Hi Bob,

On Wed 2037-Mar-25 22:02, Bob Klahn (1:124/311) wrote to Richard Webb:

 RW>> IF it's the scale involved, oh well.  LET the angry policy
 RW>> holders force the sale of those wonderful buildings with
 RW>> the marble halls and flowing fountains.  LEt the angry

BK>>  Of course the price would be down, and mortgages hard to get.

 RW> THat's their problem.  THey still get to make up the
 RW> shortfall.  OUt of their personal fortunes if nothing else.

BK>  I can't seem to find a problem with that.

I can't either, it happens to the rest of us.  NOw I can
understand an insurance underwriter that gets bit hard by
hurricanes, etc.  even then, one should diversify, or be
careful what they underwrite.  Until state insurance
regulators got into the act many of them would charge me
more for insurance by virtue of the fact that I"m literally
a braille reading white cane carrying blind man.  NO
actuarial statistics can be pointed to which say I"m a
greater risk while just going about daily life, but they
could either refuse me altogether or charge me a higher
premium.  YEs, I understand the industry, used to sell
accident health and life insurance in a former life .
wHenever it serves the carrier they can always trot out such lofty phrases
as "feduciary responsibility" etc.  BUt, it
doesn't look to me as if AIG used any of that.

 RW> I hold insurance underwriters such as AIG in special
 RW> contempt when it comes to shennaigans like this.  AFter
 RW> all, the poor guy who bought that policy bought it because
 RW> he was either required to by law, or felt that he really
 RW> needed the protection.

BK>  And esp since insurance companies are supposed to be trusted. 

Ah yes, and those marble halls with flowing fountains are
supposed to impress Joe policyholder with how well they're
doing at living up to aforementioned feduciary
responsibilities.  We see the proof of thyat one here.

 RW> But you find out these dudes that sold you this snake oil
 RW> bought some more snake oil without looking carefully at
 RW> what was being purchased.

BK>  And get bonuses to keep them from jumping ship.

AGreed, and said bonuses are not earned, and should not be
given.  Poor performance should not merit a bonus.

 RW> BUt, your insurance carrier wants you to pay the equivalent
 RW> of another premium, and the guy down the road who doesn't
 RW> even insurance through them to pay one too.

BK>  I do believe you mentioned something about screws.

OH yah, lots of them in this.


Regards,
           Richard
--- timEd 1.10.y2k+