Do you know if the white paper also
analyzed how field underwriting engineering surveys, safety and loss control services may have affected
the outcome of insurer profitability?
Also, were there any recommendations that insurer underwriting and loss control departments will be depending on more account service activity
utilizing thses services by insurers?
Gee, adequate rates lower regulators dealing with insolvencies???
This is new? How many “cycles” has everyone been through? Raise your hands!
This article will be completely ignored by the next minimum surplus auto liability carrier formed in one of the minimum surplus states by inexperienced “new idea” operators with slick sales pitches. Regulators have statutes to enforce. If the block is square and fits, and the new operator engages the proper counsel to assist issuance of the C of A, (non-CA.) most regulators will allow this. I heard one 30 year AZ DOI regulator comment on a recently issued C of A that was capitalized with $900,000 -(plus some desks and typewriters) “If there was a statute to stop this, I would use it.”
This regulator has been through more non-std auto insolvencies than I have.
Lobby the State Legislatures in these low surplus states to make minimal changes and this would change.
But, I digress.
These profits will last until the “buyers” of marketshare who CAN afford to buy some business tempt or force the general agency programs to jump in with carriers who can not afford to buy market with losses.
Happens everytime. The cycles are getting shorter timewise but deeper in rate inadequacy. Sometimes, those darn actuarial folks know what their talking about..
never underestimate the ego, the stupidity or greed of people who run this industry. one year of of a turnaround and this industry is already returning to it’s prior ways.
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Do you know if the white paper also
analyzed how field underwriting engineering surveys, safety and loss control services may have affected
the outcome of insurer profitability?
Also, were there any recommendations that insurer underwriting and loss control departments will be depending on more account service activity
utilizing thses services by insurers?
Gee, adequate rates lower regulators dealing with insolvencies???
This is new? How many “cycles” has everyone been through? Raise your hands!
This article will be completely ignored by the next minimum surplus auto liability carrier formed in one of the minimum surplus states by inexperienced “new idea” operators with slick sales pitches. Regulators have statutes to enforce. If the block is square and fits, and the new operator engages the proper counsel to assist issuance of the C of A, (non-CA.) most regulators will allow this. I heard one 30 year AZ DOI regulator comment on a recently issued C of A that was capitalized with $900,000 -(plus some desks and typewriters) “If there was a statute to stop this, I would use it.”
This regulator has been through more non-std auto insolvencies than I have.
Lobby the State Legislatures in these low surplus states to make minimal changes and this would change.
But, I digress.
These profits will last until the “buyers” of marketshare who CAN afford to buy some business tempt or force the general agency programs to jump in with carriers who can not afford to buy market with losses.
Happens everytime. The cycles are getting shorter timewise but deeper in rate inadequacy. Sometimes, those darn actuarial folks know what their talking about..
Hutch
never underestimate the ego, the stupidity or greed of people who run this industry. one year of of a turnaround and this industry is already returning to it’s prior ways.