Only a politician would blame the insurance companies for buying too much reinsurance. I wonder if that were the same case in the 2004-2005 season when three storms hit. I wonder if the companies that bought too much reinsurance and paid the claims really were off base? If anything, they should blame the companies that buy too little and leave their constituents destitute after a loss and as a extra benefit, the insurance company employees will be out on the street as the company declares bankruptcy.
The politicians in Florida don’t want the insurance executives to actually speak. They just want them there to yell at and accuse. Facts and real market conditions play no factor in their thought processes. If they ever do call them down it will a publicity stunt, not a hearing. I don’t know why any reputable company would want to do business in a state with this government in charge.
Cliff, when I heard Demotech I thought I was going to hear about their useless ratings, but the meeting was worthwhile although useless as far as the politicians are concerned.
I agree with Baloney. Completely. How many carrier CEOs came to Florida of their own accord to speak to the politicos? The only person that would even meet with carriers was Alex Sink. Crist flat refused to even meet with the CEO of Auto Owners or State Farm, for instance. Rumor has it that his staff made an appointment with State Farm, and Crist refused the meeting.
There’s a responsible, business-like approach, Charlie. Refuse to even speak to the very providers that will have to be engaged if this mess is to be fixed. Charlie is great with the media, but as the CEO of the state of Florida, he is an utter, despicable failure already after only a few months at the helm.
Charlie Crist is just like most of his citizens, thinks hurricane problems in Florida should be the problems on insurance companies/stockholders and citizens outside of the Southeast.
The poor Florida consumer who is insured by one of the companies whose presumed factors filing hasn’t been approved by the FL OIR. Our estimate is that approx. $250 million of lower rates haven’t been approved, while the politicians keep the story on the front page.
Wait until the true up filings hit.
Wait till the wind blows; a few small ones or one big one and Crist and his brown nosing legislators will be out of politics, all as a result of the huge assessments from the total mismanagement of Citizens. The Wall Street Journal called it “socializing property insurance in Florida, taking lessons in Cuban economics”
What is it with you fruit loops? You call on that idiot Michael Moore like he is some kind of hero instead of being a lying self-promoting idiot. None of this including the State Farm hater in the last post has anything to do with the political problems in Florida. You think you can pass laws to change how weather affects the state’s claim problems? You think you can change how insurance works in the real world. Better call ghostbusters, they would be more useful that the last couple suggestions.
Flood Insurance
Posted On: April 19, 2007, 9:43 am CDT
Posted By: more history
Comment:
Mr. Ed
Rust,
I realize you are a very busy man. However, that is not any reason for you to push me off to your LaRaza public affairs person, Irma Bantista, for an answer to my concerns about State Farm’s relationship to LaRaza. The letter was addressed to you.
Since State Farm, under your direction, decided not to help our citizens in Mississippi and the Gulf Coast, I believe you should not be giving policyholder money to LaRaza or any other organization including politicians or their PACs. Our policyholders (mutual company, remember) would be better served by using our premium monies exclusively for our mutual members (policyholders). Again, I object to State Farm contributing money to LaRaza for any reason.
For your information, there is a concerted effort by American citizens like me to boycott State Farm by cancelling our policies in protest to your determined support of anti-American organizations like LaRaza.
As a current member and owner of State Farm, I demand two things:
1. Stop all contributions to all outside organizations and entities to include LaRaza and PACs.
2. Send all policyholders a list of the organizations that State Farm contributes policyholder’s money to in order for us to see some transparency in State Farm’s handling of our premium monies.
Furthermore, I do not expect you to push this letter off to any of your spinmeisters for a reply. I expect that you would be man enough to answer this letter.
(Time to stand!!! Thank you to the man that care
Subject Posted By Posted On
RE: RE: Congrads to a Great Company ! Scalp by Ins Man Jun 5, 2007, 12:55 am
RE: Congrads to a Great Company ! Chaz, ARM May 19, 2007,
What, were some posts deleted for incivility or something? This thread is suddenly very confusing – we jumped from “Insurers will go bankrupt and under-reinsured companies will be unable to pay claims” to some ranting letter about La Raza?
