order calling for the closing of Guantanamo, and later a calling for terrorists to be given the same rights at US citizens, and wanting them moved to Leavenworth, KS. This was his attempt at getting the world to rally around his moral superiority, and it hasn’t worked.
2. Secondly, he enacted a wreckless spending bill, which is giving massive handouts to the low income …in the form of appliances, mobile homes, free insulation for their houses, and otherwise.
3. Thirdly, he supports the climate legislation negligently drafted by the House of Representatives which will not only destroy our economy, but will simply transfer wealth and power to the government. (he did however add a provision for the low income, so that they did not have to pay for any increases in energy expenses – just “those that can afford it” – read the bill).
4. He, in a position of utmost authority, and should- be- respect, wrecklessly calls an honorable white police officer “stupid” when merely carrying out the duties of his job when a black man was actually acting “stupidly”.
5. He veils a massive expansive of welfare in the term “health reform”.
6. He publicly decries the greed of US Corporations, in numerous industries. You don’t “motivate the troops” by destroying them. The US government is FUNDED by PEOPLE and COMPANIES, and HE NEEDS THOSE PEOPLE AND THOSE COMPANIES TO BE SUCCESSFUL, BUT HE FAILS TO GET THAT.
7. He is “too busy” to answer the needs of the military in Afghanistan, who are crying for more troops, because he is flying to Denmark to promote Chicago for the Olympics in 10 years, likely for some form of personal benefit to himself when he returns to Chicago.
8. He is – for now – heavily supported by labor unions, which have destroyed the US Auto industry as well as the city of Detroit.
9. He is arrogant.
10. Check the nightly news…there’s a new reason every day…and not Fox…try CNN, ABC, CBS or NBC….all of the above are Factual reasons why I do not like this man.
He is an ineffective leader and a poor politician…..You are a poor politician when you cannot get people to follow you, and he’s having a hard time getting anyone to run with his agenda, except Nancy Pelosi and Harry Reid.
Can you IMAGINE what would happen if Obama turned out to be the second coming of the messiah? All the whack job fundies would die of shock.
But in seriousness, wasn’t this article about lower broker revenue in 2010 due to a continuing soft market coupled with reduced sales/payroll exposures? Somehow after less than a year in office I don’t really think you can pin that one on Obama, perfect as he is. Almost as perfect as Tim Tebow, even.
That is a joke by the way. Boy people get riled up about King Obama on here! You would think from the comments that he personally spawned hurricane Ike with his evil hands. I am pretty sure he broke into my house and stole food from the pantry, too.
Back to the article…..
What are other brokers doing to offset loss of revenue? In particular if you specialize in full-service brokerage with risk management/LP seminars etc.
It is difficult to compete in a price oriented market in the recession. Even long time customers who understand and value these services no longer feel able to afford them via a somewhat higher premium. They feel forced to go with the lowest cost option even if it might be with an agency and carrier that doesn’t understand their business and cannot provide the services necessary to keep loss performance and premium low in the long term.
We are challenged by the new development and are considering only offering certain services for a fee — things which we used to include at no additional cost.
How are you handling competing offers on your renewal book which simply do not make sense?
For example a client which averages $200,000 claims per year gets a quote for $150,000. In a year they will get non-renewed and their loss history will demonstrate a lack of profitability. In short clients are trading short-term premium savings when this will most likely only hurt them in the future by making their risk less attractive. So far the message has been “see you in two years.”
The health of our industry depends heavily on the economy. The Obama adminstration has declared war on the chamber of commerce and the insurance industry in particular. I think that has alot to do with “2010 Looks to Be Painful Year for P/C Insurers, Brokers”.
Funny how liberals always argue with an emotional outburst of ridicule or change of subject. Sorry Obama is president and he is not doing so well.
Thanks Bev, for pointing out that part of the reason that the p and c industry, and MOST OTHER INDUSTRIES IN THE UNITED STATES RIGHT NOW, are suffering loss of revenues and increasing expenses is because our president thinks we all suck! There is a black cloud lingering over people and companies, thanks to obama’s derisive negativity about capitalism. ………Whose spending money???? No one but the government!!!!
