Happy Panther

Quote

The reason that the rich were so rich, Vimes reasoned, was because they managed to spend less money. Take boots, for example. ... A really good pair of leather boots cost fifty dollars. But an affordable pair of boots, which were sort of OK for a season or two and then leaked like hell when the cardboard gave out, cost about ten dollars. ... But the thing was that good boots lasted for years and years. A man who could afford fifty dollars had a pair of boots that'd still be keeping his feet dry in ten years' time, while a poor man who could only afford cheap boots would have spent a hundred dollars on boots in the same time and would still have wet feet.

...

Our primetime game is 9:30 a.m.

HHAHAHAHAAAHAAA

Just a fun watch.

They did start Bryce off with an incompletion. But it was a great throw.

ok

This was a solid trade

This is what rebuilding looks like.

We got a 2nd next year

Get a golden lol

why the hell not?

We have gone bareboating in the BVIs twice. Super fun and relaxing from the time you land to the time you leave. 

14 hours ago, Davidson Deac II said:

 

They were turned down.  

 

https://www.wxii12.com/article/north-carolina-insurance-commissioner-rejects-42-increase-home-insurance-rates/46660257#

I know!

37 minutes ago, LinvilleGorge said:

They're just trying to survive, y'all.

https://newsroom.statefarm.com/2022-by-the-numbers/#:~:text=Net income for 2022 was,insurance in force%2C %241.1 trillion.

 

That's the life side from 2022.
For P&C:

Quote

The net worth for State Farm Mutual Automobile Insurance Company ended the year at $131.2 billion compared with $143.2 billion at year-end 2021 and $126.1 billion at year-end 2020. The change during 2022 includes a noteworthy decrease in the value of the P-C companies’ unaffiliated stock portfolio, driven by decreases in the U.S. equities market, along with the P-C group of companies pre-tax operating loss. The State Farm P-C group of companies reported earned premium of $74.3 billion and a combined underwriting loss of $13.2 billion. This result compared to an underwriting loss of $4.7 billion on earned premium of $67.2 billion in 2021, along with $401 million in dividends to State Farm Mutual Automobile Insurance Company policyholders. The 2022 underwriting results reflect significantly higher auto lines incurred claims as well as higher homeowners non-catastrophe incurred claims and another year of catastrophe activity across the country. The 2022 underwriting loss, combined with investment and other income of $4.9 billion, resulted in a P-C pre-tax operating loss of $8.3 billion.

15 hours ago, Davidson Deac II said:

Admittedly I don't read the details, but didn't they originally ask for much higher amounts the last couple of times, and what they got ended up being less than half of what they originally requested?

Yes this is what I was alluding to earlier.

One reason the request is likely so high is because the requests keep being denied. If every 3 years you demonstrate that you need X and only get half of X then it snowballs due to inflation.
And construction cost inflation is 10% per year.

And remember that a rate increase for a policy written on 1/1/2024 might be to pay a claim that settles in 7 years

What the head of the DOI (an elected official) is doing is trying to give insurance companies just enough increase to survive while keeping consumers happy enough to keep buying insurance. The question is where do insurance companies find the extra money if they can't get the rate they want.

The answer is cutting employee expenses for one. Then you get rid of insureds that lose you money. That's why your company drops you if you have a claim that isn't your fault.

The next options are not good. Denying claims or eventually exiting the state although there are significant barriers to exit. 

What all this isn't is just a negotiation tactic. You can't just submit a frivolous rate request. It will get thrown out. The DOI rejects any little thing that isn't mathematically sound.

Filings are public. Attached is a sample:

Mike Causey knows that 42% is likely a real number and he also knows he can't approve it. Tough job and it's all likely unsustainable.

On 2/2/2024 at 3:31 PM, Davidson Deac II said:

Fwiw, this is probably a negotation.

They ask for outrageous amounts, get a 1/3 of what they ask for, which is what they wanted in the first place.

Usually doesn't work like this. If the company submits something that is questionable from a data or math standpoint it gets sent back. Some real nerds work for the DOI.

Meaning 42% is probably really what is justified.

https://www.wral.com/story/nc-insurance-commissioner-rejects-industry-request-for-42-hike-to-home-insurance-rates/21270396/

Quote

NC Insurance Commissioner rejects industry request for 42% hike to home insurance rates

9 minutes ago, Coheed said:

https://x.com/rapsheet/status/1750565340042457348?s=46&t=SVB2mTK6XiGBqyE79kPA5Q

 

im incapable of embedding tweets apparently 

 

You have do do the twitter link not the x link:

Was my first choice.

Matt Rhule

Aww thanks. I will let my two sons decide that.

I get your anger though. For a lot of boomers, especially evangelicals, there is a feeling that the world has passed them by. And you have a bunch of anger that you have trouble processing due to decades of white knuckling mental health instead of treating it.

All of which manifests itself in judging people at Wal Mart and screaming on the internet.

Have at it just try not to find yourself as a cautionary tale on tik-tok.

33 minutes ago, CamWhoaaCam said:

What In The Actual Fug!

Go creep on people at Wal Mart boomer.

5 minutes ago, OHYO said:

So you would be fine with your daughter/grand daughter working in this field? 

If it is consensual sure.

Sex work is fine but we need to get rid of the human trafficking aspect.

Fortunately (or unfortunately) P&C companies are not health insurers making obscene profits while charging $150 for advil.

P&C insurance companies have been losing money the past few years. The article quoted tells you why. They asked for 24.5% and only got 7%. So now they need 42%.

This is on top of the fact that your home and auto insurance already contains a dictionary full of exclusions. And if you make a claim they might drop you.

And keep in mind depending on where you live the company you may not even want your business.

The eventual solution is that home insurance gets handled by the state/subsidized and not private insurers.