Only a politician would blame the insurance companies for buying too much reinsurance. I wonder if that were the same case in the 2004-2005 season when three storms hit. I wonder if the companies that bought too much reinsurance and paid the claims really were off base? If anything, they should blame the companies that buy too little and leave their constituents destitute after a loss and as a extra benefit, the insurance company employees will be out on the street as the company declares bankruptcy.
The politicians in Florida don’t want the insurance executives to actually speak. They just want them there to yell at and accuse. Facts and real market conditions play no factor in their thought processes. If they ever do call them down it will a publicity stunt, not a hearing. I don’t know why any reputable company would want to do business in a state with this government in charge.
for holding the summit.
Their rating of South Carolina Ins Co and Catawba Ins paper used by MGA’s is worthless, but i applaud the summit
Cliff, when I heard Demotech I thought I was going to hear about their useless ratings, but the meeting was worthwhile although useless as far as the politicians are concerned.
I agree with Baloney. Completely. How many carrier CEOs came to Florida of their own accord to speak to the politicos? The only person that would even meet with carriers was Alex Sink. Crist flat refused to even meet with the CEO of Auto Owners or State Farm, for instance. Rumor has it that his staff made an appointment with State Farm, and Crist refused the meeting.
There’s a responsible, business-like approach, Charlie. Refuse to even speak to the very providers that will have to be engaged if this mess is to be fixed. Charlie is great with the media, but as the CEO of the state of Florida, he is an utter, despicable failure already after only a few months at the helm.
Charlie Crist is just like most of his citizens, thinks hurricane problems in Florida should be the problems on insurance companies/stockholders and citizens outside of the Southeast.
The poor Florida consumer who is insured by one of the companies whose presumed factors filing hasn’t been approved by the FL OIR. Our estimate is that approx. $250 million of lower rates haven’t been approved, while the politicians keep the story on the front page.
Wait until the true up filings hit.
Wait till the wind blows; a few small ones or one big one and Crist and his brown nosing legislators will be out of politics, all as a result of the huge assessments from the total mismanagement of Citizens. The Wall Street Journal called it “socializing property insurance in Florida, taking lessons in Cuban economics”
I always referred to it as Florida’s Fools Gold.
What is it with you fruit loops? You call on that idiot Michael Moore like he is some kind of hero instead of being a lying self-promoting idiot. None of this including the State Farm hater in the last post has anything to do with the political problems in Florida. You think you can pass laws to change how weather affects the state’s claim problems? You think you can change how insurance works in the real world. Better call ghostbusters, they would be more useful that the last couple suggestions.
Flood Insurance
Posted On: April 19, 2007, 9:43 am CDT
Posted By: more history
Comment:
Mr. Ed
Rust,
I realize you are a very busy man. However, that is not any reason for you to push me off to your LaRaza public affairs person, Irma Bantista, for an answer to my concerns about State Farm’s relationship to LaRaza. The letter was addressed to you.
Since State Farm, under your direction, decided not to help our citizens in Mississippi and the Gulf Coast, I believe you should not be giving policyholder money to LaRaza or any other organization including politicians or their PACs. Our policyholders (mutual company, remember) would be better served by using our premium monies exclusively for our mutual members (policyholders). Again, I object to State Farm contributing money to LaRaza for any reason.
For your information, there is a concerted effort by American citizens like me to boycott State Farm by cancelling our policies in protest to your determined support of anti-American organizations like LaRaza.
As a current member and owner of State Farm, I demand two things:
1. Stop all contributions to all outside organizations and entities to include LaRaza and PACs.
2. Send all policyholders a list of the organizations that State Farm contributes policyholder’s money to in order for us to see some transparency in State Farm’s handling of our premium monies.
Furthermore, I do not expect you to push this letter off to any of your spinmeisters for a reply. I expect that you would be man enough to answer this letter.
(Time to stand!!! Thank you to the man that care
Subject Posted By Posted On
RE: RE: Congrads to a Great Company ! Scalp by Ins Man Jun 5, 2007, 12:55 am
RE: Congrads to a Great Company ! Chaz, ARM May 19, 2007,
What, were some posts deleted for incivility or something? This thread is suddenly very confusing – we jumped from “Insurers will go bankrupt and under-reinsured companies will be unable to pay claims” to some ranting letter about La Raza?