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The New Coffee Room

  1. TNCR
  2. General Discussion
  3. Auto insurance has to be a good business right now

Auto insurance has to be a good business right now

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  • G Offline
    G Offline
    George K
    wrote on 11 Apr 2020, 11:36 last edited by
    #12

    In a somewhat related vein.

    Municipalities are seeing revenues fall because of a drop in red-light camera revenue.

    https://www.businessinsider.com.au/coronavirus-disrupting-red-light-camera-company-revenue-2020-4

    As Americans stay home to help slow the spread of the coronavirus, they’re driving fewer miles.

    That’s great news for everyone: Air pollution is falling, crashes are down, and there’s no blood-pressure inducing congestion.

    Well, almost everyone. For the companies that operate drivers’ most-hated devices – red light cameras – it’s causing a headache.

    Redflex, an Australian company that operates “traffic safety programs” in roughly 100 US and Canadian cities, warned that less traffic and suspended construction amid the pandemic will be a stress on its balance sheet.

    “Approximately 15% of group revenue is dependent on volume-based contracts,” the companysaid in a regulatory filingMonday first spotted by The Wall Street Journal, hinting at its business line that includes enforcement cameras. “We anticipate our revenue from these contracts will be impacted broadly in line with the reduction in traffic volumes as well as the duration of the disruption.”

    Shares of Redflex, which trade in Australia, are down 46% since the beginning of the year.

    "Now look here, you Baltic gas passer... " - Mik, 6/14/08

    The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

    1 Reply Last reply
    • M Offline
      M Offline
      mark
      wrote on 11 Apr 2020, 14:27 last edited by
      #13

      Good! Maybe they will go out of business.

      1 Reply Last reply
      • M Offline
        M Offline
        Mik
        wrote on 11 Apr 2020, 14:36 last edited by
        #14

        State Farm is giving us a 25% refund on our three auto policies.

        “I am fond of pigs. Dogs look up to us. Cats look down on us. Pigs treat us as equals.” ~Winston S. Churchill

        1 Reply Last reply
        • L Offline
          L Offline
          LuFins Dad
          wrote on 11 Apr 2020, 14:41 last edited by
          #15

          I haven’t seen anything from State Farm yet.

          The Brad

          1 Reply Last reply
          • G Offline
            G Offline
            George K
            wrote on 28 Apr 2020, 14:18 last edited by
            #16

            Got some cash in my checking account from Allstate last night.

            "Now look here, you Baltic gas passer... " - Mik, 6/14/08

            The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

            1 Reply Last reply
            • H Online
              H Online
              Horace
              wrote on 28 Apr 2020, 14:35 last edited by
              #17

              I'm totally pillaging my health insurance this year. I hit my deductible so now it's game on. Blue cross blue shield can suck on that MRI bill.

              Education is extremely important.

              1 Reply Last reply
              • I Offline
                I Offline
                Ivorythumper
                wrote on 28 Apr 2020, 14:46 last edited by
                #18

                I'd guess the life insurance companies are going to be hurting...

                L 1 Reply Last reply 28 Apr 2020, 15:24
                • I Ivorythumper
                  28 Apr 2020, 14:46

                  I'd guess the life insurance companies are going to be hurting...

                  L Offline
                  L Offline
                  LuFins Dad
                  wrote on 28 Apr 2020, 15:24 last edited by
                  #19

                  @Ivorythumper Why so? There are fewer accidental deaths and crime related deaths right now, which disproportionately effects the young, which normally mean larger payouts and ahead of schedule. At the same time while there is an increase of the number of deaths, I am finding it difficult to find how many people died last week vs. how many died the same week last year... But I’m sure that the COVID-19 deaths aren’t completely on top of the normal death toll.

                  In addition, as already touched on, this is disproportionately affecting older people, many of whom carry only modest policies or no policy and in many cases, it’s only moving the payoff up by several months. We’ve all seen the story where some doctor estimated that 90% of his patients that died of this crap would have died anyway over the next year. So instead of August, it’s April.

                  Finally, how many people just increased or opened policies? My bet is far more than what is typical.

                  The Brad

                  I 1 Reply Last reply 28 Apr 2020, 17:37
                  • H Online
                    H Online
                    Horace
                    wrote on 28 Apr 2020, 15:28 last edited by
                    #20

                    I wonder if the cost of life insurance has spiked because of this.

                    Education is extremely important.

                    1 Reply Last reply
                    • H Online
                      H Online
                      Horace
                      wrote on 28 Apr 2020, 15:34 last edited by Horace
                      #21

                      Education is extremely important.

                      1 Reply Last reply
                      • jon-nycJ Online
                        jon-nycJ Online
                        jon-nyc
                        wrote on 28 Apr 2020, 17:03 last edited by
                        #22

                        Death toll 60% higher than thought based on excess deaths? Wow.

                        Only non-witches get due process.