Well, that is quite a lot of comments regarding my 1st post. Here are my insights after reading this.
The essence of a good economy remains on capitalism. Capitalism refers to “capital” meaning the source of wealth comes from finance companies–banks, insurance companies, thrifts, etc. These organizations give money to businesses in turn creating wealth. Despite record bonuses by some investment banks, commercial banks are still showing record losses. The President deserves credit for putting a proposal to put greater faith in our financial institutions similar to what FDR did by establishing the FDIC in the Great Depression to minimize bank runs. The original proposition put forth by Secretary Geithner would have allowed a public-private partnership where private companies could buy some bad debt in coordination with the government and gain on its upside. These would take the “bad risks” off a financial institutions books and make financial institutions from allocating money to businesses that need it and in turn will get the economy going. Companies (and the government’s investment) would be minimized to their initial investment, and they would gain the potential of a possible upside in their investment.
This in turn would lead to companies looking besides price when looking at their general liability premiums.
Also, despite flaws, the President has put forth a health care reform plan that is workable. Massachusetts has brought forth a model similar to what is found in the Dorgan health care bill. While costs remain high, the percentage of state residents are covered is over 98%. This is well above the national average. With people having health care, they are more likely to see doctor earlier for preventive care instead of eschewing a doctor and costing the health care system more money. The health care bill can’t be that bad if Bill Frist supports it. He is a leading thoracic surgeon, and his family still has an interest in HCA.
The President’s plans are in need of development as plans were not fully implemented. Stimulus money still has not hit major construction projects in key areas, and in every state except Louisiana there has been a steady decline of construction related employment.
Insurance brokers and carriers are still in a race to the bottom. With the lack of a major catastrophe, I am sure the property market will start to soften even more. Furthermore, carriers are still posting above average profits (such as Traveler’s today). Until losses develop, capacity shrinks and the economy starts improving…we are in for a long soft market.
The general liability market will not improve until the economy moves out of the doldrums. Firms are looking mainly at the lowest priced premium simply to stay in business.
Coverage differentiation, terms and conditions are not stressed.
Better economic conditions combined with some firms exiting less profitable business will lead to a tightening of the market….
What’s amazing is the number of carriers that have remained aggressive in pricing. There is no shortage of players in quoting most types of accounts. May the best agent win.
Sadly, as long as Obama is president, the economy will not improve and will in fact, only get worse. 4 years of Obama will be a complete disaster for the country.
He knows nothing of economics, makes capitalism the bad guy, leaves our troops exposed with no support yet has time to bash a news organization, the chamber of commerce, insurance companies, go on Letterman, take his wife to all points for a date, play basketball, golf, make an *** of himself trying to get the olympics in Chicago, etc,etc, etc.
Looking forward to “Change” we need…
Matt, Maybe if you got laid off this year you would change your mind about Obama.
Nothing has been done in the last 9 months to stimulate the economy and create new jobs. Only threats to increase taxes and widespread class warfare (Envy)
As a matter of fact he has continued everything the liberals hated about Bush, except he cannot decide for himself what to do. He looks like a community organizer who got elected president. Oh wait, thats exactly what happened.
Obama doesn’t think insurance companies, or any businesses for that matter, should be earning profits anyway. Has anyone bothered to tell Obama (or could he perhaps wonder for himself?) how many Americans are employed in the financial services and insurance industry, industries he has hatefully bastardized publicly? What kind of leadership is that?
To anyone who voted for Obama: You caused the problem, now we all have to live with it, for a long time to come. Yes, the economic downturn began under Bush following the collapse of the housing market, but the policies put forth by Obama and his inexperienced advisors have significantly deepened the problem, and caused everyone to wonder “what’s next”? Who invests when they don’t know “what’s next”?
