AIG has today acknowledged that the company over a period of years intentionally misled investors, regulators and policyholders about the company's financial condition and operations.
Quotes about policyholders (10 Quotes)
We have been fortunate in that the majority of our policyholders have not shifted into higher risk operations.
Its research shows that the typical age for drivers enjoying the benefits of running a car is ever increasing. Well over 40 per cent of Age Concern motor insurance policyholders are in the 75 plus bracket over a quarter of whom are over the age of 80. Older people value the freedom and independence offered by the car and we fully embrace this by providing motor insurance with no upper age limit, ... Having the right kind of insurance affordable, flexible and catering specifically for the needs of the older driver is crucial to enabling older people to be on the roads.
Given the massive catastrophe losses absorbed by insurers in nine-months 2005, the increase in income and surplus during the first three quarters of the year is a testament to the underlying financial health of the industry. But we can't afford to lose sight of the fact that, as bad as Hurricanes Katrina and Rita were, insurers and the public remain exposed to far more devastating catastrophes that could strain insurers' ability to fulfill their obligations to policyholders. According to PCS, Hurricane Katrina caused a record 38.1 billion in direct insured losses to property. But catastrophe modeling by AIR Worldwide shows we face the prospect of hurricanes causing more than 100 billion in damage. Even as we applaud insurers' success coping with the catastrophes of 2005, we must do more to assure that insurers and the people they serve will survive when even more devastating storms strike.
Homeowners and business owners across the country agreed to pay premiums, communities agreed to adopt building codes to mitigate flood dangers, and the Federal Government agreed to provide insurance coverage to policyholders after a disaster.
We remain of the view that the PO inquiry is policyholders' best hope for government compensation, and whatever the outcome, the inquiry should bring independence and some finality to the question of regulatory maladministration.
Policyholders can rest assured knowing that the insurance industry in the United States is a 1 trillion industry with assets of more than 3 trillion, ... Therefore, preliminary loss estimates of 20 billion represent only 2 percent of the premiums written in 2000.
It's part of our effort to manage our exposure in the state of Florida. We are trying to take steps we feel will ensure our long-term stability and keep our promise to current Nationwide policyholders across the nation.
Improved driver experience, which has resulted in a decrease in accidents and fewer losses for our company, is the main reason for the rate decrease. We're glad we can provide our policyholders with more savings, and we hope to attract new customers with our lower rates.
Insurers use several factors to develop rates that are based on a driver's risk of having a loss. This way one group of policyholders does not subsidize another group.