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re: Allstate had a 259% increase in profits
Posted on 5/1/25 at 8:02 am to boosiebadazz
Posted on 5/1/25 at 8:02 am to boosiebadazz
It has been interesting seeing the tort reform battle play out here in Texas. The main lobbying group leading it admitted a few weeks ago that they have no way to show caps on non-economic damages will lower premiums. But we need to pass the reform to understand what it will do!
2
Posted on 5/1/25 at 8:02 am to boosiebadazz
What are the actual numbers?
If net income was $1 million last year and now it’s $3 million then you have a 200% increase. Data matters.
If net income was $1 million last year and now it’s $3 million then you have a 200% increase. Data matters.
Posted on 5/1/25 at 8:03 am to forkedintheroad
quote:
Today I learned new word salad for ramming it up your arse.
Yep, insurance companies are mostly scams until you need one.
Posted on 5/1/25 at 8:05 am to boosiebadazz
quote:
The segment’s performance was buoyed by strategic rate increases and disciplined cost control
"Cost control" = denying legitimate claims or shorting claims and only paying out if the homeowner pushed hard enough
This post was edited on 5/1/25 at 8:05 am
Posted on 5/1/25 at 8:09 am to boosiebadazz
I do trust the numbers. The point being the roofer and PA crowd will lie about how the insurance company doesnt pay anything etc etc, and cry while the state is destroyed by Gordon and crew.
Posted on 5/1/25 at 8:11 am to stout
quote:
Cost control" = denying legitimate claims or shorting claims and only paying out if the homeowner pushed hard enough
And there come the lies I predicted. If only you actually knew the topic you post about. These insurers are paying plenty of illegitimate claims bc the public adjusters, attorneys, and roofers harass and threaten to no end, and the judges and juries are not smart enough to understand coverage and contracts.
Posted on 5/1/25 at 8:11 am to White Bear
quote:
We are absolutely forced to purchase liability for autos, which magically is 80% of my premium.
Driving is a privilege, and if you make a mistake that harms someone, they should not have to financially suffer die to you being too cheap to have insurance in place to make them whole.
You are free to self insure anything for yourself that you don't have financed.
Posted on 5/1/25 at 8:18 am to boosiebadazz
They can thank our dumb arse lawmakers for a lot of it
Posted on 5/1/25 at 8:18 am to White Bear
quote:Put up a surety bond then. Its legal in lieu of insurance, if you have the means to put up the bond.
Why not allow me to buy liability as I see fit? If I want to roll the dice, fricking let me.
If you don't have the financial means to put up a bond, then it means you don't have the means to pay for damages to someone else's vehicle in an accident you caused.
Posted on 5/1/25 at 8:18 am to Deplorableinohio
quote:
What are the actual numbers?
If net income was $1 million last year and now it’s $3 million then you have a 200% increase. Data matters.
I agree there should be more transparency around the rates and profits of insurance companies. Would you support legislation to that effect?
Posted on 5/1/25 at 8:20 am to LNCHBOX
who came up with driving is a privilege thing, we pay taxes for roads, we have a right for those roads, who owns the interstate system, we do if we are citizens, it should be a right to travel the roads not a privilege
Posted on 5/1/25 at 8:20 am to NIH
quote:
It has been interesting seeing the tort reform battle play out here in Texas. The main lobbying group leading it admitted a few weeks ago that they have no way to show caps on non-economic damages will lower premiums. But we need to pass the reform to understand what it will do!
I’ve been too busy to really dive in, but I would be interested to know how many states are having a tort reform battle right now. I know of Louisiana, Georgia and Texas but I’m sure there are more.
I’d be more interested to see a chart of the various tort reform measures going on around the country compared to each states ranking on affordability of auto insurance. Bonus points if we can also see the regulatory structure in each state surrounding rate increases.
This post was edited on 5/1/25 at 8:21 am
Posted on 5/1/25 at 8:21 am to coffeesmeller
quote:
it should be a right to travel the roads
You can travel the roads all you want. If you want to do it in your own vehicle, you have to be able to meet certain standards. It's pretty fricking simple.
Posted on 5/1/25 at 8:22 am to boosiebadazz
Allsnake. Horrible experience with them with a roof claim
Posted on 5/1/25 at 8:23 am to TigerintheNO
quote:
They only have to pay out $1.2 billion for the fires, total cost to pay for the fires will be between $35-45 billion.
Member when all of the Cali people made jokes about Katrina and would say
"don't live in an area where hurricanes are likely to hit or live below sea level"
Right back at ya
Posted on 5/1/25 at 8:23 am to boosiebadazz
quote:
I agree there should be more transparency around the rates and profits of insurance companies. Would you support legislation to that effect?
It sounds good on the surface, but it'll inevitably be used as a political tool in years where there's no major natural disasters and loss ratios are unusually low. "Look at how much profit these insurance companies are making. Vote for me to reign in these insurance profits. They only paid 25 cents out in claim payments for every dollar they took in last year." And then it'll be silence the year when you have a few major hurricanes and loss ratios are 300% of the company's premium revenue that year.
Posted on 5/1/25 at 8:25 am to coffeesmeller
quote:
who came up with driving is a privilege thing, we pay taxes for roads, we have a right for those roads, who owns the interstate system, we do if we are citizens, it should be a right to travel the roads not a privilege
Probably the smart folks that came up with capitalization and punctuation.
Posted on 5/1/25 at 8:26 am to coffeesmeller
quote:
we pay taxes for roads
Yeah, in the form of a consumption tax on gas and diesel. State and feds both have fuel taxes that are included in the price at the pump.
If you aren't driving, you aren't filling a gas tank, so you aren't paying the tax that funds the road systems.
This post was edited on 5/1/25 at 8:27 am
Posted on 5/1/25 at 8:27 am to White Bear
quote:
We are absolutely forced to purchase liability for autos, which magically is 80% of my premium.
You can put up cash in Louisiana equivalent to the minimum required liability coverage and self insure, deposited with the secretary of the department of public safety or wherever the statute(s) indicate. Look it up.
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