Cypress insurance companies

Just like the banks in Cypress!!!!!

Talking to a brick wall

Talking to a brick wall

I had the insurance assessor out this week and got all the paperwork finalized I thought. This was after putting in a police report for the the goods that they took five months ago. Then came the phone calls from companies wanting to know what type capacity and the like. I spent a day doing just that going threw what type and pricing using the internet and all I had to do was sit back and get my claim done, not on your Nelly. Just like talking to a brick wall except that the brick wall would have more good things to say. All I can say is PHUCKet.

What did they collect in 2011?

First, it pays more than $80 million dollars in claims each and every day. $80 million. Yes what do they collect each day and how much does the CEO get each day?
2011 was the worst year on record for natural disasters in this country. Insured losses from catastrophes were around $5 billion.(Taken from IAG web site)
http://www.iag.com.au/news/presentations/20120625_AICC.shtml
 In January 2005, IAG raised $550 million of contingent capital
through the issue of Reset Exchangeable Securities
(RES). RES provides the Group access to Tier 1
regulatory capital at any time, should it be required.

They don't have enough to pay out my claim though.

The figures above are interesting
550million contingent capital
Insured losses $5 billion
It appears to leave a $4 billion + deficit
Are they trading insolvent?
Maybe one of there employees could drop me a comment and clarify my uneducated reasoning .
As they wont give me back my goods they took months ago or do I have to subsidize this company.
I will be going to the police tomorrow and place on record property stolen by a company working for IAG (I Am Greedy) saying they were going to fix my damaged goods and return them two weeks later.

Last warning

If you haven't got the drift yet then you too can suffer like I have .  The message is do not insure as the policy is only as good as the paper you paid $500 or more for, spend the money on a caravan and you can live in this till you build your own house and it will only cost about $20.000. My gypsy caravan cost less than $2000 so go figure. The house below cost under $20.000 from Bunnings, Your choice!!!

imagine the space you can create

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