Robert Hartwig
Robert Hartwig
based cost families million per recent running total
Based on recent precedents, compensation payments to passengers' families are running at about $2.4 million per passenger, which suggests the total cost to insurers could be between $250 million to $350 million.
cost
We dodged a bullet. But it's still probably going to cost insurers in the vicinity of $4.5 billion.
cost
We dodged a bullet, ... But it's still probably going to cost insurers in the vicinity of $4.5 billion.
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Rising medical costs are the principle driver behind higher auto insurance prices in the U.S. and a significant share of that pressure is due to abuse and in some cases outright fraud.
behind company insurance knowing wheel
They can't get behind the wheel once without your insurance company knowing about it.
adjustment certainly cycle expecting frequent intense next
We are certainly expecting that for the next 20 years or so we will be in a cycle of more frequent and intense storms. There's going to have to be an adjustment in the industry.
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What Katrina and Rita together are going to reveal is the shocking lack of flood coverage among homeowners, even those very likely to have their homes threatened by flood.
claims directly fewer increase lower overall rate translate
Fewer claims translate directly into a lower overall rate increase for consumers.
evidence frequent hurricane season storms
There's overwhelming evidence that the 2006 hurricane season will be longer, and storms will be more frequent and intense. We could see 20 years of this.
adjust certain exposure found issue necessary number segments united
This is not a new issue in the industry. For a number of years, insurers have found it necessary to adjust their exposure in certain catastrophe-prone segments of the United States.
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You should assume that as charitable as it is, you have total liability for these individuals, in the same way as if a stranger came to your house just invited for a dinner party. If they slipped and fell, you're going to be liable for them. You do not enjoy any immunity from liability. It's a sad statement, but that's the world we live in today.
changes people risk
You're going to be on the hook. What if one of the people is a 17-year-old? That dramatically changes your risk profile.
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This is an insurance adjuster's worst nightmare. We're seeing tens of millions of additional damage each day and the meter is still running.
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These soldiers put their lives on the line and deserve the utmost respect. But even big companies haven't thought about their obligations to these people.