Obama, as a former community organizer, knows only how to avail himself of free government handouts. It’s no wonder, he’s busy giving free handouts, and demonizing anyone with hard earned money. This presidency is like a bad dream, a bad reality show, and we will not wake up for 3.5 more years.
Hey E&S people you forgot to blame the Balloon Boy hoax on Obama…that’s probably his fault too, I tell ya…and the lousy officiating in the ALCS…all Obama.
But seriously folks, I have an insurance question: Are any brokers pushing the concept of 3 year rate guarantees on renewals and new business? This was something I witnessed in 1999 and 2000.
Companies/Underwriters worried about their top line tend to agree to such things on certain accounts.
I am not giving an opinion on the concept but it is something I saw as a pre-curser to hard market pricing. Anyone?
E&S woman…the housing crisis may have surfaced under Busch but irresponsible policies by Carter, Clinton, Barney Frank, Chris Dodd started the ball rolling..a “chicken in every pot” a home for everyone..whether or not you could afford it!!!
Actually, it’s Obama and the dems that blame Bush for everything wrong in the world.If you have a sore throat, they blame Bush. I just listed facts.
3 year policies with locked in rates were a great deal for the consumer but terrible for carriers. Let’s hope we learn from mistakes of the past.
The market will mostl likely not turn for a while. I’ve been at this now for 35 years. Worst I have seen because even when you could slash rates and make an u/w profit at a 120 combined and put it in a CD making 18% to 20% at least companies were not going under at the rate they are today and once we get the peanut farmer out of the WH and Reagan came in to save the economy, things were just great.
Are there any among us who wouldn’t love to have those days back again???
Actually, a case could be made against the Federal Reserve (which is not beholden to the President’s wishes) and their policies to keep interest rates low through boom times, which occured under a Democratic administration by the way. This was a significant element in causing the housing crisis. The Clinton administration sought to focus the first 4 years on reducing the deficit, which was a surplus by the time he left office. And for the next 8 years, bye bye surplus. Why is it that the Republicans get the rep of a financially prudent bunch when the deficit under the last 3 Republican administration just went higher and higher? And the last Bush, did not even bother to put Iraq war spending into the budget. How did he get away with that? Oh yeah, he had help from his party’s majority in the House and Senate. I have yet to hear a well thought out Republican proposal to deal with this current basket case of an economy other than “just cut taxes”. Taxes were cut under the last Bush administration for folks making a lot more than most of us on this site. Why did the economy get worse instead of better. “Trickle down economics” don’t work!
Hey genius. Reagan did not save the economy. Paul Volcker did. He kept interest rates high, which had the two pronged affect of curbing inflation and puting money in people’s pockets with generous CD and money market rates. Take of the supply-side glasses. Those policies do not work. Give Reagan credit for out-spending the Soviets. It definitely put a hurtin’ on their economy. Good for him and us. The obvious cause of outspending the Soviets would be a huge dificit. He should not have compounded that affect by lowering taxes on rich people at the same time. Is a rich guy with an extra million from a tax cut really going to go out and buy another washing machine and sports car when he could have afforded something like that anyway?
I agree with E & S woman 99%. No we don’t have to wait 3 1/2 years. We can make changes to congress in 2010. Vote and vote often. (just like they did)
E &S Man. You nailed it. At this time I am reading The Reagan diaries. Intersting reading. It’s brining it all back and I highly recommed that everyone read that book.
Hey, you whine about deficits when you current BOY has exceeded EVERY other President in spending COMBINED! This guy will make Jimmy Carter look like a dream. Reagan DID bring back the American People to personal responsibility. When will we see that again? Bush 2 had HALF a GOP majority in the second term. You deal with 9/11 and I am confident the U.S. would have been HIT again. Obamination WILL cause another successful attack on this nation with his Chicago Bribe anyone politics. Chicago has been a mess for 40 years. That mentality on a national level will kill our economy.
Do NOT speak badly of Reagan! He SAVED a total mess created by Obama #1 (Carter).
This Obamination will exceed ALL democrat messes combined. You happy with the Hope and Change so far? You can not be if you work. Obviously, you must NOT work.
