Replies to post #603 on Golden Jackass Tobacco Shop

[JimWillieCB]

yes Tim, many insurance companies have been badly wounded
even ins companies in Europe, where the floods occurred
ins wealth is stored in stocks & bonds, mostly stocks
ouch

a friend used to work for a major world re-insurance firm
he said WTC attack took their industry right to the brink
he said another similar attack with losses would take the industry over the edge
he said the USA now has only 4 major ins firms for REins

this summer the grain belt hit ins firms with more losses from the farmer drought, oy

interestingly, it is not just the $20B-odd WTC-related losses that are plaguing the ins industry, but also accident claims, AND ASBESTOS CLAIMS
did you notice the $22 BILLION smoker lawsuit?
this is the sort of loony civil jury award that is severely hampering the ins industry
I hate smoking, I hate tobacco firms, but this is looney

I wonder if brokerage houses own insurance policies against major lawsuits by shholder clients ???
/ jim