[StBernard] Insurers Retreat From Coasts

[Westley Annis]

Westley,

Your comment "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."   You put it in easy to understand logic.

The major insurance carriers cannot refute that.  Allstate simply asked for
an increase, a 51% increase mind you, but it appears they are looking to
find a cost equation where they can continue to do business here.  But law
should be passed that would prohibit insurance carriers from not selling any
particular type of coverage that they offer in any other state.

John Scurich


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

> 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

>