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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: ild who wrote (135954)11/28/2001 10:41:02 AM
From: ild  Read Replies (1) of 436258
 
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I'm not sure if it's been mentioned here or not, but 9-11's impact on the P&C insurers is starting to spread to the market place. My son, a P&C insurance broker, is looking at client (truckers, construction firms, etc) renewal rates that start at 40% increases and get worse from there. For cash flow critical businesses, this is a BIG hit. Renewal-time has never been fun for son, but he says current circumstances make it an order of magnitude worse. In the same connection, the insurers are scrambling to deal w/the issue of terrorism insurance, which they found themselves covering w/o any premium. Warren Buffett had an editorial in the Wash Post last week making the argument for an insurance equivalent of banking's FDIC to cope w/terrorism insurance.
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