09-11-2005, 03:56 PM
Doc,Sep 11 2005, 08:54 AM Wrote:Heard this morning that a couple of insurance companies are trying to file for some kind of special bankrupt status, to make the Government pay their bills, because they can not physically pay out the kind of money being estimated. Which means a lot of people depending on insurance monies are probably going to be screwed. Which is unfair and wrong. But what do you do when the estimated pay outs are going to cost more than your company is actually worth?
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Then let every shareholder, board member, and executive in that company cough up the dough to make the difference for their claims. And let them go under once every nickel is paid out to policy holders.
There are reserve requirements. There is massive regulation for insurance companies. Their busniess is risk and risk mitigation.
There is no free lunch, there is no security, there is no entitlement.
Occhi
Cry 'Havoc' and let slip the Men 'O War!
In War, the outcome is never final. --Carl von Clausewitz--
Igitur qui desiderat pacem, praeparet bellum
John 11:35 - consider why.
In Memory of Pete
In War, the outcome is never final. --Carl von Clausewitz--
Igitur qui desiderat pacem, praeparet bellum
John 11:35 - consider why.
In Memory of Pete