Colorado Bankers (CB Life)...

[jdeasy]

They are crap because they are not pre-funded by fees/premium taxes to consumers & they are not backed by any state or federal government. I assure you insurance carriers don't love how the associations are funded by good companies that managed their company conservatively getting a bill to make a poorly run carrier with bad sales practices customers whole.

The guaranty association was the companies idea. They fought against FDIC type oversight.

"We will police ourselves and self fund"

Well, how's that working out for customers?

 

[Newby]

They are crap because they are not pre-funded by fees/premium taxes to consumers & they are not backed by any state or federal government. I assure you insurance carriers don't love how the associations are funded by good companies that managed their company conservatively getting a bill to make a poorly run carrier with bad sales practices customers whole.

The insurance carriers are the ones that came up with it to prevent the state governments from coming up with a real system with actual funding that they didn't want.

 

[Allen Trent]

The insurance carriers are the ones that came up with it to prevent the state governments from coming up with a real system with actual funding that they didn't want.

Probably the same carriers now using private equity off shore reinsurers & same ones aggressively selling 2 tier index annuities 20 years ago