So… Mr. Insurer, you generously compensate your CEO, board of directors, and MGA with MILLIONS. However, when a large hurricane strikes, and you can’t pay your claims. faced with an inability to pay claims, and your company goes into receivership. You then transfer all your open claims to FIGA for handling and payment of the claims, and you sell your company assets to the highest bidder.
I have an idea, how about we allow you to rebrand and start afresh, so you can start the cycle all over again????
Yet another example of how screwed up our insurance market is. This is precisely one of the benefits the State needs to eliminate.
A Demotech rating of A Exceptional. We all know how much that means as everyone is pretty much A Exceptional. Just another carrier that will eventually slip into insolvency.
So… Mr. Insurer, you generously compensate your CEO, board of directors, and MGA with MILLIONS. However, when a large hurricane strikes, and you can’t pay your claims. faced with an inability to pay claims, and your company goes into receivership. You then transfer all your open claims to FIGA for handling and payment of the claims, and you sell your company assets to the highest bidder.
I have an idea, how about we allow you to rebrand and start afresh, so you can start the cycle all over again????
Yet another example of how screwed up our insurance market is. This is precisely one of the benefits the State needs to eliminate.
A Demotech rating of A Exceptional. We all know how much that means as everyone is pretty much A Exceptional. Just another carrier that will eventually slip into insolvency.