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Old 08-26-2017, 07:22 PM
 
64,777 posts, read 66,270,542 times
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Aig's insurance arm never needed bail out money. It was always financially strong. It was aig's other business's that were in trouble
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Old 08-26-2017, 07:29 PM
 
Location: Sector 001
7,161 posts, read 5,964,203 times
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If you don't like it, self insure. Pretty simple.
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Old 08-27-2017, 01:02 AM
 
25,874 posts, read 49,787,562 times
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My grandfather explained insurance to me as a tool to make the unbearable bearable... something I have always remembered.

I too hope to never need or use it.
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Old 08-27-2017, 08:57 AM
 
2,953 posts, read 1,395,524 times
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Quote:
Originally Posted by shanv3 View Post
They also get the tax payer money as bonus aka bailouts. I also cannot believe the "reserve funds" being untouchable. No one knows.
That is a blatant uniformed lie.
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Old 08-27-2017, 08:59 AM
 
64,777 posts, read 66,270,542 times
Reputation: 43156
Quote:
Originally Posted by shanv3 View Post
They also get the tax payer money as bonus aka bailouts. I also cannot believe the "reserve funds" being untouchable. No one knows.
nonsense
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Old 08-27-2017, 01:35 PM
 
5,239 posts, read 2,386,359 times
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Quote:
Originally Posted by 17thAndK View Post
Bayesian statistics are still statistics.
In the context of this thread, what does your post mean?
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Old 08-27-2017, 01:52 PM
 
2,756 posts, read 1,221,555 times
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Quote:
Originally Posted by mathjak107 View Post
Aig's insurance arm never needed bail out money. It was always financially strong. It was aig's other business's that were in trouble
Which "other" businesses?? AIG Motors ??
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Old 08-27-2017, 02:53 PM
 
Location: Montgomery County, PA
13,701 posts, read 8,694,315 times
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Quote:
Originally Posted by Campfires View Post
Tax payer money bail outs for insurance companies? Can you provide a single reliable link to support that statement?
What were the "risk corridors" then?
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Old 08-27-2017, 03:01 PM
 
Location: Montgomery County, PA
13,701 posts, read 8,694,315 times
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Insurance guarantees you never know how much a commodity costs. If you had to write a personal check, an MRI, a 40-year old technology, would not cost $5000. You see "insurance" pays, so who cares. If real people had to write a check, that same MRI would magically drop to $500.
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Old 08-27-2017, 03:59 PM
 
11,904 posts, read 14,386,346 times
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The theory is assigned risk. Imagine a subdivision where the replacement cost averages $250,000. The actuaries figure there is a 1/1000 chance one will burn down in a given year. That means the company must collect $250 from every homeowner to cover this, plus overhead, profit, and some safety margin. Perhaps $300. But of course the company won't pay out on a claim right away, so it will invest that money for that period of time. These days interest rates are low, so it is not a big income source. But back in the early 1980s they were at record highs so some insurers were cutting rates to get the income.
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