Grey Power Insurance

[Canuck2fan]

Canuck2Fan, how do the insurance companies that are private, and do not have shareholders, fit into the equation?

 

Exactly the same... It isn't rocket science, insurance companies have to put profits FIRST or they would be ground into dust. Unless they have a magic money tree in the back atrium.

[Mister G]

 

Exactly the same... It isn't rocket science, insurance companies have to put profits FIRST or they would be ground into dust. Unless they have a magic money tree in the back atrium.

What industry hasn't put profits first ? ? ?

 

I have a son that works for a insurance company.....he's a risk management senior adviser is all I can say he does (don't really understand the rest) .......but it doesn't matter what a company does, they all have their bottom line or there is no company period.....and when there is no company, who do you turn to ? ? ?

[Canuck2fan]

What industry hasn't put profits first ? ? ?

 

I have a son that works for a insurance company.....he's a risk management senior adviser is all I can say he does (don't really understand the rest) .......but it doesn't matter what a company does, they all have their bottom line or there is no company period.....and when there is no company, who do you turn to ? ? ?

 

EXACTLY.... The difference is with insurance companies some people who file claims, think the company is working for THEIR interest. I merely point out if insurance companies did that they would cease to exist.

 

Also there is no free market for auto insurance in Ontario is it mandated by law the insurance companies are guaranteed a percentage of profit after claim costs. So what other "private" business gets those perk? It is the exact opposite of how capitalism should set market prices.

[G.mech]

Every house insurance policy I have had since the early 80's has clearly stated (if you choose to read the policy that is) that someone has to check the house every 4 days for signs of leakage or heating failure if the homeowner or tenant is away. It's kind of sad what happened to this lady given the circumstances but you really cannot expect any insurance company to cover whatever happens in your absence just because you paid your premium and left the house unattended. We all complain about the premiums so in order to keep them low the companies have to limit their liability to a certain degree. Try leaving your keys in your car and see if they cover it when it's stolen. You need to read and understand your policy or have your broker go over it with you.

[Freshtrax]

I have a water leak sensor, and a thermostat that notifies me by phone if there are issues, I should talk to my insurance company to see if that is adequate.

[Garnet]

I know a guy in one our more affluent northern city's that checks property's on a weekly bases. It's a little side deal for him. If there is a problem he would hire a plumping company and over see the repair for a little more money and other stuff.

 

Good little side gig.