Cheney, Bush & Fox News (Murdoch) have conspired to ratchet up global warming to create natural disasters. They also have managed to entrapped the “Sex Poodle” in an abscam sort of sting operation to silence his his opposition, and they have also conspired with Travelers executives to lowball rates to acquire business, suffer losses due to the planned global warming, so they could then ratchet up the rates so as to then screw their customers as planned.
You forgot that they should apply for government lonas that aree tax payer funded and never paid back because executives take all the profits in bonuses!
It’s plain that there is a great deal of cynicism about this, and I understand why. On the other hand, I’ve seen an unusually large number of weather-related claims in the northeast this year due to microbursts. These were almost unheard of 10 years ago, but are so common this year that something definitely seems more extreme about the weather – and Travelers’ claim seems entirely plausible to me.
Midwest weather claims have upticked significantly over the past 10 years, and the real story is that this could be the final nail for so many of these regionals. Lib Mutual isn’t going to stand for Indiana’s big losses in the MW P/L market – and you KNOW that Safeco won’t tolerate it. Meanwhile, carriers like West Bend, Acuity, Secura, United Fire, etc., will have to decide between paying much higher CAT treaty premiums or keeping more. With combined ratios running in the 100’s (how many years in a row WB?) they can’t keep more in retention. So premiums finally gotta go up!
PREDICTION: Look for some of these regionals to start posting P/L rate increase of 10-20 percent by the end of 2010. Or higher deductibles. Or big premium increases on water back-up, wind, etc. etc.
And you know Traveler’s will take advantage of this as well.
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this is all Dick Cheney’s fault.
Cheney, Bush & Fox News (Murdoch) have conspired to ratchet up global warming to create natural disasters. They also have managed to entrapped the “Sex Poodle” in an abscam sort of sting operation to silence his his opposition, and they have also conspired with Travelers executives to lowball rates to acquire business, suffer losses due to the planned global warming, so they could then ratchet up the rates so as to then screw their customers as planned.
You forgot that they should apply for government lonas that aree tax payer funded and never paid back because executives take all the profits in bonuses!
It’s plain that there is a great deal of cynicism about this, and I understand why. On the other hand, I’ve seen an unusually large number of weather-related claims in the northeast this year due to microbursts. These were almost unheard of 10 years ago, but are so common this year that something definitely seems more extreme about the weather – and Travelers’ claim seems entirely plausible to me.
Midwest weather claims have upticked significantly over the past 10 years, and the real story is that this could be the final nail for so many of these regionals. Lib Mutual isn’t going to stand for Indiana’s big losses in the MW P/L market – and you KNOW that Safeco won’t tolerate it. Meanwhile, carriers like West Bend, Acuity, Secura, United Fire, etc., will have to decide between paying much higher CAT treaty premiums or keeping more. With combined ratios running in the 100’s (how many years in a row WB?) they can’t keep more in retention. So premiums finally gotta go up!
PREDICTION: Look for some of these regionals to start posting P/L rate increase of 10-20 percent by the end of 2010. Or higher deductibles. Or big premium increases on water back-up, wind, etc. etc.
And you know Traveler’s will take advantage of this as well.