Re: OT--the Real Deal on Insurance!

Posted by Brian in NY on January 03, 2005 at 11:56:52 from (24.97.74.111):

In Reply to: Re: OT--the Real Deal on Insurance! posted by Mike (inWisc.) on January 03, 2005 at 10:58:58:

I am sorry but I did not intend to say that the insurance is a low profit business. But do not make the mistake of thinking that the insurance companies are taking in cash hand over fist and relying only on premiums to make a profit. Investment is a HUGE factor. I am not familiar with either of the companies you mentioned, but I would guess that they are relatively small (compared to the big players like Allstate, Farmers, State Farm etc.) "niche" carriers who have had great luck on loss ratios due to their selective marketing. It can be done.

In general, however, the average homeowners carrier experiences loss ratios much greater than you probably think.

A great resource to check out these figures is the insurance information institute....I have posted the link below.

I can see you are bitter about insurance premiums, and I don't blame you...but I think once you see the factual information in print you might be less inclined to think that you are being "raped" by your insurer. Why would any insurance company be in business if there were NO profit? If your state does not regulate premiums I suggest contacting your state representatives and asking why. Who knows, maybe you will spark something big!

• Insurance Information Institute Webpage

Follow Ups:

• Re: OT--the Real Deal on Insurance! Mike(inWisc.) 12:45:49 01/03/05 (0)

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