Jackson Jambalaya

insurance companies don't compete with each other, they work together and collude to keep premiums as high as possible. you didnt know that?........now you know.

It's a problem that insurance companies "expand" the" high risk area" to homes on the edges in areas that have never experience damage just to jack up rates. Our homes are so high they have never, ever in the history of record keeping been flooded or hit by a tornado or experienced severe wind damage. The companies seem to not have studied geography or gravity. Tornado alleys have not expanded very much in hundreds of years. We have history of the damage from the highest category hurricanes. Our insurance commissioners have always been from the insurance business for the insurance business.

Just let the Feds and State regulate the insurance companies like they’re supposed to or let the companies fold.

It's that pesky "global warming," or "climate change," or "rising oceans" or "melting glaciers"...
No, we are coming out of the last ice age.

One big ponzi scheme... I was personally told by the Mississippi Insurance Department they couldn't do anything about a legitimate roof insurance claim I'd referred to them. I was told my only recourse was to sue the ins. co., that nothing would change until enough people sued the ins. company to get their attention. So forget them regulating the insurance companies. They have no teeth and the insurance companies know that.

to 9:30..... the insurance industry is , by federal statute passed back
in the 1950s, completely exempt for any anti- trust, anti-competitive , and anti price fixing federal laws.'
as far as shaking down people for money ,the insurance industry is the modern day equivalent of the mob. you might ask yourself ''why doesn't the congress or the ms legislature do something about this price gouging''?

well because the insurance industry has the entire mississippi legislature on its payroll as well as the 435 members of congress in washington.

the insurance industry also maintains an ''exchange'' where all companies share information on people they deem to be frequent claim filers.
its called the lexus-nexus insurance exchange. this way the entire industry can black-ball a person from purchasing insurance for an extended period of time. this ''exchange'' operates basically the same ways the casino industry maintains the casino ''black book''.

next time you go down to your agents office to hand over an ungodly amount of money for coverage , ask them about their little ''exchange''. i can assure you they will either:

1. say they dont know what your talking about
2. deny its existence
3. say company policy does not permit us to comment on it.

good luck all you suckers

the only thing that brings down insurance premiums is good old fashioned competition in the free market. nothing else. since the insurance industry does not compete in a free market and is collectively a monopoly, they can rob you.

and if you are to stupid to understand and believe that, you deserve to get ripped-off.

@ 8:34 - I think you are trying to describe what's known as a 'cartel'. It's not a racist word at all. It's simply two or more businesses or businessmen who collude to set and maintain prices, controlling the market.

The same is true of the ever-increasing Indian ownership of gas stations, motels and fast-food joints. Within fifteen years, they will have cornered 90% of those industries. Nothing racist about it. It is what it is and will become what it becomes.

And if liberal democrats manage to stay in office, you will not recognize this country in six to eight years.

"With insurers now designating other zones as high risk, a broader program should be considered."

Crawford, when a broader program needs to be considered, the insurance companies will let us know.

Should the government step in? What determines when the government steps in? Or maybe, who determines when the government steps in?

Insurance companies don’t get together and set rates. Their costs are based on losses and trends based on actuarial figures. They are quite happy to have a 94% loss ratio and then make 4% on investments. What has driven costs are the costs of repairs, roofs for example. 3 years ago my dads roof was $14,000 now it is $18,000 a 28% increase in costs. Most of you don’t believe that it costs $200 a sq. ft to build a house now. Just price the new ones by looking on line. You have to buy a new sink, dishwasher, dryer, furniture when you have that loss not what you paid 20 years ago.

@10:34 AM Good points, and you can request your Lexus-Nexus file here: https://consumer.risk.lexisnexis.com/request

The position of State Insurance Commissioner, Fire Inspector and Matchbook Designer comes with no teeth and no balls.

The current one talks a great game when he's on the other side of Gallo's and Gibert's microphone when he claims to be the protector of the people. But, will somebody show me where he has ever saved them a dime.

to 12:25....you sound like a little junior genius who is just starting out in the insurance industry. your company really should send you back to propaganda school cause you explanations are really lame.

to 10:59...this is a thread about insurance reform, not fat-burgers, flea bag motels and cut rate gasoline.

I do t have a complaint about my rate but when I have a legitimate clai, I want it paid without having to sue the carrier. Your agent especially for a direct writer has little if no influence on a claim. Many companies no longer employ adjusters but use contract adjusters who make more if they keep the loss ratios low.

To 5:15, you have no idea, been in business 45 years thru tornados and hurricanes. On Waveland they paid $23,000 in premium and I paid $6 million plus on autos and equipment. Want to talk about Rolling Fork their claims on city property still open at $10 million. Yea I know about them for one reason I helped them. I suggest that you don’t insure anything and just save the premium and take your chances big boy. Don’t bitch here just save your money and pay cash for everything.

To 5:15, you have no idea, been in business 45 years thru tornados and hurricanes. On Waveland they paid $23,000 in premium and I paid $6 million plus on autos and equipment. Want to talk about Rolling Fork their claims on city property still open at $10 million. Yea I know about them for one reason I helped them. I suggest that you don’t insure anything and just save the premium and take your chances big boy. Don’t bitch here just save your money and pay cash for everything.

to 7:58...wow , you can really spout numbers. are we to feel sorry for you? with the kind of premiums vs claims paid you talk about , how are you still in business? and BTW i been paying cash for longer than you been in business.

Thank goodness we have USAA for home and car. The cost of coverage is almost half what one pays privately here. During Katrina they not only checked my roof but replaced all my refrigerated food loss and were here 24hrs after I contacted them. I had the checks within the week. Our Alabama BCBS coverage was better than Mississippi's until the two merged. Then it became just as awful and some meds not covered since there was a poor performing "generic" with a history of factory quality control issues. Our Insurance Commissioners are indeed awful and so is Alabama's once they lost their consumer friendly Insurance Commissioner.

Most insurance commissioners and some politicians are shills for the insurance industry.

10:34 makes some serious allegations................any denials from the wonderful world of the insurance industry???????????????????
i didn't think so.

9:58 I was a very satisfied customer/clients of USAA for 40 years but things have changed drastically this year. When I turned 65 I expected my life insurance premium to increase, but it went from about $930 per quarter to over $16,000 per quarter (you read that right - $64,000 per year). I shopped around and bought two plans (payoff value about half of what I had with USAA) but the premiums are the same as what I had been paying. Since the kids have graduated and started working I don't feel the need to get the same payout if I die suddenly as I did before. They have called a few times trying to get me to reinstate my old policy but they have no answer when I ask "Why shouldI?"

YMMV.

Quit whining. Kamala Harris told us that Bidenomics is a good thing. Don't you believe her?