USAA employees awarded a record 18.8 percent bonus (insurance, how much)

[tfrog]

USAA employees awarded a record 18.8 percent bonus (http://www.mysanantonio.com/business/USAA_employees_awarded_a_record_188_percent_bonus. html - broken link)

[jwebtx]

Not bad, not great for the industry.

[sapphire]

Up from last year's 13.5% and this terrific thread is a reminder:

//www.city-data.com/forum/san-a...3-5-bonus.html

[doss1]

Anytime you're involved with the federal sector (ie military) you're going to do good during a down year.

[RonLumbergh]

While I am quite happy for the employees of USAA, I must voice a bit of displeasure with the overall direction of the company. Simply stated, the insurance rates of USAA are less competitive than they were a decade ago. An 18.8% bonus is surprising, especially as I am on the verge of dropping USAA as a property insurer on account of uncompetitive rates. It would appear that the eunuchs are clearly running the palace out on I-10.

Personally, I think USAA is trying to grow "too big" and has become a different company in a quest for market expansion. Once upon a time, it existed for the sole purpose of providing insurance and financial services to military officers and their families - and was simply peerless in this effect. As we the USAA insured "own" the company, there simply is no need to pacify institutional investors or shareholders with policies that boost stock price, as there is no stock. Even a decade ago, USAA was a bit of a "botique" company that advertised membership being an earned priveldge, and was practically a fifth-column of officer benefits. In the rush to bring this fruit to the masses, I think the core is slowly decaying. I don't like how thin the risk pool is spread by offering membership to all manner of federal and military employees. I don't like their increasingly less competitive insurance rates. I don't like how they coast on the brand of 1995 while eschewing those things that made them special in the first place.

USAA's friendly banking system and customer service (as well as willingness to legally anhillate the other party in an auto collision) was a great bonus to a clientele that was dispersed all over the world. I can't help but think that this service will suffer as USAA's banking is now open to the general public, slowly morphing into SACU. USAA was a company where nearly any problem could be resolved with a frank phone call, and you were treated like an officer. When combined with unbeatable insurance rates, this was a world class company. Now it is just a very good company.

An 18.8% bonus for USAA is terrific for the city, and an example of how much better eating from the hand of private enterprise is compared to siphoning "stimulus" money. The employees of USAA deserve every cent for their professionalism and dedication. I simply hope that USAA will be content with its slice of the pie and work on getting insurance premiums back down.

[Verio]

Originally Posted by RonLumbergh

While I am quite happy for the employees of USAA, I must voice a bit of displeasure with the overall direction of the company. Simply stated, the insurance rates of USAA are less competitive than they were a decade ago. An 18.8% bonus is surprising, especially as I am on the verge of dropping USAA as a property insurer on account of uncompetitive rates. It would appear that the eunuchs are clearly running the palace out on I-10.

Personally, I think USAA is trying to grow "too big" and has become a different company in a quest for market expansion. Once upon a time, it existed for the sole purpose of providing insurance and financial services to military officers and their families - and was simply peerless in this effect. As we the USAA insured "own" the company, there simply is no need to pacify institutional investors or shareholders with policies that boost stock price, as there is no stock. Even a decade ago, USAA was a bit of a "botique" company that advertised membership being an earned priveldge, and was practically a fifth-column of officer benefits. In the rush to bring this fruit to the masses, I think the core is slowly decaying. I don't like how thin the risk pool is spread by offering membership to all manner of federal and military employees. I don't like their increasingly less competitive insurance rates. I don't like how they coast on the brand of 1995 while eschewing those things that made them special in the first place.

USAA's friendly banking system and customer service (as well as willingness to legally anhillate the other party in an auto collision) was a great bonus to a clientele that was dispersed all over the world. I can't help but think that this service will suffer as USAA's banking is now open to the general public, slowly morphing into SACU. USAA was a company where nearly any problem could be resolved with a frank phone call, and you were treated like an officer. When combined with unbeatable insurance rates, this was a world class company. Now it is just a very good company.

