100 Insurers Message Board

Subject: Re: Re: AFLAC PROBLEMS

Comments:
: : There has been quite a few messages posted to insurance related message boards by victims venting about AFLAC's internal problems. Some of it is accurate and some is simply speculation. : >>>>>Interesting....I have looked at 3 insurance related message boards (deferred.com, 100insurers.com, and 1000agents.com), and there seems to be not one single post in the calendar year 2004 regarding AFLACS internal problems. There are a couple of posts regarding employment opportunities at AFLAC, but NOT ONE SINGLE POST regarding AFLAC's internal problems. Care to explain? : : Here is a qualified and documented explanation as to what has been going on within AFLAC. : >>>>>Can you please cite your sources? You say it is documented...from where? I am sure you did not recieve this information in a dream, did you? Please show some sort of reference so we can take this information as fact (please forgive us for doubting you, but you still have not cited your sourse for the Primerica 20M fine, so we all have doubts about your "information" and credibility) : : Between 1992 and 2003, the expected operating income swelled to $968-million ranking the company number #41 out of the top 50 in performance. Then came the fiasco. : : Most of you have heard of "Parmalat" the giant Italian dairy company going "belly up". : : Well it turns out that AFLAC held $428-million in bonds with Parlamat which equated to about 25% of all of Parlamat's bonds held by US Insurance Company Invetors. : : The bottom line is, AFLAC took a $257-million loss which severely dipped into AFLAC's gains of an estimated $968-million. : >>>>>As a bond holder, AFLAC is a CREDITOR, and first in line to go after any assets Parmalat may have. Why do you assume that the entire bond position is a write off, and that there are not other remedies (perhaps a partial recovery of some principal)???? : : If an insurance company doesn't have in its coffers money to pay claims filed against it's policies, then the claimant simply has to wait until they do. : >>>>>Correct me if I am wrong, but doesnt a companies ability to pay claims come from the separate account? I am not sure how the companies investment choices affect claims paying abilities - is it a direct correlation? I seem to think it is not. : Also, isnt a companies financial strength ratings, and its claims paying ability, best assessed by a professional and unbiased third party rating organization? : ACCORDING to A M BEST: : -It seems that AFLAC has a company value in the category of OVER 2 BILLION (not sure how much more than 2 billion) : -It also seems that the financial rating of the company is A+ or SUPERIOR. This means that AM BEST believes that the company "has a superior ability to meet their ongoing obligations to policyholders" : Care to explain this? : : Need I say more? I hope this posting helps to clear up the mystery surrounding the core of why so many complaints are being posted to these types of message boards venting about the denial and tardiness of the payment of AFLAC claims. : >>>>>Yes, you need to say more. You have not posted any type of source or documentation. It seems that your posts only purpose is to scare AFLAC policy holders. AND, where are all of these posts regarding AFLAS claims? : : Maybe one of these days insurance company "Fast Buck" Investment Counselers will learn that they have a fiduciary duty to the public to invest the public's dollars in a prudent manner and cease being so greedy and restless. : >>>>>Is it possible that the fiduciary responsibility also lies with Parmalat, and how its executives hid info that affected the credit rating of their bonds? Of course you didnt, that would require critical thinking before you post. : : Just look at the large numbers of insurance companies went into receivership over the "Junk Bond" issue some fifteen years ago. It seems to me ALL of the Industry's Insurance Companies would have learned a lesson back then in lieu of continuing to invest money recklessly in the name of "Greed". :-( : >>>>>It seems that you need to learn a lesson about verifying info before you post....and stop lying.

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