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re: Insurance Company Profits

Posted on 4/6/20 at 2:37 pm to
Posted by Penrod
Member since Jan 2011
57559 posts
Posted on 4/6/20 at 2:37 pm to
quote:

Shelter-in-Place Payback

Allstate auto insurance customers will receive a Shelter-in-Place Payback. Most customers will receive 15% of their monthly premium in April and May, totaling more than $600 million

Hey, I want to see the monkeys flying out that previous poster's arse.
Posted by sleepytime
Member since Feb 2014
3935 posts
Posted on 4/6/20 at 2:51 pm to
It’s already happened on the commercial side. The policyholder has to do a midterm self audit and request a refund. The carrier has to fast track the refund.
LINK
Posted by BoogaBear
Member since Jul 2013
7492 posts
Posted on 4/6/20 at 2:56 pm to
quote:

Hey, I want to see the monkeys flying out that previous poster's arse


Thread went pretty quiet after I dropped that in there
Posted by fallguy_1978
Best States #50
Member since Feb 2018
53839 posts
Posted on 4/6/20 at 2:58 pm to
shite. That's actually a good idea for a Q2 earnings play. Thanks baw
Posted by FLTech
he/won
Member since Sep 2017
29195 posts
Posted on 4/6/20 at 3:08 pm to
I stopped paying for mine 2 years ago because wall and Uber - told them to frick off
Posted by Havoc
Member since Nov 2015
39571 posts
Posted on 4/6/20 at 3:25 pm to
True but if premiums are based on conditions that no longer apply, like miles driven or areas driven to, then seems like a reasonable basis to require some form of refund, ie, the risk being insured against has been drastically decreased.
Posted by latxwoman
Member since Mar 2019
824 posts
Posted on 4/6/20 at 3:38 pm to
Allstate and American National are giving back $50.00 woo-wee. I have Progressive, those B's want my money.
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