1. Start a company with borrowed 5 million.
2. Create a MGA to administer (Ha) the company.
3 Charge 65% of the premiums for doing so.
4. Put together some bulls*it reinsurance
5. Give the keys to FIGA when the wind blows.
6. Let all the citizens of Florida and the good carriers,if any are left to pay for your loses through FIGA assessments.
7. Pay off the 5 million loan and pocket the rest through your MGA.
IT IS YOUR JOB MS. SINK TO SEE THAT THIS IS NOT HAPPENING IN FLORIDA!
YOU ARE SOOOO DEAD RIGHT THAT it SCARY SH_T!!!! Man you need to make a movie on that one. Get Michael Douglas to play the CEO/OWNER of People’s Trust Ins. Co. Ooops who said that!
Coral insurance just went into recievership yesterday. Peoples Trust is being proven to be a scam. This reminds me of the SEC and Bernie Madoff instead it is DFS,OIR and even our own association who gets money from these start ups. If you dont believe me just go to our convention and see who has paid our association $25K-$50K for putting on parties and booths. There is alot of money involved and there is a great deal of political pressure to allow these carriers to operate without the proper review of their financials. IT IS A PONZI! JUST LIKE MADOFF.
Dear CFO Sink,
Keep searching for that free lunch as it has to out there somewhere.
These start up carriers are a PONZI!
1. Start a company with borrowed 5 million.
2. Create a MGA to administer (Ha) the company.
3 Charge 65% of the premiums for doing so.
4. Put together some bulls*it reinsurance
5. Give the keys to FIGA when the wind blows.
6. Let all the citizens of Florida and the good carriers,if any are left to pay for your loses through FIGA assessments.
7. Pay off the 5 million loan and pocket the rest through your MGA.
IT IS YOUR JOB MS. SINK TO SEE THAT THIS IS NOT HAPPENING IN FLORIDA!
YOU ARE SOOOO DEAD RIGHT THAT it SCARY SH_T!!!! Man you need to make a movie on that one. Get Michael Douglas to play the CEO/OWNER of People’s Trust Ins. Co. Ooops who said that!
Coral insurance just went into recievership yesterday. Peoples Trust is being proven to be a scam. This reminds me of the SEC and Bernie Madoff instead it is DFS,OIR and even our own association who gets money from these start ups. If you dont believe me just go to our convention and see who has paid our association $25K-$50K for putting on parties and booths. There is alot of money involved and there is a great deal of political pressure to allow these carriers to operate without the proper review of their financials. IT IS A PONZI! JUST LIKE MADOFF.