As long as agents are willing to sell based on price we can hardly expect the clients to demand a good product at a fair price. The last I knew I received 100 pennies for each dollar I pushed across the change counter. To consistenly expect a different result leaves something out of the equasion. I have seen comp rates at less than prdicted loss factors making no sense at all. The way we market and price things has far reaching reprocussions. Kind of like buying from China because it is cheaper. Cheaper than what?
Tell it to Liberty Mutual, once again leading the way to the bottom. Raising cash to handle those looming sub-prime backed notes, boys? Time will tell–and this time pretty quick.
Liberty, and their regional minions. Is there an ounce of underwriting in their choice of accounts? In Illinois they “START” at 50% off, and that is only about 15% below the market. These guys are brilliant ! (gotta be proud to work for them…)
I’ve been saying for the past several months, this isn’t rocket science and WC will bring this market back toward a hardening trend. Especially when these idiots in the white towers (Liberty, Travelers, hungry & stupid regionals) see that the claims continue to develop, premiums continue to fall, and whoa – we are seeing return premiums in this economy??? In places like Cincinnati, OH, West Bend, WI, to Hartford, NY will they ever see the light and understand that you can’t treat WC as a loss leader? The tidal wave is nearing the shore!!! WAKE UP !!! (Zzzzzzzzzzzzz)
Let’s not let the facts get in the way of the conversation. I listened in on the last conference call and they do not have a subprime risk. I have seen no evidense of this. Being a mutual company they have no incentive to hide the truth.
I frequently see them accused of being priced higher than other much larger carriers.
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As long as agents are willing to sell based on price we can hardly expect the clients to demand a good product at a fair price. The last I knew I received 100 pennies for each dollar I pushed across the change counter. To consistenly expect a different result leaves something out of the equasion. I have seen comp rates at less than prdicted loss factors making no sense at all. The way we market and price things has far reaching reprocussions. Kind of like buying from China because it is cheaper. Cheaper than what?
Tell it to Liberty Mutual, once again leading the way to the bottom. Raising cash to handle those looming sub-prime backed notes, boys? Time will tell–and this time pretty quick.
Liberty, and their regional minions. Is there an ounce of underwriting in their choice of accounts? In Illinois they “START” at 50% off, and that is only about 15% below the market. These guys are brilliant ! (gotta be proud to work for them…)
I’ve been saying for the past several months, this isn’t rocket science and WC will bring this market back toward a hardening trend. Especially when these idiots in the white towers (Liberty, Travelers, hungry & stupid regionals) see that the claims continue to develop, premiums continue to fall, and whoa – we are seeing return premiums in this economy??? In places like Cincinnati, OH, West Bend, WI, to Hartford, NY will they ever see the light and understand that you can’t treat WC as a loss leader? The tidal wave is nearing the shore!!! WAKE UP !!! (Zzzzzzzzzzzzz)
Let’s not let the facts get in the way of the conversation. I listened in on the last conference call and they do not have a subprime risk. I have seen no evidense of this. Being a mutual company they have no incentive to hide the truth.
I frequently see them accused of being priced higher than other much larger carriers.