Hanover Insurance (part of Allmerica financial) does not pay claims.. If you try and fight them, they drain you financially thru the court system..
They have teams of lawyers on staff just to fight law suits for wrongly denied claims..
No wonder their rates are reasonable… just do not count on payment if something happens… I was a long term customer that had 5 policies with them… and was treated like scum..
I have one question….the money collected for TRIA by the carriers, where does it go? to the government or into the coffers of the carriers??? Has anyone out there asked this question? Does anyone know why the carriers want TRIA so bad? Other than to pay a terrorism claim that may or may not happen.
If Greenberg wants an Insurance Committee in Congress does he also want the federal controls on insurance that would go along with it? Knowing AIG I suspect he does.
Good questions Dan,
Hank would love Federal oversight, especially for Commercial Lines as the buyer is usually multi-state in scope and more sophisticated than individual consumers. The problem lies in the State’s policical desire to regulate pricing. That was his response to me in 1990. Nothing has changed.
When asked by the white house to help create the rules – the industry decided to wait and see what the Feds came up with and then respond to it.
Stagnation begets whining. Try cooperating with lawmakers instead of making them adversaries. Maybe that is beyond the current intellect of the industry leaders. Maurice is right – it is what it is.
MRG is not only very estute but it seems as he gets older he does get better.
This industry does need some major over-haul in the area of litigation controll. In N.Y. regulators which are predominatly attorneys by training will never stop the raping of companies by frivilous law suits.
If there was federal regulations that could help oversee the very puny controlls of the individual states, ALL insurance companies would be in a much better position.
Hats off to MRG for not ony loking out for AIG’s best interest but for the insurance industry as a whole.
AIG is in my opinion, a phenomenally successfull con-artist, who will finally be exposed by the AG and the media, and will leave certain members of Congress who voted for TRIA feeling ashamed of their inability to see the con as it is. It is common sense. Likelihood of a repeat 9-11? Negligible. Profits to reap? Huge. Go check it out folks.
AIG is in my opinion, a phenomenally successfull con-artist, who will finally be exposed by the AG and the media, and will leave certain members of Congress who voted for TRIA feeling ashamed of their inability to see the con as it is. It is common sense. Likelihood of a repeat 9-11? Negligible. Profits to reap? Huge. Go check it out folks.
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Hanover Insurance (part of Allmerica financial) does not pay claims.. If you try and fight them, they drain you financially thru the court system..
They have teams of lawyers on staff just to fight law suits for wrongly denied claims..
No wonder their rates are reasonable… just do not count on payment if something happens… I was a long term customer that had 5 policies with them… and was treated like scum..
I have one question….the money collected for TRIA by the carriers, where does it go? to the government or into the coffers of the carriers??? Has anyone out there asked this question? Does anyone know why the carriers want TRIA so bad? Other than to pay a terrorism claim that may or may not happen.
What does your comment have to do with the article?
If Greenberg wants an Insurance Committee in Congress does he also want the federal controls on insurance that would go along with it? Knowing AIG I suspect he does.
Good questions Dan,
Hank would love Federal oversight, especially for Commercial Lines as the buyer is usually multi-state in scope and more sophisticated than individual consumers. The problem lies in the State’s policical desire to regulate pricing. That was his response to me in 1990. Nothing has changed.
When asked by the white house to help create the rules – the industry decided to wait and see what the Feds came up with and then respond to it.
Stagnation begets whining. Try cooperating with lawmakers instead of making them adversaries. Maybe that is beyond the current intellect of the industry leaders. Maurice is right – it is what it is.
MRG is not only very estute but it seems as he gets older he does get better.
This industry does need some major over-haul in the area of litigation controll. In N.Y. regulators which are predominatly attorneys by training will never stop the raping of companies by frivilous law suits.
If there was federal regulations that could help oversee the very puny controlls of the individual states, ALL insurance companies would be in a much better position.
Hats off to MRG for not ony loking out for AIG’s best interest but for the insurance industry as a whole.
Well Done and keep it up.
AIG is in my opinion, a phenomenally successfull con-artist, who will finally be exposed by the AG and the media, and will leave certain members of Congress who voted for TRIA feeling ashamed of their inability to see the con as it is. It is common sense. Likelihood of a repeat 9-11? Negligible. Profits to reap? Huge. Go check it out folks.
AIG is in my opinion, a phenomenally successfull con-artist, who will finally be exposed by the AG and the media, and will leave certain members of Congress who voted for TRIA feeling ashamed of their inability to see the con as it is. It is common sense. Likelihood of a repeat 9-11? Negligible. Profits to reap? Huge. Go check it out folks.