It should be evident by watching American Advertising. American auto insurance companies are in the final throes of their war for customers.
The reasons are simple enough:
-There are few cash-flow cows remaining to American enterprise.
-The insurance companies actuarial tables assume infinite energy growth, which has ceased. They have nothing left to due but drive cash flow by under-cutting each other.
-Thus you witness their orgy of price slashing, that will lead to their demise. Each subsequent Irene brings their crisis closer.
any time now!
PeakOil is You
America's Insurance Crisis
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America's Insurance Crisis
by MD » Fri 23 Sep 2011, 11:50:31
Stop filling dumpsters, as much as you possibly can, and everything will get better.
Just think it through.
It's not hard to do.
Just think it through.
It's not hard to do.
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MD - COB
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Re: America's Insurance Crisis
by MD » Fri 23 Sep 2011, 11:51:48
On the up-side maybe it will drive tort reform, but even if so it will be too little too late.
Stop filling dumpsters, as much as you possibly can, and everything will get better.
Just think it through.
It's not hard to do.
Just think it through.
It's not hard to do.
-
MD - COB
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- Joined: Mon 02 May 2005, 03:00:00
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Re: America's Insurance Crisis
by MD » Fri 23 Sep 2011, 12:02:16
"What are we gonna do George? It looks bad!" Sam said to the window overlooking the Hudson.
"We keep adding customers and hope we don't get crushed by our own actuarial tables?" George answered from the foyer, where he had just stepped off the elevator.
"We've bet our futures and our fortunes on those algorithms, and now we are betting against them?" Sam sneered at the skyline.
"Maybe the dice will roll our way," George said hopefully.
"No. It's more like we're hoping for our number to come up on the wheel, and there's nothing we can do but watch the ball roll round and round, and hold our breath."
George had no answer.
"We keep adding customers and hope we don't get crushed by our own actuarial tables?" George answered from the foyer, where he had just stepped off the elevator.
"We've bet our futures and our fortunes on those algorithms, and now we are betting against them?" Sam sneered at the skyline.
"Maybe the dice will roll our way," George said hopefully.
"No. It's more like we're hoping for our number to come up on the wheel, and there's nothing we can do but watch the ball roll round and round, and hold our breath."
George had no answer.
Stop filling dumpsters, as much as you possibly can, and everything will get better.
Just think it through.
It's not hard to do.
Just think it through.
It's not hard to do.
-
MD - COB
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- Joined: Mon 02 May 2005, 03:00:00
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Re: America's Insurance Crisis
by prajeshbhat » Fri 23 Sep 2011, 12:34:43
$this->bbcode_second_pass_quote('MD', 'T')he reasons are simple enough:
-There are few cash-flow cows remaining to American enterprise.
-The insurance companies actuarial tables assume infinite energy growth, which has ceased. They have nothing left to due but drive cash flow by under-cutting each other.
-Thus you witness their orgy of price slashing, that will lead to their demise. Each subsequent Irene brings their crisis closer.
-There are few cash-flow cows remaining to American enterprise.
-The insurance companies actuarial tables assume infinite energy growth, which has ceased. They have nothing left to due but drive cash flow by under-cutting each other.
-Thus you witness their orgy of price slashing, that will lead to their demise. Each subsequent Irene brings their crisis closer.
They could insure the people who don't own cars but who think they will own cars sometime in the future. Then combine all those insurances in one big package, chop the package into securities and sell them to unsuspecting investors all over the world.
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Re: America's Insurance Crisis
by nobodypanic » Fri 23 Sep 2011, 16:40:17
$this->bbcode_second_pass_quote('MD', 'I')t should be evident by watching American Advertising. American auto insurance companies are in the final throes of their war for customers.
The reasons are simple enough:
The reasons are simple enough:
$this->bbcode_second_pass_quote('MD', ' ')-There are few cash-flow cows remaining to American enterprise.
falling rate of profit. check.
$this->bbcode_second_pass_quote('MD', '-')The insurance companies actuarial tables assume infinite energy growth, which has ceased. They have nothing left to due but drive cash flow by under-cutting each other.
actually they assume infinite economic growth, and out of structural necessity, but i suppose you could argue your point. in any case, when capitalism is in crisis, it's tendency to centralize and concentrate capital moves to the fore.
$this->bbcode_second_pass_quote('MD', '-')Thus you witness their orgy of price slashing, that will lead to their demise. Each subsequent Irene brings their crisis closer.
it will only lead to the demise of the smaller, weaker, individual capitals; the larger ones will do fine so long as they can maintain profitability, e.g., expanding their share even in a declining market.
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