No Federal Financial Aid for Tornado Victims....

[redcliffsw]

Ron Paul is right about this........

http://www.nationaljournal.com/2012-presidential-campaign/ron-paul-no-federal-financial-aid-for-tornado-victims-20120304?mrefid=election2012

[upoladeb]

if the insurance co. would stand good for what they charge,it would help alot,but more people are after getting the"governments" money before its sent to another contry

[srkruzich]

if the insurance co. would stand good for what they charge,it would help alot,but more people are after getting the"governments" money before its sent to another contry

I don'tknow of any that don't stand good. IF they don't go to the insurance commissioner.  Secondly, if these are fly by night insurance companies, then that is the homeowners fault. They didn't do their research.

[Diane Amberg]

Not so....Some go out of business if something like Rita and Katrina happen.They run out of money before they pay off everyone.     Kemper ,which had been a solid big company managed to pay off but then went out of business.They had been our car insurers and we had to find a new company.

[srkruzich]

Not so....Some go out of business if something like Rita and Katrina happen.They run out of money before they pay off everyone.     Kemper ,which had been a solid big company managed to pay off but then went out of business.They had been our car insurers and we had to find a new company.

Then those who went with the companies that went out of business, did not do their research.  They did not investigate the assets of their insurance company.  SImple isn't it to shop around. The truth is the homeowners took a gamble on the cheapest insurance they could get. And those companies did not control the assets necessary to insure all those people.  Not my problem not the governments problem either!

[flintauqua]

The accountibility to policy holders went out the window when most insurance companies converted from being mutuals to being publicly traded corporations.  As a mutual, the company acted in the best interests of the policy holders because they were the owners.  Once they became a publicly traded corporation, the management had to answer to the shareholders, raising policy premiums and lowering payouts to policy holders to increase returns to the shareholders.

[Patriot]

The accountibility to policy holders went out the window when most insurance companies converted from being mutuals to being publicly traded corporations.  As a mutual, the company acted in the best interests of the policy holders because they were the owners.  Once they became a publicly traded corporation, the management had to answer to the shareholders, raising policy premiums and lowering payouts to policy holders to increase returns to the shareholders.

While we may disagree on most things, I believe you're right in your comparison here.  Same holds true vis a vie banks vs credit unions.

[srkruzich]

The accountibility to policy holders went out the window when most insurance companies converted from being mutuals to being publicly traded corporations.  As a mutual, the company acted in the best interests of the policy holders because they were the owners.  Once they became a publicly traded corporation, the management had to answer to the shareholders, raising policy premiums and lowering payouts to policy holders to increase returns to the shareholders.

When did this relieve the consumer of the responsibility of shopping for the most stable company? 

[flintauqua]

Steve, chill.  I never said it relieved the consumer of due diligence.  It was a thought that was related to this thread, one that simply implies that the relationship between the insurance companies and the consumer has changed over time.

[srkruzich]

Steve, chill.  I never said it relieved the consumer of due diligence.  It was a thought that was related to this thread, one that simply implies that the relationship between the insurance companies and the consumer has changed over time.

Ok I do agree.  They have gone from a good idea to a tank of thieves in a few short 80 years.  I think it is 80 years.  I remember my grandpa talking about them coming around to his house and trying to sell it. Most folks wouldn't buy cause it was considered gambling.   Now the corps as you say have managed to slide into bed with govt and require insurance on everyone.   More like raceteering than a free enterprise business.