Club Mulgoa

Monday, October 29, 2012

Insurers

I no longer invest in insurance companies.  Not that it is not a profitable business but there is too much sentiment and political interference.  During a disaster or a pending one like Sandy blowing on the East Coast of the USA, insurers suffer a tumble.  But when they make a huge profit during a "good" quiet year, they are perceived to have exploited customers, either by overcharging the premiums or underpaying their claims.  People fail to understand that that is how insurers function...   Worse when politicians are screaming away at insurers to get votes, making them out to look like saints.  MPs as saint?   Name one!

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