Are there any more layoffs expected in underwriting this week or in the near future?
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The year of the U/W is a facad. Read between the lines. It's for the share holders and to make them happy until the end of the year. U/W as we know will be greatly decreased around the country. Meaning there will be lay offs.
Yes it's good bye commercial insurance. So sad because the service that claims provided for it's customers was and is outstanding. This is going to impact more than just Adjusters and Claims Managers. Senior Management should be more transparent with its employees instead of leaving them in the dark. For those who have some years of service it won't be so bad because they will have a better severance. But for those who don't have a lot of years, they really have to move fast and try to get in with another Insurance Company. All the Companies know if you worked at AIG, you can work anywhere. That still doesn't make it right. I wish and pray that things were different or that a miracle would happen. At this stage I don't think it will ever turn around.
bye bye commercial insurance
Life and Retirement, Reinsurance, Auto, Cyber, Travel, are what AIG is interested in.
Year of Underwriter? We used to have very good underwriters. Then they laid them off or pushed them out and set up the COE's. They were underwriting by "scientific" data instead of experience and understanding of business. If AIG goes down, it will be because of the changes they made in underwriting.
No need for underwriting if we have no business to write. Life & Retirement is where its at!
Yes they aren't done with Underwriting yet.
But..But...I thought this was the "year of underwriter" according to the 43 million dollar man, Duperreault..lol, this tells me he has absolutely no idea what he is doing, just collecting that paycheck.
Yes. Underwriting is part of the rolling layoff.