An 18.8% bonus for USAA is terrific for the city, and an example of how much better eating from the hand of private enterprise is compared to siphoning "stimulus" money. The employees of USAA deserve every cent for their professionalism and dedication. I simply hope that USAA will be content with its slice of the pie and work on getting insurance premiums back down.

I'm not sure what has happened to have your rates change so much, but in the last 5 years, my rates have drastically dropped. I've never had a single issue with USAA in any case I've dealt with them.

Additionally, I don't think the risk pool gets any larger than it was previously, offering services to only Officers. Trust me, they're a risk pool themselves.

I'll be sticking with USAA myself.

[RonLumbergh]

Originally Posted by Verio

I'm not sure what has happened to have your rates change so much, but in the last 5 years, my rates have drastically dropped. I've never had a single issue with USAA in any case I've dealt with them.

Additionally, I don't think the risk pool gets any larger than it was previously, offering services to only Officers. Trust me, they're a risk pool themselves.

I'll be sticking with USAA myself.

Fair enough. I've been a client for over 20 years, and my rates have gone up rather inexplicably over the last decade, even as my income far exceeds what I made in uniform. I guess in the end, money talks.........

[♪♫♪♪♫♫♪♥]

Same here, I'm not leaving USAA either.

[Mom2Feebs]

Originally Posted by RonLumbergh

While I am quite happy for the employees of USAA, I must voice a bit of displeasure with the overall direction of the company. Simply stated, the insurance rates of USAA are less competitive than they were a decade ago. An 18.8% bonus is surprising, especially as I am on the verge of dropping USAA as a property insurer on account of uncompetitive rates. It would appear that the eunuchs are clearly running the palace out on I-10.

Personally, I think USAA is trying to grow "too big" and has become a different company in a quest for market expansion. Once upon a time, it existed for the sole purpose of providing insurance and financial services to military officers and their families - and was simply peerless in this effect. As we the USAA insured "own" the company, there simply is no need to pacify institutional investors or shareholders with policies that boost stock price, as there is no stock. Even a decade ago, USAA was a bit of a "botique" company that advertised membership being an earned priveldge, and was practically a fifth-column of officer benefits. In the rush to bring this fruit to the masses, I think the core is slowly decaying. I don't like how thin the risk pool is spread by offering membership to all manner of federal and military employees. I don't like their increasingly less competitive insurance rates. I don't like how they coast on the brand of 1995 while eschewing those things that made them special in the first place.

USAA's friendly banking system and customer service (as well as willingness to legally anhillate the other party in an auto collision) was a great bonus to a clientele that was dispersed all over the world. I can't help but think that this service will suffer as USAA's banking is now open to the general public, slowly morphing into SACU. USAA was a company where nearly any problem could be resolved with a frank phone call, and you were treated like an officer. When combined with unbeatable insurance rates, this was a world class company. Now it is just a very good company.

An 18.8% bonus for USAA is terrific for the city, and an example of how much better eating from the hand of private enterprise is compared to siphoning "stimulus" money. The employees of USAA deserve every cent for their professionalism and dedication. I simply hope that USAA will be content with its slice of the pie and work on getting insurance premiums back down.

TOTALLY agree with every word you said. We've had USAA for our insurance for about 20 years, and when we bought our house here we were surprised at our homeowner insurance rate. We haven't shopped around-- but if, in another year, we just feel like it's not worth it, we'll probably look elsewhere. Not sure what reasons there are to stay with USAA.

[wellguy]

I cannot complain as I given a hefty pay raise this year although I work for a City owned utility. Bonuses are good but you are taxed at what? 35-38%

I sued them 4-5 years ago due to an auto accident (one of their clients rear ended me) which resulted in a cervical fusion. I would not wish that upon anyone.

The USAA Lawyer's (A Private Firm in my case) started out at $5,000.00, Held tight at $50,000.00, but we settled out of court for $150,000.00 plus. I will say that the few USAA Employee's that I dealt with and their Lawyer's were Complete Asses. The negligence on their client's part turned me into an Complete Ass (due to excessive pain and depression)
which resulted in a 6 month seperation from my Wife after 15 years of Marriage at the time. But that made no difference to USAA or their Lawyer's. I will admit I still hold a grudge and the money didn't not ease the pain.