Posted on 05/23/2002 6:05:11 AM PDT by TroutStalker
Edited on 04/22/2004 11:46:32 PM PDT by Jim Robinson. [history]
It's not you, it's your house. That's the harsh message being delivered by insurers to a growing number of homeowners.
The insurance industry has been cracking down on individuals who file too many claims. Now companies from State Farm to Nationwide are focusing on the houses themselves. Even if you have a squeaky-clean insurance record, the home you own -- or the home you want to buy -- may be tough to insure because it has had too many claims in the past.
(Excerpt) Read more at online.wsj.com ...
Try that; but, if you need more?
Don't be so lazy.
Check google like anyone else must; using any manner of querry phrases.
Try it.
...not to mention my brother-in-law's a Level-whatever ("Fellow"?) Actuary & CFO of an insurance company.
S&P lowers State Farms ratings
The insurance industry is rolling in profits.
Detailed information will be available on this page soon.
Hardly what I would call proof. Perhaps your brother-in-law can provide you with real data.
BTW, I don't understand why you call me lazy for not researching a claim YOU made. You made the comment. If you can't back it up, then you must be speculating.
One result is an industry in some financial difficulty. Before you purchase property or liability insurance from any company, check its financial rating. There are a number of rating agencies, but I suggest looking up the A M Best Insurance Reports at your local library.
I plugged in, "Insurance Company Profits" to Google?
Was rewarded with hundreds, if not thousands of entries; chronically the Insurance Industry & their financial state A to Z.
Entries made by entities ranging from individual company P&L reports to stockholders to detailed articles written by financial pubs such as Forbes et al.
Mostly Blue Sky, neighbor.
Don't believe me, though; go nuts, for yourself.
I've no time for FR's militant insurance lobby, truth be known.
My original comment was made to someone I know, knows what the score really is; v.s., the industry-spun propaganda.
...besides: I hear all about it every holiday & see the ins co fruits manifest in a myriad of ways, first-hand.
I'm confident IF this industry gouges, there'll be some new & creative way the free market will respond.
NOT unlike what happened to the Banking Industry when they went nuts in the 70s and 80s which spawned all manner of creative financing alternatives?
Insurance companies, in some instances, have very legit beefs when it comes to the HUGE payouts they have to make v.s. premiums paid -- from time to time -- due to periodic disasters.
And let us never mind these companies being the very favorite target of every thief & con artist out looking to make a fast buck, too; of which, there're many.
I am not totally unsympathetic to some grievances these businessmen have & make; nor, the way they must respond visa vi increased raised premiums.
...funny how the B&W printed word can sometimes pickup a *tone* to the reader, which the writer did not intend.
Deserves repeating.
The periodic disasters are the reason the industry exists.
Personally, I would, if I were the CEO of an insurance firm, charge trial lawyers a premium based on how much the trial lawyer industry costs my firm in litigation fees.
Of course, in return for getting a $150,000 premium on their BMW, they would probably sue me =:o)
911 stands to reason; however, the only price war I was aware of was the one they declared on me. {g}
Please, I pay a lot of $$s to the insurance industry for a wide variety of policies; including, some exotic coverages?
I've never made a claim ever; & the rates simply always go up.
So I suppose the angle here is that I & others who're good risks, are paying for those who aren't, huh?
Well, funny way to *reward* the good customer; body-slamming their wallet?
Don'tcha think?
"One result is an industry in some financial difficulty. Before you purchase property or liability insurance from any company, check its financial rating. There are a number of rating agencies, but I suggest looking up the A M Best Insurance Reports at your local library."
HA!!
Thanks; sage advise, Counselor.
...& do so before they check mine, eh? {g}
FR's militant insurance lobby? What proof do you have something like that exists here? You have just stated it as a fact. Back it up. That's all anyone has asked you to do here on anything else you have said. And you respond that you personally know one person know that has the inside scoop. Your "holiday" remark seem to indicate a "sniff of jealously".
All I know is what I have read today. From the links my agent gave me written by people that watch the insurance industry. Daily. I'm not in the insurance business. I pay 5 figures in premiums every year so I'd like them to be so fat and happy that they would compete more and I'd pay less.
