Let’s all hail the new czar of insurance! The big carriers are happy with this arrangement, as they now have one central place to shovel their money & also to go to for their next AIG style bailout. Of course the smaller carriers without the pull with their new czar, will be allowed to fail, so that the remaining market share can be consumed by the too big to fail carriers.
My understanding is that most of the comments came from inside the insurance industry. For instance, the insurance companies are recommending the changes… If that is true, then I am confused by the two comments which simply say that regulation is bad. Well if its bad, then I cannot think of a better way to fix it than to review the issue with the companies that think its bad. While I may personally think government regulation in the free market is not great… the fact is that we live in a world that is heavily regulated. I am pleased that on some level there is a discussion to mondernize it. This does not automatically mean that the modernizations will hurt our industry. I believe the goal is that the changes help everyone.
Dear producer #1-Putting forth another layer of bureaucracy & regulations will further destroy the already weak insurance industry.
If you believe that the answer for the ills of our industry can be found in Washington D.C., then I think you will be sorely disappointed. Washington responds to only one thing, which lobbyist has the biggest envelope which will of course favor the larger companies, destroying the ability of the smaller & mid-size companies to compete. This has nothing to do with modernization, it has to do with control.
Modernizing it? How about eliminating most of it?
Let’s all hail the new czar of insurance! The big carriers are happy with this arrangement, as they now have one central place to shovel their money & also to go to for their next AIG style bailout. Of course the smaller carriers without the pull with their new czar, will be allowed to fail, so that the remaining market share can be consumed by the too big to fail carriers.
My understanding is that most of the comments came from inside the insurance industry. For instance, the insurance companies are recommending the changes… If that is true, then I am confused by the two comments which simply say that regulation is bad. Well if its bad, then I cannot think of a better way to fix it than to review the issue with the companies that think its bad. While I may personally think government regulation in the free market is not great… the fact is that we live in a world that is heavily regulated. I am pleased that on some level there is a discussion to mondernize it. This does not automatically mean that the modernizations will hurt our industry. I believe the goal is that the changes help everyone.
Dear producer #1-Putting forth another layer of bureaucracy & regulations will further destroy the already weak insurance industry.
If you believe that the answer for the ills of our industry can be found in Washington D.C., then I think you will be sorely disappointed. Washington responds to only one thing, which lobbyist has the biggest envelope which will of course favor the larger companies, destroying the ability of the smaller & mid-size companies to compete. This has nothing to do with modernization, it has to do with control.