what are the reasons for closing an insurance company?
Total Comments: 2
Posted: Wed Feb 04, 2009 11:17 pm Post Subject:
Economy, bankruptsy, not enough business in that area..could be a million resons.
Posted: Thu Feb 05, 2009 09:06 am Post Subject:
Even too much of claim pay-out can also provoke an insurer to close down business in an area. Recently, we have experinced such things to happen in the hurricane affected areas.
Also an insurer may decide to stop writing one particular type of coverage if it causes too much loss, for example- the insurer may decide to stop writing auto policies in a particular region owing to an increase in car theft.
Posted: Wed Feb 04, 2009 11:17 pm Post Subject:
Economy, bankruptsy, not enough business in that area..could be a million resons.
Posted: Thu Feb 05, 2009 09:06 am Post Subject:
Even too much of claim pay-out can also provoke an insurer to close down business in an area. Recently, we have experinced such things to happen in the hurricane affected areas.
Also an insurer may decide to stop writing one particular type of coverage if it causes too much loss, for example- the insurer may decide to stop writing auto policies in a particular region owing to an increase in car theft.
~Jeremy
Add your comment