Mark, if you “WORK” in the insurance industry you know if AIG did fail the ramifications on all other companies would be negative and HUGE. Ever look into how much reinsurance they write? Perhaps it maybe your company or one you write for.
Do yourself a favor take a good look at their extended finacials. If AIG goes down in some way we will all be brought down. Wether by major increases in premium for companies that we work for or deal with and some smaller companies could actually go under due to their loss of reinsurance and just a extremly tightening of markets.
Look at the history of Chrysler under Lee Iacocca and NYC back in the 70’s BOTH had a bailout by the Federal Gov’t.
I do wonder though about some of the people who put posting on this site. Do they actually have any idea as to the enormities and complexities of this industry?
Perhaps some of us should actually but a little bit of thought before putting a post on this site. It is indended for those who want to remain an informed insurance professional regardless of what job in this business we have. I guess even the janitor can post on it.
I agree with you all. I used to sell auto insurance for AIG. I always had trouble hitting goal because i would, hold on are you ready, underwriter my accounts. I wouldn’t ignore it if someone told me they had a claim like some other reps who where hitting the highest goals and raking in the cash. $3K-$4K extra EVERY MONTH!
If they want to run this like a capitalist society they should let the weak ones die. AIG may have an impact globally, but guess what, there’s other companies out there.
We are all in awe of your intellect, and envious of your ability to alienate.
You are, undoubtedly, an insurance executive. In fact, I think I know you.
Signed,
The Janitor.
Do people really think this is all about “auto insurance”.
AIG holdings is so much bigger than piddly little personal lines risks.
They are not only the backbone of the ENTIRE insurance industry. They are a cornerstone of the US economy..
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Ok, I’ve got to go home now. But, that was even funnier!!!
Way to bust a poser.
All P & C policies are safe to those who asked.
Mark, if you “WORK” in the insurance industry you know if AIG did fail the ramifications on all other companies would be negative and HUGE. Ever look into how much reinsurance they write? Perhaps it maybe your company or one you write for.
Do yourself a favor take a good look at their extended finacials. If AIG goes down in some way we will all be brought down. Wether by major increases in premium for companies that we work for or deal with and some smaller companies could actually go under due to their loss of reinsurance and just a extremly tightening of markets.
Look at the history of Chrysler under Lee Iacocca and NYC back in the 70’s BOTH had a bailout by the Federal Gov’t.
I do wonder though about some of the people who put posting on this site. Do they actually have any idea as to the enormities and complexities of this industry?
Perhaps some of us should actually but a little bit of thought before putting a post on this site. It is indended for those who want to remain an informed insurance professional regardless of what job in this business we have. I guess even the janitor can post on it.
I agree with you all. I used to sell auto insurance for AIG. I always had trouble hitting goal because i would, hold on are you ready, underwriter my accounts. I wouldn’t ignore it if someone told me they had a claim like some other reps who where hitting the highest goals and raking in the cash. $3K-$4K extra EVERY MONTH!
If they want to run this like a capitalist society they should let the weak ones die. AIG may have an impact globally, but guess what, there’s other companies out there.
These folks lived by the sword and should die by the sword.
Where have rating agencies AM Bests; Moodey’s; S&P & Fitch been before yesterday – while executives and large stockholders drain false wealth????
Why was collateralized debt securities not reviewed?
(All while real assets went to mergers, dividends and bonuses.)
Now, follow the money. See who gets a taste and where part of it vaporizes.
Greed wins the day…and again.
general lee
Amen Chuck! And General Lee you hit the nail on the head and drove it through!
Mongoose, you are really hank greenberg posing as someone else aren’t you?
All this about an AIG bankruptcy filing and Fed bailout, and the carrier still gets an “A” rating from Best! What financials are they reviewing?
We are all in awe of your intellect, and envious of your ability to alienate.
You are, undoubtedly, an insurance executive. In fact, I think I know you.
Signed,
The Janitor.
Do people really think this is all about “auto insurance”.
AIG holdings is so much bigger than piddly little personal lines risks.
They are not only the backbone of the ENTIRE insurance industry. They are a cornerstone of the US economy..