...was just watching a TV racing program (at Road Atlanta no less where
I've personally done laps)Â ..bunch of Porsche classes ...9 hr endurance
race..
The entire race team was Hagerty! Bunch of youtube style 'sponsor'
messages sprinkled all through it, done by the Hagerty drivers.
Saw the new CEO talking about various aspects of racing, costs and what
he wanted the company to support in the way of getting more talent
behind the wheel in various race organizations. So yep...could see up
front, company monies now headed towards race team support.
I'd been considering Hagerty for awhile for my stable. Decision was
made for me after watching that show and listening to the CEO. One less
ins. company to ever consider here. :-(
ptegler
On 12/3/2021 10:48 PM, William Smith wrote:
> As a retired public company finance guy, I agree that growth is
> important to the public shareholders. However equally, if not more
> important, is net income and earnings per share as they relate to
> market value per share and dividends. Here is where the policy holders
> are at risk. One of the many factors contributing to net income &
> earnings/share is cost. Another is pricing.
>
> A major cost for insurance companies is claims cost. So, what can an
> insurance company do to reduce claims cost? ....... minimize claim
> payments! One of the ways it can do that is to tighten it's
> underwriting requirements; ie., making it tougher to get insurance in
> the first place. Another, which may be more important to us policy
> holders, is to be more strict in paying claims; e.g., more challenging
> of claim amounts, or even outright denials. (How many of us have had
> difficulties from time-to-time getting our health insurance claims paid?)
>
> As to pricing, of course they can increase premiums. However, absent
> price fixing collusion with other carriers, there is some competitive
> pressure to limit that.
>
> Summing up, for the time being, I'll give them the benefit of the
> doubt ...... but we'll have to watch our renewal premiums and claim
> experiences, and hope for the best.
>
> ** triumphs@autox.team.net **
>
> Donate: http://www.team.net/donate.html
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--
Paul Tegler
ptegler@verizon.net www.teglerizer.com
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