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.
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.
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.
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.
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…:-)
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.
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.
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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.
The title insulted reader\’s intelligence.
PC rate drop is a welcome fact. The report failed to proof the \”irrespective\” claim.
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.
Always a clear indication that whatever follows is worthless.
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.
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.
I agree, as soon as I saw J. Robert Hunter quoted, I quit reading!
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…:-)
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.
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.