Just to add one more point. I think that we should go to a "loser pays" system in America. You so me, you lose, you pay the costs. That would stop a lot of the lawsuits that get filed that have no merit. But the trial lawyers would have fits over that. Maybe someone with the militant trial lawyers lobby here on FR can comment on that. LOL!
Trial Lawyers?
Sure; goes without saying.
Buy how 'bout your *or* my neighbor(s) who're ordinarily decent people.
Except when they'd like to *upgrade* something they own; without, the *inconvenience* of having to pay for it?
This doesn't even account for the gajillions of dumbass-garden variety thieves permeating *everywhere* these days??
Either hitting US first & then in turn us hiiting our ins cos; or, hitting the insur companies outright? ~eh?
We all know shit roles downhill; & when it comes to a legal contract to indemnify one's assets?
Guess who's always at the bottom of ye ol' hill; always.
The truth of the situation is these insurance companies simply cannot afford to pursue all the claims having an odor, right?
"Personally, I would, if I were the CEO of an insurance firm, charge trial lawyers a premium based on how much the trial lawyer industry costs my firm in litigation fees."
Why Poobah; I'm shocked -- shocked I tell ya to hear you make such a suggestion.
We -- you & I -- would pay for that, anyway.
Most of these Insurance Industry CEOs regard the lawyers with an utter contempt; and, really they've some justification when the crooks outnumber the honest ones.
From my POV, it's the trial guys I have my Jihad with...*not* the regular, average attorney providing legal services.
"Of course, in return for getting a $150,000 premium on their BMW, they would probably sue me."
~eh?
Get RID of the "probably," will ya; that one's a *gimme*.
...you actaully have a sense of humor there, Poobah ol' man; Christ -- my heart. :o)
That's a joke, 'cool.
Kinda like the indian basketball team calling themselves, "The Fightin' Whiteys"?
Can ya see it now, eh?
I mean here, envision: an organization of guys wearing IBM Blue suites, white shirts, black ties wearing black fedoras & carrying those funny insurance books they used to carry years ago when they'd come to your home to collect?
Yea; the Insurance *mob* gettin' right in my face.
Scary, huh?
"What proof do you have something like that exists here? You have just stated it as a fact. Back it up."
HA!
You prove there isn't one...geshhhhh.
"And you respond that you personally know one person know that has the inside scoop. Your 'holiday' remark seem to indicate a 'sniff of jealously'."
I *love* my BiL, wiseguy.
What's mine is mine; &, what's his [read: your's] is his.
My life's *motto*.
I mean...it's not as if I'm wandering the earth wearing sandals & sackcloth, see?
No matter; I was going to tell you to, "here: sniff this"...
But, you'd think I was rude.
"I pay 5 figures in premiums every year so I'd like them to be so fat and happy that they would compete more and I'd pay less."
HAx2.
Really...I hear ya.
I'd say something about that; but, you'd only want proof ~& well...it's such a nice day outside today.
"Just to add one more point."
We'll see about that. :o)
"I think that we should go to a 'loser pays' system in America. You so me, you lose, you pay the costs. That would stop a lot of the lawsuits that get filed that have no merit. But the trial lawyers would have fits over that."
I agree; wholeheartedly & unequivocally -- so that settle that.
A very rare occurrence I agree with someone so completely, y'know.
I'd hope you appreciate this day for its historic meaning.
"Maybe someone with the militant trial lawyers lobby here on FR can comment on that. LOL!"
LOL if you want; but, you'll just get yourself sued asking *personal* questions like that one.
These days?
Maybe even lose your knee caps to a ball peened hammer; or, worse yet for making *trouble*, eh?
...well; that's how those Trial Lawyers do *business* in Arkansas, anyway. ;^)
For what? Trial lawyers are not a protected class (yet), so discriminate to your heart's content ;)
~oy vey.
...easy for him to say.
I don't know how or under what coverage it was filed, but homeowner's insurance paid for new carpet in the bedroom and ceramic tile in the bathroom.
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