[StBernard] Insurers Retreat From Coasts

[Westley Annis]

I will agree they have an obligation to their shareholders to make a profit,
but it is just that, an obligation. It is not a guarantee that they will
make a profit.

Ask any of the big three automakers?  They also have an obligation to make a
profit.  How about the airlines?

Personally, I think it is all just a cover-up because the actuaries screwed
up when determining premium levels.  What is the difference if you sell
$100,000 worth of coverage against $200,000 worth of coverage?  At worst, it
should just be double the premium.

Now, I will give the insurance companies a little bit of reprieve.
Sometimes the government regulators force them to charge less than they need
to for the amount of coverage they are providing.  Some of the problems we
are facing in the insurance industry are governments fault.

Westley

-----Original Message-----


But ya know...Hartwig and the insurance industry **never** talk about what
their combined reserves are.
 
They have an obligation to shareholders......
Yeah, and you have an obligation to your clients who have faithfully paid
premiums year in and year out.
 
JY