And what pray tell makes them think that people will purchase it? If they didn’t purchase flood or property insurance and the government bailed them out, why would they or anyone spend money to purchase insurance? What are they going to do if you don’t purchase it and there is another hurricane or tornado or earthquake? Are they going to leave thousands homeless and not offer aid because they didn’t purchase the insurance needed? I think not. Someone better wake up and realize that having another insurance product is not the answer. What ever happened to “spread of risk” and the rule of “large numbers”? We need to tell people that are in harms way that we will rebuild and or help them twice (I’m being generous here), with or without insurance, after that they are on their own. The only help they will get will be with relocation. If they don’t want to relocate, then they get no help. They will be either be forced to purchase insurance in a surplus market and if they can’t get any, self insurance, but know that there will not be any future help available. That just may be the wake up call some people need.
Sure, let\’s have the Federal Government take over the insurance industry for us. Let\’s have them take over the cat covers, hell why not. There is no question that the insurance industry with their inability to underwrite anything, except their continued impression that market share is the all mighty money making methodolgy.
Thats all we need is more Government intervention. How about these idiots stop writing cat cover, cat cover, cat cover, hell everyones doing it. Obviously you loose your tail on three, four, five major storms, no problem, there are always more investment dollars to take the place of the misgotten, forgotten whatever. Look at the Bermuda marketplace, took hit after hit, what\’s the majority of so called new money going to underwrite,
cat cover! Yipee. What\’s the current market doing, why printing more money, this can\’t go on forever. After all haven\’t those impressive actuarial models been right? They haven\’t been close.
There is a legitimate way to do this, it\’s realy pretty simple, but why discuss it, there\’s always the Federal Government.
How many underwriting profit years have there been in the past 25, what is it one, lovely.
Why do I need to pay premiums for these \”poor\” people that just had to live on the Beach or the Left Coast? This is a private insurance market, castastrophe or no catastrophe. The underwriters know the risk…the premiums should reflect that risk…End Of Story. History has shown that the Federal Government cannot effectively manage these type of programs. It will be full of overspending and underfunding before they pay the first claim.
Hey insurance commissioners! Based on FEMA\”s resounding success in assisting those affected by Katrina, do we really want another stage for the feds to flop (read fail miserably)on? No, our chances are better if we let the private sector go to work on it.
Mother Nature is at her essence, an ecological terrorist. Surely, only the Feds can protect us from such threats. Why not nationalize the entire industry?
(noun) shaking and vibration at the surface of the earth resulting from underground movement along a fault plane of from volcanic activity [syn: earthquake, quake, seism]
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And what pray tell makes them think that people will purchase it? If they didn’t purchase flood or property insurance and the government bailed them out, why would they or anyone spend money to purchase insurance? What are they going to do if you don’t purchase it and there is another hurricane or tornado or earthquake? Are they going to leave thousands homeless and not offer aid because they didn’t purchase the insurance needed? I think not. Someone better wake up and realize that having another insurance product is not the answer. What ever happened to “spread of risk” and the rule of “large numbers”? We need to tell people that are in harms way that we will rebuild and or help them twice (I’m being generous here), with or without insurance, after that they are on their own. The only help they will get will be with relocation. If they don’t want to relocate, then they get no help. They will be either be forced to purchase insurance in a surplus market and if they can’t get any, self insurance, but know that there will not be any future help available. That just may be the wake up call some people need.
Sure, let\’s have the Federal Government take over the insurance industry for us. Let\’s have them take over the cat covers, hell why not. There is no question that the insurance industry with their inability to underwrite anything, except their continued impression that market share is the all mighty money making methodolgy.
Thats all we need is more Government intervention. How about these idiots stop writing cat cover, cat cover, cat cover, hell everyones doing it. Obviously you loose your tail on three, four, five major storms, no problem, there are always more investment dollars to take the place of the misgotten, forgotten whatever. Look at the Bermuda marketplace, took hit after hit, what\’s the majority of so called new money going to underwrite,
cat cover! Yipee. What\’s the current market doing, why printing more money, this can\’t go on forever. After all haven\’t those impressive actuarial models been right? They haven\’t been close.
There is a legitimate way to do this, it\’s realy pretty simple, but why discuss it, there\’s always the Federal Government.
How many underwriting profit years have there been in the past 25, what is it one, lovely.
Keep it up.
Why do I need to pay premiums for these \”poor\” people that just had to live on the Beach or the Left Coast? This is a private insurance market, castastrophe or no catastrophe. The underwriters know the risk…the premiums should reflect that risk…End Of Story. History has shown that the Federal Government cannot effectively manage these type of programs. It will be full of overspending and underfunding before they pay the first claim.
Hey insurance commissioners! Based on FEMA\”s resounding success in assisting those affected by Katrina, do we really want another stage for the feds to flop (read fail miserably)on? No, our chances are better if we let the private sector go to work on it.
Mother Nature is at her essence, an ecological terrorist. Surely, only the Feds can protect us from such threats. Why not nationalize the entire industry?
(noun) shaking and vibration at the surface of the earth resulting from underground movement along a fault plane of from volcanic activity [syn: earthquake, quake, seism]