Jerry – I heard that one of those Wisconsin companies is West Bend. they had a combined of 102 last year, and they are likely headed for 105 or 106 this year. Remember about 10 years ago when they got into so much trouble that they started non-renewing ALL business for about 2 or 3 months? They have a BIG new building to pay for. A 105 combined and low return on investments doesn’t make for a good combination.
Storm Losses. Reduced income from investments. And what about the economy, and how it impacts premium, exposures, cancellations due to bankruptcy, etc.? And how are these companies doing with all of the construction business? In our agency we are seeing expiring premiums reduced by 15-20% on GL and work Comp. And guess what, this hits us on the revenue side. Premium that we thought we had, we don’t. So how does this hurt the companies right now that are heavy in construction?
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Jerry – I heard that one of those Wisconsin companies is West Bend. they had a combined of 102 last year, and they are likely headed for 105 or 106 this year. Remember about 10 years ago when they got into so much trouble that they started non-renewing ALL business for about 2 or 3 months? They have a BIG new building to pay for. A 105 combined and low return on investments doesn’t make for a good combination.
Storm Losses. Reduced income from investments. And what about the economy, and how it impacts premium, exposures, cancellations due to bankruptcy, etc.? And how are these companies doing with all of the construction business? In our agency we are seeing expiring premiums reduced by 15-20% on GL and work Comp. And guess what, this hits us on the revenue side. Premium that we thought we had, we don’t. So how does this hurt the companies right now that are heavy in construction?