I think the biggest issues are 2 fold here. The govt has already injected $150b into AIG. If they don’t pony up again, they look bad for having already bailed them out several times and failing at it. If they do bail them out, they look bad for throwing more good money after bad.
Same holds true for best ratings. If they suddenly downgrade AIG and change the way they assign ratings, then everyone will complain that they haven’t been doing it all the long. Don’t get me wrong, I fully believe AIG needs several, not just 1 downgrade. I hope it comes and forces them to post more collateral that they don’t have.
This is a no win situation for everyone EXCEPT AIG. We can get as pissed as we want as taxpayers/majority shareholders but it’s not going to do a bit of good.
The fact is nothing has changed w/ the new administration. Anyone who actually believes this “change” crap should seek therapy….or maybe a job at AIG.
There’s a reason AIG stock is trading over 99% lower than 1 yr ago. Its worthless…just like the idiots who ran that company into the ground.
I have to agree with that one guy who posted….the least they could’ve done is given us a reach around or at least talked dirty before they had their way with us(taxpayers)
AIG makes me sick. Nothing will improve until they fail. PERIOD! Until that happens, both AIG and the govt will continue to find BS ways to keep this zombie company propped up for a little bit longer. Why delay the inevitable. I say it’s time to face the music. Too bad that wont’ happen.
Now would be the time to man up and admit that we all would have been better off letting the holding company go into bankruptcy during that lost weekend last September.
Someone needs to tell the Treasury that there is an alternative market for every policy that AIG writes. The 60 Billion would more than make up the difference in AIG’s underpriced book;Pay the difference to the new carrier and the problem goes away.
Last time I checked, AIG no longer had a direct arm.
Take a stand for yourselves. Just quit placing business with AIG. Lose your cheap, short-sighted customers. You will be better off in the long run when you decide to deal with customers who show intelligence and integrity, and when you right-size your agency based on who is left. If you don’t have any customers left, you are probably in the wrong business anyway.
Hey! I know! By golly, I’m going to write to my congressman. I know that they are truly public servants and have the best interests of the public at heart! All those cynical stories about government being bought & paid for by the special interests can’t be true! We all know that Congress scrupulously follows the same laws that they make everyone else follow. Why they’d never use their positions to take political advantage of anyone or anything or to line their own pockets.
Finally someone gets it. Kudos to you Jeff for pointing out what everyone has failed to see. If you hate AIG so much, stop placing business with them. PERIOD. If your clients aren’t bright enough to see through all the lies and cheap premiums, then let them go. You’ll be better off in the long term anyway. I wish more producers acted on this idea.
Finally someone gets it. Kudos to you Jeff for pointing out what everyone has failed to see. If you hate AIG so much, stop placing business with them. PERIOD. If your clients aren’t bright enough to see through all the lies and cheap premiums, then let them go. You’ll be better off in the long term anyway. I wish more producers acted on this idea.
There are statutory reserves and guarantee funds in place to make sure all the policy holders get paid. The policyholders are protected.
They are doing their best to take the rest of the industry down with them. We see them consistently undercutting pricing to attract or retain business. This at a time when the market should be firming up due to the lack of investment income.
As others have pointed out…part of the problem is policyholders who care about price first….until they have a claim. In long-tail coverage such as workers’ compensation, insureds are foolish for placing business with AIG. They will not be around to service your claims for the next 10+ years. You will get what you pay for.
Finally, someone please explain to me how they can still have an AM Best rating of A when the only reason they are alive is a steady stream of government money. The rating agencies are absurd in how slow they respond to reality.
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I think the biggest issues are 2 fold here. The govt has already injected $150b into AIG. If they don’t pony up again, they look bad for having already bailed them out several times and failing at it. If they do bail them out, they look bad for throwing more good money after bad.
Same holds true for best ratings. If they suddenly downgrade AIG and change the way they assign ratings, then everyone will complain that they haven’t been doing it all the long. Don’t get me wrong, I fully believe AIG needs several, not just 1 downgrade. I hope it comes and forces them to post more collateral that they don’t have.
This is a no win situation for everyone EXCEPT AIG. We can get as pissed as we want as taxpayers/majority shareholders but it’s not going to do a bit of good.
The fact is nothing has changed w/ the new administration. Anyone who actually believes this “change” crap should seek therapy….or maybe a job at AIG.
There’s a reason AIG stock is trading over 99% lower than 1 yr ago. Its worthless…just like the idiots who ran that company into the ground.
I have to agree with that one guy who posted….the least they could’ve done is given us a reach around or at least talked dirty before they had their way with us(taxpayers)
AIG makes me sick. Nothing will improve until they fail. PERIOD! Until that happens, both AIG and the govt will continue to find BS ways to keep this zombie company propped up for a little bit longer. Why delay the inevitable. I say it’s time to face the music. Too bad that wont’ happen.
Now would be the time to man up and admit that we all would have been better off letting the holding company go into bankruptcy during that lost weekend last September.
Nuff Said
Time to let these guys die. they cheated and screwed up ther business with shaky deals. No more bailout.
Someone needs to tell the Treasury that there is an alternative market for every policy that AIG writes. The 60 Billion would more than make up the difference in AIG’s underpriced book;Pay the difference to the new carrier and the problem goes away.
Last time I checked, AIG no longer had a direct arm.
Take a stand for yourselves. Just quit placing business with AIG. Lose your cheap, short-sighted customers. You will be better off in the long run when you decide to deal with customers who show intelligence and integrity, and when you right-size your agency based on who is left. If you don’t have any customers left, you are probably in the wrong business anyway.
Hey! I know! By golly, I’m going to write to my congressman. I know that they are truly public servants and have the best interests of the public at heart! All those cynical stories about government being bought & paid for by the special interests can’t be true! We all know that Congress scrupulously follows the same laws that they make everyone else follow. Why they’d never use their positions to take political advantage of anyone or anything or to line their own pockets.
Finally someone gets it. Kudos to you Jeff for pointing out what everyone has failed to see. If you hate AIG so much, stop placing business with them. PERIOD. If your clients aren’t bright enough to see through all the lies and cheap premiums, then let them go. You’ll be better off in the long term anyway. I wish more producers acted on this idea.
Finally someone gets it. Kudos to you Jeff for pointing out what everyone has failed to see. If you hate AIG so much, stop placing business with them. PERIOD. If your clients aren’t bright enough to see through all the lies and cheap premiums, then let them go. You’ll be better off in the long term anyway. I wish more producers acted on this idea.
There are statutory reserves and guarantee funds in place to make sure all the policy holders get paid. The policyholders are protected.
They are doing their best to take the rest of the industry down with them. We see them consistently undercutting pricing to attract or retain business. This at a time when the market should be firming up due to the lack of investment income.
As others have pointed out…part of the problem is policyholders who care about price first….until they have a claim. In long-tail coverage such as workers’ compensation, insureds are foolish for placing business with AIG. They will not be around to service your claims for the next 10+ years. You will get what you pay for.
Finally, someone please explain to me how they can still have an AM Best rating of A when the only reason they are alive is a steady stream of government money. The rating agencies are absurd in how slow they respond to reality.