                        • Cotton Mather, Salem Massachusetts, 1692
                        L 2 Replies Last reply 28 Apr 2020, 18:46
                        • Doctor PhibesD Online
                          Doctor PhibesD Online
                          Doctor Phibes
                          wrote on 28 Apr 2020, 17:20 last edited by
                          #23

                          I'm waiting to see what Fox News says about these figures before dismissing them out of hand.

                          I was only joking

                          G 1 Reply Last reply 28 Apr 2020, 17:22
                          • Doctor PhibesD Doctor Phibes
                            28 Apr 2020, 17:20

                            I'm waiting to see what Fox News says about these figures before dismissing them out of hand.

                            G Offline
                            G Offline
                            George K
                            wrote on 28 Apr 2020, 17:22 last edited by
                            #24

                            @Doctor-Phibes said in Auto insurance has to be a good business right now:

                            I'm waiting to see what Fox News says about these figures before dismissing them out of hand.

                            Perhaps they can get some advice from Mayor De Blasio as to what to say?

                            "Now look here, you Baltic gas passer... " - Mik, 6/14/08

                            The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

                            Doctor PhibesD 1 Reply Last reply 28 Apr 2020, 17:24
                            • H Online
                              H Online
                              Horace
                              wrote on 28 Apr 2020, 17:24 last edited by
                              #25

                              The only people who ever talk about or admit to following MSM sources are people hate-watching or hate-listening.

                              Education is extremely important.

                              1 Reply Last reply
                              • G George K
                                28 Apr 2020, 17:22

                                @Doctor-Phibes said in Auto insurance has to be a good business right now:

                                I'm waiting to see what Fox News says about these figures before dismissing them out of hand.

                                Perhaps they can get some advice from Mayor De Blasio as to what to say?

                                Doctor PhibesD Online
                                Doctor PhibesD Online
                                Doctor Phibes
                                wrote on 28 Apr 2020, 17:24 last edited by Doctor Phibes
                                #26

                                @George-K said in Auto insurance has to be a good business right now:

                                @Doctor-Phibes said in Auto insurance has to be a good business right now:

                                I'm waiting to see what Fox News says about these figures before dismissing them out of hand.

                                Perhaps they can get some advice from Mayor De Blasio as to what to say?

                                I doubt they'd feel the need to stoop to interviewing Democrats with so many Republicans available to bolster their bullshit.

                                You chaps all sound the same to me, of course.

                                I was only joking

                                1 Reply Last reply
                                • L LuFins Dad
                                  28 Apr 2020, 15:24

                                  @Ivorythumper Why so? There are fewer accidental deaths and crime related deaths right now, which disproportionately effects the young, which normally mean larger payouts and ahead of schedule. At the same time while there is an increase of the number of deaths, I am finding it difficult to find how many people died last week vs. how many died the same week last year... But I’m sure that the COVID-19 deaths aren’t completely on top of the normal death toll.

                                  In addition, as already touched on, this is disproportionately affecting older people, many of whom carry only modest policies or no policy and in many cases, it’s only moving the payoff up by several months. We’ve all seen the story where some doctor estimated that 90% of his patients that died of this crap would have died anyway over the next year. So instead of August, it’s April.

                                  Finally, how many people just increased or opened policies? My bet is far more than what is typical.

                                  I Offline
                                  I Offline
                                  Ivorythumper
                                  wrote on 28 Apr 2020, 17:37 last edited by
                                  #27

                                  @LuFins-Dad You might well be right about the life insurance losses.

                                  1 Reply Last reply
                                  • Doctor PhibesD Online
                                    Doctor PhibesD Online
                                    Doctor Phibes
                                    wrote on 28 Apr 2020, 17:55 last edited by Doctor Phibes
                                    #28

                                    Edit - never mind...

                                    I was only joking

                                    1 Reply Last reply
                                    • jon-nycJ jon-nyc
                                      28 Apr 2020, 17:03

                                      Death toll 60% higher than thought based on excess deaths? Wow.

                                      L Offline
                                      L Offline
                                      LuFins Dad
                                      wrote on 28 Apr 2020, 18:46 last edited by
                                      #29

                                      @jon-nyc said in Auto insurance has to be a good business right now:

                                      Death toll 60% higher than thought based on excess deaths? Wow.

                                      Where are you seeing that? Is it in the thread of replies?

                                      The Brad

                                      1 Reply Last reply
                                      • jon-nycJ Online
                                        jon-nycJ Online
                                        jon-nyc
                                        wrote on 28 Apr 2020, 18:47 last edited by
                                        #30

                                        The article he linked.

                                        Only non-witches get due process.

                                        • Cotton Mather, Salem Massachusetts, 1692
                                        1 Reply Last reply
                                        • jon-nycJ Online
                                          jon-nycJ Online
                                          jon-nyc
                                          wrote on 28 Apr 2020, 18:47 last edited by
                                          #31

                                          Written by tweet author

                                          Only non-witches get due process.

                                          • Cotton Mather, Salem Massachusetts, 1692
                                          1 Reply Last reply
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