Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

Texas

TreasonousBastard

(43,049 posts)

1. If you worked in the industry, you may know what I mean when I mention...

Reply to TexasTowelie (Original post)

Fri Sep 7, 2012, 06:10 PM

Sep 2012

reinsurers have been burned horrifically-- even moreso than when I got out of the business 20 years ago while trying to get reasonable treaty conditions. We had to hold a lot more risk ourselves and couldn't live off of the float and overriding commissions any more.

Long gone are the days when you could just lay off risk and happily live with 110% loss ratios. All those classes about how to rate a risk started to mean something. And the policyholders howl-- not knowing how good they used to have it.

Edit history

Please sign in to view edit histories.

3 replies

= new reply since forum marked as read

Highlight:

State Farm to increase homeowners’ rates by up to 20 percent [View all] TexasTowelie Sep 2012 OP

If you worked in the industry, you may know what I mean when I mention... TreasonousBastard Sep 2012 #1

I agree with the points that you made regarding reinsurance and the upward pressure that has been TexasTowelie Sep 2012 #2

In New York, overreserving has consequences... TreasonousBastard Sep 2012 #3