Home Decor

eg: UK or Brides UK or Classical Art or Buy Music or Spirituality
 
Business & Money
Technology
Women
Health
Education
Family
Travel
Cars
Entertainment
Featured Sites
SD Editorials
Online Guide and article directory site.
Foodeditorials.com
Over 15,000 recipes & editorials on food.
Lyricadvisor.com
Get 100,000 Lyric & Albums.

Analysis Of Insurance Companies

    View: 
More Articles from
California Real Estate Requirements
Building Without A Permit
Buying And Selling House
Dubai Short Term Rentals
East Texas Hunting Land
Eco Friendly Wedding Invitations
Farm Land For Sale
Fiber Metal Hard Hat
How To Catch Worms
Not Easy Being Green
One Bedroom Apartment Rental
Restaurants In Mt Pleasant
To Buy A House
Usda Rural Development Loans
Western North Carolina Homes For Sale
Eco-Brokers
Easy way to get details about real estate developers in India
Early Retirement for Everyone
Easy Tips To Identify Good Real Estate Brokers
East Hollywood Lofts: Discover A Dynamic Living Experience
Easy Tips For Buying Timeshares
» More on
First Time Home Buyers Guide
As the hurricane season gets underway, thousands of homeowners have started receiving unwanted letters from Allstate Insurance. The letter begins with, "We're writing to you with what we know is unfortunate news about your Allstate Insurance. The letter then went on to say, their home was being dropped from cover "because it's in the path of future hurricanes".

You may well think that this reader lives in New Orleans or Florida, but you would be wrong this reader lives in New York. The full impact of Hurricane Katrina is now being felt many hundreds of miles away from where it first made land last year. Many insurers are now scrambling to reduce their exposure to any future hurricanes that could hit their shareholders profit.

Allstate the nations number 2 insurer is canceling more than 30,000 homeowners insurance in and around the coastal counties of New York. The reason for this action they say is the the need to protect themselfs from future storms. They (Allstate) of course are not the only major insurance company to do this Nationwide Mutual Insurance Co. is also no longer writing new policies on the eastern half of Long Island, N.Y.

Should we really be surprised by this type of action, no it's a strategy they have used before. In 1992 after Hurricane Andrew most of the insurers scaled back their presence in Florida. This forced thousands of local residents into using the expensive state-run insurance pool.

These companies go to great lengths to point out that a single event like Hurricane Katrina could wipe out years of savings. This they stress could very well put the entire company with all it's policyholders from all over the country at risk. There reasoning behind this policy is even though the Northeast has not had a direct hit from a hurricane in many decades, the high replacement value of homes in their portfolio would make them vulnerable.

The biggest irony for me after last year's storm is that the insurance companies had just reported a record $43 billion profit for the year 2005. The Insurance Information Institute, a trade group reported that this was an 11.7 percent increase over the previous year and was in fact the highest net income since 1991.

Why is it that we as homeowners are asked to remain loyal to these "caring companies", our friends with safe hands. We are requested to pay up ever increasing amounts of money without question every year, many of us have never made any claims, but as soon as there "COULD, MIGHT" be a problem we are dumped without a second thought.

If they (the insurers) spent less of our money on all that very expensive TV advertising, telling us "How Wonderful" they were going to be when we needed them the most there would be no need to cancel our policies.

What they are doing to us is "Legalized Mugging" they may as well write polices with the title NO CLAIMS POLICY. After all we wouldn't want their shareholders to lose any sleep over the possibility of paying out on claims that could hit their profits.

Have an opinion or a question you would like me to answer, then write me! http://www.CarlHampton.com
Analysis Of Insurance Companies
As the hurricane season gets underway, thousands of homeowners have started receiving unwanted letters from Allstate Insurance. The letter begins with, "We're writing to you with what we know is unfortunate news about your Allstate Insurance. The letter then went on to say, their home was being dropped from cover "because it's in the path of future hurricanes".