Your paycheck (if you get one) will become 30-40% less when this liar in the WH gets done.
Sit tight. The ONLY thing demo’s know is tax and spend. They ruin entire industries with Unions which served a purpose 40 + years ago and are or should be totally obsolete NOW.
Wake up. If you actually work and make a profit, you will not be defending this community organizer very soon.
He will be the downfall of this country until we can get him OUT!!!
I do agree that there’s opportunity to slow the adverse trends by throwing out congress next year, but so much of the depressing, oppressive, repressive, welfare mentality of Obama is not even legislation….just simply badmouthing our country and our successful businesses and industries – like he knows more than we all know……like we needed him to “save the country” and “save the world”….like we couldn’t possibly have survived without his Harvard intelligence. I know people with a GED that run successful profitable businesses that could teach him a lesson.
And this post IS about the P and C insurance industry…and every other industry (besides road construction) that are going to struggle and fail under this LOSER OF A PRESIDENT.
I am not even a huge fan of Obama. I just want to give the guy a chance and judge his actions after he has been on the job a few years. Tell me, what specifically has Obama done in the last year, to make your life that much worse? Be specific. What has happened to you and others to make your lives so much worse? Again, be specific. Other than a bunch of paranoid rantings of the Glen Beck Sycophants like yourself he has not caused anything. You guys are in control of your own paranoia. Nobady else is. Why is it that your only argument against me is that I am an idiot? I don’t agree with you, ok? It’s all this or that will happen… Chicken Little! Your post is devoid of any fact that would lead an objective person to believe that Obama is the bad guy you say he is. You just don’t like him. Leave it at that, unless you can formulate an objective (not alarmist) argument. I did not say anything bad about Reagan. I only stated that he did not save the economy. He didn’t. The Federal Reserve did. He did outspend the Russions, which he deserves credit for. Raising taxes at that time was not a smart thing to do….Do your homework and re-read my post. Remember that those who tend to scream the loudest in arguments such as these don’t fully trust their logic so they must scream louder than the rest of us…sounds like Limbaugh, O’rielly, and Beck if you ask me.
I did not say anything bad about Reagan. I only stated that he did not save the economy. He didn’t. The Federal Reserve did. He did outspend the Russions, which he deserves credit for. LOWERING taxes at that time was not a smart thing to do..
I type too fast.
Funny…I don’t remember Obama saying he was going to “save the country”. Maybe there are just a bunch of folks in a worse state than ever. If people feel he has to “save the country” he is already place in an unwinable position. People need to be fair to the guy and let him do his job and judge him later….
Guys, guys !
Yeah, we can blame Obama, but the REAL blame also lies in the government which let Fannie Mae & Freddie Mac write those crappy “liars loans”.
This coupled with the blatant dishonesty of the dollar-barons on Wall Street and their packaging (bundling) of these & other worthless “investments” took down the whole house of cards.
Obama: -where’s he comin’ from ??
What “change” ? ?
It took him 5 months to select a dog for his kids.
He still hasn’t been able to find a new church (or minister for that matter)
ALL he’s done was to serve a beer to a white cop & a black professor and, oh yeah…-the Cash for Clunkers circus.
He said it would benefit the government.
Sure it did
It benefited the Government of Japan !
Obama: no change, no sense, just spin
@Bob Fox, just to throw embers on the fire….
Reagan said, of the Taliban, that they had the same moral character as the founders of America.
He also appointed the first American Czar.
So, one might accurately claim that Reagan was a Czar lover who sympathized with terrorists.
It’s not a simple dislike of Obama. It’s a total disgusting despise of him for the following factual reasons:
1. The first thing Obama did was sign an executive order calling for the closing of Guantanamo, and later a calling for terrorists to be given the same rights at US citizens, and wanting them moved to Leavenworth, KS. This was his attempt at getting the world to rally around his moral superiority, and it hasn’t worked.
