{ "media_type": "text", "post_content": "OK gonna maybe open a can of worms here but I have to ask: it seems the sudden inflation we're seeing has taken the ins. ind. by surprise. The cost/expense projections done X yrs. ago for this and poss'y subsequent yrs. have been thrown off. Costs to repair/replace cars have shot up unexpectedly. Same for houses. Med costs have all gone up. Ins. cos. have relatively thin profit margins to begin with. There's talk of cost-cutting measures-- incl. layoffs. How realistic are these concerns?", "post_id": "62816a43175bd70033e9966d", "reply_count": 9, "vote_count": 7, "bowl_id": "56fd40e29238700e00b5ee4a", "bowl_name": "Insurance", "feed_type": "crowd" }
null

OK gonna maybe open a can of worms here but I have to ask: it seems the sudden inflation we're seeing has taken the ins. ind. by surprise. The cost/expense projections done X yrs. ago for this and poss'y subsequent yrs. have been thrown off. Costs to repair/replace cars have shot up unexpectedly. Same for houses. Med costs have all gone up. Ins. cos. have relatively thin profit margins to begin with. There's talk of cost-cutting measures-- incl. layoffs. How realistic are these concerns?

like
Posting as :
works at
You are currently posting as works at

I’ve wondered about this but. The duty to handle claims is always going to exist. The things that can’t be automated, like claims are hopefully stable because if an insurance carrier can’t comply with statute and regulation, they can’t continue doing business. Hoping claims is as stable in recession as in pandemic.

like

They are realistic, though I don't think we'll see significant numbers. It's still an employees market with companies across the board having difficulty filling roles. They'll be some balancing ala "the Great Reshuffle". Roles won't get filled. People may be moved to other areas. There may be buyouts of senior staff near retirement age. Layoffs or outsourcing may occur one place while the company beefs up another (eg IT).

All in all, I think we're good.

like

I’m more in employee benefits, but I have the concern about my own home. Worried that my policy doesn’t cover the real replacement cost in case of something catastrophic. That’s not something I want to be underinsured for.

like

For sure. I just think inflation in construction costs has been outpacing the assumed increase in value built into my policy.

Well we have already seen them at or work. Look at the 206 layoff from the other week.

True, that. I'm thinking along the lines of large-scale layoffs, 1000s of ppl at a time.

Premium increases were up substantially during renewals last year even before inflation. Especially on certain lines, carriers were limiting risk and charging more for it. Several insurers were needed to afford the same coverage from the prior policy periods.

My premiums went up 10% with no losses. Thankfully so did my income by changing employers.

Related Posts

I don't get it. EY would have new hires starting next month or so in the same office that experienced staffs are getting laid off within the same service line. What's the catch here?

like

Additional Posts

Unsure if these are bots or actually the school teams but this is a genius campaign I’ve been seeing all over tinder for driving awareness of these vb teams

Post Photo
likefunny

Recommendations for sherpa/shearling-type bomber/zip-ups?

like

My principal has told all teachers in my district that we must add him to our Google Classrooms as a co-teacher. Many teachers feel that this is inappropriate and implies that he doesn’t trust us. How would you all react to this?

likesmartfunny

I think we need to start pushing Biden to pack the court to save gay marriage. Obergefell has no legal standing if there is no implicit right to privacy in the 14th amendment. It’s only a matter of time.

like

Questions for the vegans out there- how do you get enough protein on a plant based diet? I’m Indian so I naturally eat a lot of lentils, chickpeas and vegetarian food. But I find that (cont)

like

How many days prior to joining date, does Brillio ship the laptop etc. ?

For the single fishes, how much is your rent/mortgage and how much do you make?

like

Wanting to transition more into cyber analytics. Any tips on tools/skills/languages/etc to learn? I'll know tableau and I've been told to learn Python, but that's all I've got to go on.

like

I just put in my resignation & teared up telling my client (he’s been my cheerleader for growing my career since day 1). Shout out to all of the men who empower women in their careers, they’re gems.

likeuplifting

I have my sisters wedding and I need shapewear!

Would love a tummy control / shorts combo (so no thigh rubbing lol). I got the high wasted Skims but they roll down and nearly suffocate me.

Suggestions pls!!!! Specific styles / brand appreciated!

like

Hi Fishes,
Qburst is hiring across roles now. Pay is competent and wlb is amazing. If you fit any of these roles please feel free to DM me for a referral. Happy to help in these trying times.

Post Photo
like

Any tips for writers block while writing essays?

like

How do you handle teacher “hate” from the rest of the world? (Meaning: Not from students.) Passive aggressive comments against the profession. What have you experienced and how have you handled it?

like

What month is renting the cheapest in DC area?

like

Question peeps: after speaking with the HM, if I don't hear from the recruiting coordinator the same day with feedback on next steps, should I call it a loss?

like

Got an offer from a tech company, my friend says negotiate with the HM. Should I negotiate with the HM or the recruiter? Thank you!

like

Best book recommendations for inspiration and self improvement?

like

Suggestions on making professional Black female friends in a large city (like LA). I have friends from all walks of life, but I seem to have a shortage of professional Black female friends :(

likehelpful

Hi Fishes, are there good & sufficient projects for Mulesoft skillset. Can some shed some light & help out please.
Designation: Associate Principal Engineer

like

Oh Friday evening, how I've been waiting for you all week.

Post Photo
like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
Download Fishbowl to see what others are saying
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the Fishbowl app

For account settings, visit Fishbowl on Desktop Browser or

General

Legal