You may well think that this reader lives in New Orleans or Florida, but you would be wrong this reader lives in New York. The full impact of Hurricane Katrina is now being felt many hundreds of miles away from where it first made land last year. Many insurers are now scrambling to reduce their exposure to any future hurricanes that could hit their shareholders profit.

Allstate the nations number 2 insurer is canceling more than 30,000 homeowners insurance in and around the coastal counties of New York. The reason for this action they say is the the need to protect themselfs from future storms. They (Allstate) of course are not the only major insurance company to do this Nationwide Mutual Insurance Co. is also no longer writing new policies on the eastern half of Long Island, N.Y.

Should we really be surprised by this type of action, no it's a strategy they have used before. In 1992 after Hurricane Andrew most of the insurers scaled back their presence in Florida. This forced thousands of local residents into using the expensive state-run insurance pool.

These companies go to great lengths to point out that a single event like Hurricane Katrina could wipe out years of savings. This they stress could very well put the entire company with all it's policyholders from all over the country at risk. There reasoning behind this policy is even though the Northeast has not had a direct hit from a hurricane in many decades, the high replacement value of homes in their portfolio would make them vulnerable.

The biggest irony for me after last year's storm is that the insurance companies had just reported a record $43 billion profit for the year 2005. The Insurance Information Institute, a trade group reported that this was an 11.7 percent increase over the previous year and was in fact the highest net income since 1991.

Why is it that we as homeowners are asked to remain loyal to these "caring companies", our friends with safe hands. We are requested to pay up ever increasing amounts of money without question every year, many of us have never made any claims, but as soon as there "COULD, MIGHT" be a problem we are dumped without a second thought.

If they (the insurers) spent less of our money on all that very expensive TV advertising, telling us "How Wonderful" they were going to be when we needed them the most there would be no need to cancel our policies.

What they are doing to us is "Legalized Mugging" they may as well write polices with the title NO CLAIMS POLICY. After all we wouldn't want their shareholders to lose any sleep over the possibility of paying out on claims that could hit their profits.

Have an opinion or a question you would like me to answer, then write me! http://www.CarlHampton.com
blog comments powered by Disqus Comments
  • Related Articles
  • Author
  • Most Popular
•American Life Insurance Companies, by Jonathan Carlson
•Analysis Of Insurance Companies, by Carl Hampton
•Association Of Insurance Companies, by Adel Khamis Hassan
•Best Term Life Insurance Companies, by Fred Romano
•Comparison Of Insurance Companies, by Allison Ryan
Carl Hampton has sinced written about articles on various topics from Finances, tax and Real Estate. Your" Money Matters By Carl Hampton Author of "From Credit Despair To Credit Millionaire"http://www.CarlHampton.com. Carl Hampton's top article generates over 49500 views. Bookmark Carl Hampton to your Favourites.
Best Place To Stay Disney World
Let your imagination start to soar and plan a vacation to remember Disney provides one kind of magic, and the rest is up to you and the people you choose to share it with
 
A Guide to Business | Guide to Technology | Guide to Women | Guide to Health | Family Guide to | Travel & Vacations | Information on Cars

EditorialToday Home Decor has 1 sub sections. Such as Home Decor. With over 20,000 authors and writers, we are a well known online resource and editorial services site in United Kingdom, Canada & America . Here, we cover all the major topics from self help guide to A Guide to Business, Guide to Finance, Ideas for Marketing, Legal Guide, Lettre De Motivation, Guide to Insurance, Guide to Health, Guide to Medical, Military Service, Guide to Women, Pet Guide, Politics and Policy , Guide to Technology, The Travel Guide, Information on Cars, Entertainment Guide, Family Guide to, Hobbies and Interests, Quality Home Improvement, Arts & Humanities and many more.
About Editorial Today | Contact Us | Terms of Use | Submit an Article | Our Authors | Most Popular