I remember Ramani saying in 2003 at the manager’s/director’s summit meeting that the stock would be at $100 within 5 years. In fact, he actually got it there. But to what end? They keep their dividends, outsource their jobs, muddy their claims processes by looking for the next best person to make them into Progressive? I’m glad I left, though I feel sorry for all of those still there.
And just how do they underwrite their small business? We just lost a furniture manufacturer to them, and they sold it for 1/2 our price, and allowed the agent to class it as “household furnishings” store. We also lost a manufacturer of electrical components, 2 years ago, and they’ve still got it. Some parts go into aircraft. They have it classed as a hardware distributor.
Are you kidding? Small business? Have you seen waht they are doing in Work Comp? No underwriting, cheap, cheap, cheap, and they pay a great commission.
What is Hartford doing? They are buying business and premium. why? To outrun losses, to improve their topline / premium writings, and to encourage a buyer. It looks good. Can you say ALLIANZ?
Sorry, I’m too busy trying to pass a stimulus bill with $300 million in it to educate about STD’s and contraception, $90 million in it to re-sod the National Mall for the celebration of my next 3 inaugurations, and $445 million to make sure every home, business and church has a life-size statue of ME.
Carla
I believe Hartford bought a Savings & Loan in order to quality for some of the Federal banking buyout money…it is probablly too late for any Federal oversight.
First I just want to thank you and all the citizens of america, of which I am not. for allowing Hartford to buy the smallest bank we could find so we could access your hard earned tax money through TARP.
Second – In an efford to keep Hartford afloat we will be laying off all underwriters and using our new automated underwriting systems and we will be moving all your business you have worked so hard to build to our customer service center in my home country of India. I regret that this comes with a 5% reduction in your commission (33%)
All of these efforts will allow myself to get a bonus this year. Again Thank you in advance for your generosity.
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I remember Ramani saying in 2003 at the manager’s/director’s summit meeting that the stock would be at $100 within 5 years. In fact, he actually got it there. But to what end? They keep their dividends, outsource their jobs, muddy their claims processes by looking for the next best person to make them into Progressive? I’m glad I left, though I feel sorry for all of those still there.
And just how do they underwrite their small business? We just lost a furniture manufacturer to them, and they sold it for 1/2 our price, and allowed the agent to class it as “household furnishings” store. We also lost a manufacturer of electrical components, 2 years ago, and they’ve still got it. Some parts go into aircraft. They have it classed as a hardware distributor.
Are you kidding? Small business? Have you seen waht they are doing in Work Comp? No underwriting, cheap, cheap, cheap, and they pay a great commission.
What is Hartford doing? They are buying business and premium. why? To outrun losses, to improve their topline / premium writings, and to encourage a buyer. It looks good. Can you say ALLIANZ?
Sorry, I’m too busy trying to pass a stimulus bill with $300 million in it to educate about STD’s and contraception, $90 million in it to re-sod the National Mall for the celebration of my next 3 inaugurations, and $445 million to make sure every home, business and church has a life-size statue of ME.
You’re on your own, Hartford!
Carla
I believe Hartford bought a Savings & Loan in order to quality for some of the Federal banking buyout money…it is probablly too late for any Federal oversight.
First I just want to thank you and all the citizens of america, of which I am not. for allowing Hartford to buy the smallest bank we could find so we could access your hard earned tax money through TARP.
Second – In an efford to keep Hartford afloat we will be laying off all underwriters and using our new automated underwriting systems and we will be moving all your business you have worked so hard to build to our customer service center in my home country of India. I regret that this comes with a 5% reduction in your commission (33%)
All of these efforts will allow myself to get a bonus this year. Again Thank you in advance for your generosity.