2. Secondly, he enacted a wreckless spending bill, which is giving massive handouts to the low income …in the form of appliances, mobile homes, free insulation for their houses, and otherwise.
3. Thirdly, he supports the climate legislation negligently drafted by the House of Representatives which will not only destroy our economy, but will simply transfer wealth and power to the government. (he did however add a provision for the low income, so that they did not have to pay for any increases in energy expenses – just “those that can afford it” – read the bill).
4. He, in a position of utmost authority, and should- be- respect, wrecklessly calls an honorable white police officer “stupid” when merely carrying out the duties of his job when a black man was actually acting “stupidly”.
5. He veils a massive expansive of welfare in the term “health reform”.
6. He publicly decries the greed of US Corporations, in numerous industries. You don’t “motivate the troops” by destroying them. The US government is FUNDED by PEOPLE and COMPANIES, and HE NEEDS THOSE PEOPLE AND THOSE COMPANIES TO BE SUCCESSFUL, BUT HE FAILS TO GET THAT.
7. He is “too busy” to answer the needs of the military in Afghanistan, who are crying for more troops, because he is flying to Denmark to promote Chicago for the Olympics in 10 years, likely for some form of personal benefit to himself when he returns to Chicago.
8. He is – for now – heavily supported by labor unions, which have destroyed the US Auto industry as well as the city of Detroit.
9. He is arrogant.
10. Check the nightly news…there’s a new reason every day…and not Fox…try CNN, ABC, CBS or NBC….all of the above are Factual reasons why I do not like this man.
He is an ineffective leader and a poor politician…..You are a poor politician when you cannot get people to follow you, and he’s having a hard time getting anyone to run with his agenda, except Nancy Pelosi and Harry Reid.
Can you IMAGINE what would happen if Obama turned out to be the second coming of the messiah? All the whack job fundies would die of shock.
But in seriousness, wasn’t this article about lower broker revenue in 2010 due to a continuing soft market coupled with reduced sales/payroll exposures? Somehow after less than a year in office I don’t really think you can pin that one on Obama, perfect as he is. Almost as perfect as Tim Tebow, even.
That is a joke by the way. Boy people get riled up about King Obama on here! You would think from the comments that he personally spawned hurricane Ike with his evil hands. I am pretty sure he broke into my house and stole food from the pantry, too.
Back to the article…..
What are other brokers doing to offset loss of revenue? In particular if you specialize in full-service brokerage with risk management/LP seminars etc.
It is difficult to compete in a price oriented market in the recession. Even long time customers who understand and value these services no longer feel able to afford them via a somewhat higher premium. They feel forced to go with the lowest cost option even if it might be with an agency and carrier that doesn’t understand their business and cannot provide the services necessary to keep loss performance and premium low in the long term.
We are challenged by the new development and are considering only offering certain services for a fee — things which we used to include at no additional cost.
One thing I forgot to add–
How are you handling competing offers on your renewal book which simply do not make sense?
For example a client which averages $200,000 claims per year gets a quote for $150,000. In a year they will get non-renewed and their loss history will demonstrate a lack of profitability. In short clients are trading short-term premium savings when this will most likely only hurt them in the future by making their risk less attractive. So far the message has been “see you in two years.”
Thanks for sticking to the subject. Why does every article on here somehow relate back to the government, particularly Obama? Get over it people!
The health of our industry depends heavily on the economy. The Obama adminstration has declared war on the chamber of commerce and the insurance industry in particular. I think that has alot to do with “2010 Looks to Be Painful Year for P/C Insurers, Brokers”.
Funny how liberals always argue with an emotional outburst of ridicule or change of subject. Sorry Obama is president and he is not doing so well.
Thanks Bev, for pointing out that part of the reason that the p and c industry, and MOST OTHER INDUSTRIES IN THE UNITED STATES RIGHT NOW, are suffering loss of revenues and increasing expenses is because our president thinks we all suck! There is a black cloud lingering over people and companies, thanks to obama’s derisive negativity about capitalism. ………Whose spending money???? No one but the government!!!!