Chainsaw's Blog

The 04 and 05 hurricane seasons are defenately history making events. Sadly there were several lives lost, and even more people effected in more ways than one. Loss of homes, property and jobs just to name a few, and new hardships like canceled homeowners insurance. Policies being rewritten and large increases in protection costs.
What's that all about? Most of all WHAT HAPPENED TO ALL THE MONEY PAID INTO INSUANCE COMPANYS BEFORE THE LAST 2 SEASONS? I mean come on now they were making money hand over fist, can someone tell me where all that money went?
I thought you paid your premium, and that money paid would go into some type of savings account( for instance) yhen when you did experience some type of damage, what you paid was to help cover it. Where does the rest of it go? I know salaies have to be paid and of course all the other bells and buzzers. But what happened to the rest of the money? I feel before any of the insurance companies are allowed to pull out of the state, increase premiums or cancell them, they should be required to open their books for auditing and review explainig their actions.
And to add insult to injury, there are insurance groups talking about doing the same thing in California before the big earthquake strikes. So come on you guys " Show us the money"!!!