Consumer Group Says P/C Rates Drop ‘Irrespective’ of Tort Reform Enactment

October 26, 2006

  • October 26, 2006 at 9:34 am
    W. M. Wilson says:
    Like or Dislike:
    Thumb up 0
    Thumb down 0

    It is totally inaccurate to imply that racism is a factor in the insurance industry. Those who champion racism in insurance today are living in a world of fantasy.

  • October 26, 2006 at 2:13 am
    aaaysy says:
    Like or Dislike:
    Thumb up 0
    Thumb down 0

    The title insulted reader\’s intelligence.
    PC rate drop is a welcome fact. The report failed to proof the \”irrespective\” claim.

  • October 26, 2006 at 2:29 am
    Bret says:
    Like or Dislike:
    Thumb up 0
    Thumb down 0

    To cognizantly state that \”no matter how much insurance lobbyists like to complain about claims, payouts, jury verdicts or the legal system, losses do not determine the rates that insurers charge\” is as assanine as stating crop losses do not determine the price of rice. It\’s just another ridiculous statement by an obtuse organization.

  • October 26, 2006 at 3:01 am
    Actuary says:
    Like or Dislike:
    Thumb up 0
    Thumb down 0

    Always a clear indication that whatever follows is worthless.

  • October 26, 2006 at 3:11 am
    Tom says:
    Like or Dislike:
    Thumb up 0
    Thumb down 0

    Since state laws require rates to be neither inadequate nor excessive, and most if not all – states require some sort of regulatory review and approval for rates, then what Hunter is really saying is that the system of state rate regulation is hopelessly incompetent and intellectually bankrupt. Otherwise, how could one say that the rates that are charged – and which had to meet legal/actuarial standards and regulatory approval – are unrelated to losses? Give me a break. Yet another hopelessly biased and ignorant statement from this guy.

  • October 26, 2006 at 3:55 am
    JB says:
    Like or Dislike:
    Thumb up 0
    Thumb down 0

    There\’s no doubt losses have a direct impact on the rating cycle, but just as important, so do investment returns. When the stock market went south in the early 2000\’s, rates went up, as expected. Now that the stock market has been heading in the other direction for a while, rates can continue to soften, because the investment returns are there to overcome poor loss experience. I think that\’s a big part of the insurance economics being referred to.

  • October 26, 2006 at 4:05 am
    Larry Krause says:
    Like or Dislike:
    Thumb up 0
    Thumb down 0

    I agree, as soon as I saw J. Robert Hunter quoted, I quit reading!

  • October 26, 2006 at 4:50 am
    Give the guy a break! says:
    Like or Dislike:
    Thumb up 0
    Thumb down 0

    C\’mon now, give the guy a break! He is, after all, in charge of AIR, making him the AIR-HEAD!! He is also belongs to the newly retitled plaintiff\’s attorney\’s group that we all had much more proper names for in a previous article. Give the guy a break…:-)

  • October 26, 2006 at 5:02 am
    Chad Balaamaba says:
    Like or Dislike:
    Thumb up 0
    Thumb down 0

    All I know is my rates didn\’t drop; however, carriers have been more careful when it comes to underwriting. Joe average doesn\’t understand, they only see profit, and in an election season it\’s easy to rail against the large, evil businesses that dare to make money. Maybe Oprah will have someone on her show to cry about their insurance rates and the evil carriers profit.

  • October 26, 2006 at 5:44 am
    Rocco says:
    Like or Dislike:
    Thumb up 0
    Thumb down 0

    Consumer groups are mostly a bunch of liberals who will never understand that the free market is the best regulator we have. My best guess is they are saying this because they do not like tort reform. Notice how such groups want to pay the lowest price for products, yet they support high costs for bringing such products to market. They are nothing but hypocrites and just like people in the racism industry who don\’t want racism to go away, these people will always want consumer drama so they can continue with having their jobs and as well as their nonsense.



Add a Comment

Your email address will not be published. Required fields are marked *

*