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To: Road Walker who wrote (171303)	9/27/2002 5:55:30 PM
From: BelowTheCrowd	Read Replies (2) \| Respond to of 186894

> The new agent said that homeowners insurance for coastal counties in Florida may end up being a government program, that every insurance company is lowering their risk profile. < More than likely, it'll become like the California situation as regards earthquakes. Homeowners insurance here just won't cover it and state-sanctioned earthquake coverage is designed mostly to protect the mortgage owner, rather than the homeowner. If you choose to live in this area, you do so with the knowledge that if your house gets destroyed in an Earthquake your recovery options are limited. I've never understood why people feel the government should provide insurance to cover them for otherwise uninsurable risks related to their own choices. It's true whether you're talking about earthquakes, floods, hurricanes, tornados or any other known natural risks for the area you live in, most of which cannot be easily predicted. mg

To: Road Walker who wrote (171303)	9/30/2002 8:21:30 AM
From: John F. Dowd	Read Replies (3) \| Respond to of 186894

John: Excellent post. US is certainly becoming entirely risk adverse and who is sought as the ultimate risk taker - the government. I mean this boomer generation won't even get on an airplane much less invest in legitimate companies at the lows. But it all goes back to the rate hikes while oil prices were going up and (a huge tax)the dot com thing was bursting.As I said then confidence is an easy thing to tear down but a difficult thing to restore. Inflation is something you can deal with deflation is another story. Let us pray that we have some investors left in this country that have some cajones left and trust in American ingenuity. Let us hope that the US does not dismantle our tech industry and pharmaceuticals and finance industry in the name of disguised socialism. Sure there have been some abuses but I like irrational exuberance better than what is going on today. Bush should shut up or put up as the uncertainty over this thing is also throwing fuel on the risk aversion pire. OT Anybody here no if it is possible to reformat a smart card? JFD

To: Road Walker who wrote (171303)	9/30/2002 4:17:05 PM
From: Amy J	Respond to of 186894

Hi John, re: your insurance post Excellent post. At some point when a sufficient amount of risk is shaken out of the system (and one might think we're getting close to that by now), the lack of taking risk could become another person's potential gain. Products age and at some point need to be replaced. Maybe that's when the cycle turns around. ( Btw, on our insurance, Chubb said it was a clerical error on their part and profusely apologized. Probably ditto for Unuum too. By law, they are required to notify you every year on your contract's anniversary indicating premiums could go up by 25% at the end of the year (not that they do, and in fact, they never have so far for us, but it's a Calif law that they must send out such a letter. Unfortunately, they used a generic form letter and neglected to check a box so the message was ambiguous. ) Chubb was one of the very few insurance companies that accepted a first time corporate insurance on a business. I certainly appreciate that at least one insurance company out of the bunch was willing to take on that risk. We've been more stable through this downturn than formerly well-thought of companies such as Enron, Worldcom, dotcoms, etc. etc. I read (I believe in SJMN?) that Moody (?) said the insurance sector is being downgraded to (I believe they may have said) poor (or some other less-than-positive adjective.) What's amazing too is, if you look at the stock performance using max years on INTC versus one famous insurance company often harped about, INTC is still doing better than it, even though the semiconductor industry is experiencing its worst economic downturn ever. But it wouldn't be fair to compare two different asset classes of different risk types and insurance serves an excellent purpose as it acts as a less risky investment but possibly with overall lower returns. I have an insurance product bought a long time ago, curently producing a 5% guaranteed gain that starts to look very good on days like today. What a nasty day. I know of one person that has a bet nasdaq will reach 700. Regards, Amy J