It is too bad that many of these bad actors were not put in prison for their misdeeds and fraud. They were part of the culture of corruption during this time and companies and brokers were in bed with one another doing this bid rigging under the table transactions to the detriment of many customers. Marsh, AON and Willis should have lost their licenses, but didn’t. I agree that these companies will just take rate on current renewals etc to pay these fines etc. Pass it on to the consumer and they will skate.
you seem to be forgetting that the trend for the last 10 quarters has been rate reductions of 5% or more on almost all lines of business…a trend that doesn’t seem to be slowing…
Hey Former. They now have to cough up the fines for past misdeeds. This is a perfect time to take rate and disguise it as beginning of the hard market.
I think that all of these insurance companies should be forbidden to raise their rates on any policies that do not have losses for several years.
Ultimately these fines will be paid for by you and me. They should be forced to use only thier “savings accounts” to pay these amounts.
It is too bad that many of these bad actors were not put in prison for their misdeeds and fraud. They were part of the culture of corruption during this time and companies and brokers were in bed with one another doing this bid rigging under the table transactions to the detriment of many customers. Marsh, AON and Willis should have lost their licenses, but didn’t. I agree that these companies will just take rate on current renewals etc to pay these fines etc. Pass it on to the consumer and they will skate.
you seem to be forgetting that the trend for the last 10 quarters has been rate reductions of 5% or more on almost all lines of business…a trend that doesn’t seem to be slowing…
Hey Former. They now have to cough up the fines for past misdeeds. This is a perfect time to take rate and disguise it as beginning of the hard market.
People that dislike these posts must work for these companies in question. I agree with both posts so far.
The only reason Spitzer even started this lawsuit was to hide the fact that he was sleeping w/hookers.
I would to know the top 10 best insurance company