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

 

[pcast79]

Has anyone else still not received a letter this month. I have not, my state guarantee never answers the phone either!

 

[ccwpc]

Has anyone else still not received a letter this month. I have not, my state guarantee never answers the phone either!

Did you call CBL? 1 833 658 2841

 

[Dan T]

Haven't got it

 

[ProActive]

Us either, haven't received anything.

 

[Allen Trent]

Did you call CBL? 1 833 658 2841

I bet most guaranty associations have few, if any, full time staff members as there isnt a lot of carriers in insolvency. I wonder if alot of them are staffed by 3rd party vendors. Plus, I bet now is time of Christmas vacations, so may be tough to contact anyone.

 

[ccwpc]

I bet most guaranty associations have few, if any, full time staff members as there isnt a lot of carriers in insolvency. I wonder if alot of them are staffed by 3rd party vendors. Plus, I bet now is time of Christmas vacations, so may be tough to contact anyone.

The letters were sent from CBL, not the guaranty association. If you call the number and go through the menu, someone will answer at CBL.