Give Mr. Greenberg a real smooch there, Insurance Person. Sounds like you work for the publicity department of AIG. Greenberg “deserves” to hang. The fitting punishment would be for the millions he “deserves” to be forfeited and his gnarly arse jailed. He’s been a creep for 40 years and it finally caught up with him. AIG always had a certain “attitude” and it was an extension of Mr. Greenberg’s personality. Always a “take-it-or-leave-it” sort of way. Business men who treat their staff and their company as if they can do no wrong “deserve” everything they get when they fall.
Greed does not suck, dishonesty does. Nothing wrong with wanting more of the same (in fact that dries Capitalism). It is always wrong however to do it illegally, or unethically.
Your comments suggest that “The Ends Justify the Means” with regards to AIG’s questionable accounting practices. I wonder if the investors of Enron have the same opinion. I doubt that very much since investors lost millions. Granted the Enron situation is some what different, however haven’t you learned that even the biggest companies can fall, and fall hard? When all is said and done AIG’s investors and customers are left holding the bag.
How many of you high and mighty critics use AIG for your insurance placements? Is it Lexington and their non-admitted coverage? National Union and the money losing D&O market? How about Environmental Insurance? Need capacity? You probably involved American Home, Starr Excess or Lexington, most everyone does!
I only wish that AIG would tell the industry that it was only writing business on it’s terms, charged every agent and insured an underwriting fee to consider their risk (that would eliminate mass marketing of every account to as many carriers as can be found via email in the ever popular broker hunt for lowest possible price and broadest coverage. Now you would have to know your markets and choose intelligently), and removed themselves from unprofitable lines of business. Wouldn’t that be great! You would all have a bunch of underinsured and disgruntled customers. Oh yeah, the Errors and Omissions suits would come in too, without AIG THAT market would dry up as well. Hallelujah!
The insurance market is anything but efficient: our industry overpays our agents and brokers, undercharges our policyholders, tolerates regulatory stupidity, accepts legislative apathy and then gets to be flayed in public.
ok,ok. it aint gonna change. well, it will change a little more,going the same way its been in past few years– us agents will do more work,get less commission,have to TRAINe more underwriters and be stuck with high reserves on claims. we will be be-rated because of lack of production, loss ratios being to high,be covered up with “new products”, changes in policy language,argue with adjusters— WHY, because of the IVORY TOWER MENTALITY at most of the companies,squeeze the agents. 1971 I went to hartford with Aetna agents school right out of college, to learn “the business”,owned my own agency ,sold my agency,now run one with revenues in the millions for someone else– i have seen it all….INA,HOME,AETNA– WHERE ARE THEY NOW?THE SUN WILL COME UP TOMORROW AND WE WILL HAVE THE SAME OLD SITUATIONS ,JUST DIFFERENT FACES.gotta put up with it all, if you dont have the gold you dont have the rule….smell the roses,its still a fun business….
Well there tired of hearing it all, it appears you are not an Agent. Overpaying the Agents? When the companies stick us with rating and issuing policies, when do they kick in the increased commission for the extra time we have to spend doing their work? Or do they share the realized savings by not hiring an Underwriter? It’s like we have become the ATMs of the Insurance World.
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Give Mr. Greenberg a real smooch there, Insurance Person. Sounds like you work for the publicity department of AIG. Greenberg “deserves” to hang. The fitting punishment would be for the millions he “deserves” to be forfeited and his gnarly arse jailed. He’s been a creep for 40 years and it finally caught up with him. AIG always had a certain “attitude” and it was an extension of Mr. Greenberg’s personality. Always a “take-it-or-leave-it” sort of way. Business men who treat their staff and their company as if they can do no wrong “deserve” everything they get when they fall.
Greed does not suck, dishonesty does. Nothing wrong with wanting more of the same (in fact that dries Capitalism). It is always wrong however to do it illegally, or unethically.
Mr. Insurance Person,
Your comments suggest that “The Ends Justify the Means” with regards to AIG’s questionable accounting practices. I wonder if the investors of Enron have the same opinion. I doubt that very much since investors lost millions. Granted the Enron situation is some what different, however haven’t you learned that even the biggest companies can fall, and fall hard? When all is said and done AIG’s investors and customers are left holding the bag.
How many of you high and mighty critics use AIG for your insurance placements? Is it Lexington and their non-admitted coverage? National Union and the money losing D&O market? How about Environmental Insurance? Need capacity? You probably involved American Home, Starr Excess or Lexington, most everyone does!
I only wish that AIG would tell the industry that it was only writing business on it’s terms, charged every agent and insured an underwriting fee to consider their risk (that would eliminate mass marketing of every account to as many carriers as can be found via email in the ever popular broker hunt for lowest possible price and broadest coverage. Now you would have to know your markets and choose intelligently), and removed themselves from unprofitable lines of business. Wouldn’t that be great! You would all have a bunch of underinsured and disgruntled customers. Oh yeah, the Errors and Omissions suits would come in too, without AIG THAT market would dry up as well. Hallelujah!
The insurance market is anything but efficient: our industry overpays our agents and brokers, undercharges our policyholders, tolerates regulatory stupidity, accepts legislative apathy and then gets to be flayed in public.
Insurance…gotta love it!
ok,ok. it aint gonna change. well, it will change a little more,going the same way its been in past few years– us agents will do more work,get less commission,have to TRAINe more underwriters and be stuck with high reserves on claims. we will be be-rated because of lack of production, loss ratios being to high,be covered up with “new products”, changes in policy language,argue with adjusters— WHY, because of the IVORY TOWER MENTALITY at most of the companies,squeeze the agents. 1971 I went to hartford with Aetna agents school right out of college, to learn “the business”,owned my own agency ,sold my agency,now run one with revenues in the millions for someone else– i have seen it all….INA,HOME,AETNA– WHERE ARE THEY NOW?THE SUN WILL COME UP TOMORROW AND WE WILL HAVE THE SAME OLD SITUATIONS ,JUST DIFFERENT FACES.gotta put up with it all, if you dont have the gold you dont have the rule….smell the roses,its still a fun business….
Well there tired of hearing it all, it appears you are not an Agent. Overpaying the Agents? When the companies stick us with rating and issuing policies, when do they kick in the increased commission for the extra time we have to spend doing their work? Or do they share the realized savings by not hiring an Underwriter? It’s like we have become the ATMs of the Insurance World.
Can anybody tell me is it enron Or arthur anderson story repeated? Shall AIG go in the same way as Enron?