allstate insurance company information
As hurricane season gets under way, thousands of homeowners have begun receiving unwanted letters from Allstate Insurance. The letter begins with: "We are writing you with what we know is unfortunate news about your Allstate insurance. The letter then went on to say that his house would fall on the deck "because it is in the path of the future hurricanes.
You may well think that this reader lives in New Orleans or Florida, but this reader would be wrong to live in New York. The full impact of Hurricane Katrina is now being felt in many hundreds of miles away from where the land was first done last year. Many insurers are struggling to reduce their exposure to future hurricanes that could strike their shareholders profit.
Allstate Nations 2 number insurer is canceling more 30,000 homeowners insurance in and around the coastal counties of New York. The reason for this action that they say is the need for protection from future storms. They (Allstate), of course, are not the only major insurance company to do this in Nationwide Mutual Insurance Co., also is not writing new policies on the Andrew Most insurers reduced their presence in Florida. This forced thousands of local residents to use the expensive state-run insurance pool.
These companies are doing everything possible to indicate that a single event like Hurricane Katrina could wipe out years of savings. This stress that might well make whole company with all its policyholders across the country at risk. There is no reasoning behind this policy is despite that the Northeast has not had a direct hit from a hurricane in decades, the replacement value of homes high in their portfolio would make them vulnerable.
The biggest irony for me after last year's storm is that insurance companies had just reported record profits 43 billion U.S. dollars by 2005. The Insurance Information Institute, a trade group reported that there was a 11.7 percent increase over the previous year and was, in fact, the highest net income since 1991.
Why is it that we, as asked homeowners to remain faithful to these "care companies, our friends, with good hands. We are asked to pay increasing amounts of money, of course, every year, many of us have never made any complaint, but as soon as "may", could "be a problem when we need them most, there would need to cancel our policies.
What they are doing to us is "legalized Assault" which could well write policies under the title No CLAIMS POLICY. After all, shareholders do not want to lose sleep over the possibility of paying claims could hit profits.
Have an opinion or a question you'd like me to answer, then write me! http://www.CarlHampton.com
About the Author:
Your” Money Matters By Carl Hampton Author of “From Credit Despair To Credit Millionaire”
http://www.CarlHampton.com http://fcdtcm.com
Article Source: ArticlesBase.com – Insurance Companies “Our Fair Weather Friends”
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