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Re: Rating Agencies Track Records

Posted by Steve Eads, CLU on June 14, 2001 at 20:17:51:

In Reply to: Rating Agencies Track Records posted by Scott A. Olson, CLTC on June 02, 2001 at 13:06:58:

: Funny you should say that there's nothing special about Weiss' Ratings. Regarding Executive Life of California, Weiss downgraded them to "vulnerable" more than a year before they were taken over by regulators. AM Best downgraded Executive Life 6 days before they were taken over.

: That same story is repeated regarding Mutual Benefit, Kentucky Central, etc... Weiss has generally been way ahead of the pack.

: There was a very thorough study done by the General Accounting Office comparing the various ratings agencies.

: If you'd like to read that study, you can check it out at www. weissratings.com

: I highly recommend it.

: sao

After 23 years in this business, having personally lived through the Kentucky Central, Mut. Ben, and Ex-Life, I seriously doubt I'll need the Weiss PR message. However, isn't it interesting that you send us to the Weiss site to get testimonials about Weiss? You read about it...I was there...living it!!! Weiss was a nobody in that era. His service became recognized then as the "armchair quarterback" of the insurance industry.

He most readily captured the attention of the "bleeding-hearts" of the time and rode that horse into business. Great politician...he knew what the people wanted to hear...Controversy!!!...and laid it on thick and often. His "bash the competition until you get noticed" way of doing business certainly worked for him. Kudo's to brother Weiss.

And that's the way it is for many people, even in discussion boards...blow their own horn till someone thinks you're for real. It's so easy, too, especially when one has days to research a question before replying. Oh, the glory of it all. Sounds just like they actually know the answer from personal experience? An honest to goodness real "expert." More like "fox in the henhouse."

Happy prospecting.

Your buddy, Steve Eads, CLU

Follow Ups:

Weiss Research vs. AM Best Scott A. Olson, CLTC 13:26:24 06/19/01 (0)

Re: Rating Agencies Track Records : : Funny you should say that there's nothing special about Weiss' Ratings. Regarding Executive Life of California, Weiss downgraded them to "vulnerable" more than a year before they were taken over by regulators. AM Best downgraded Executive Life 6 days before they were taken over. : : That same story is repeated regarding Mutual Benefit, Kentucky Central, etc... Weiss has generally been way ahead of the pack. : : There was a very thorough study done by the General Accounting Office comparing the various ratings agencies. : : If you'd like to read that study, you can check it out at www. weissratings.com : : I highly recommend it. : : sao : After 23 years in this business, having personally lived through the Kentucky Central, Mut. Ben, and Ex-Life, I seriously doubt I'll need the Weiss PR message. However, isn't it interesting that you send us to the Weiss site to get testimonials about Weiss? You read about it...I was there...living it!!! Weiss was a nobody in that era. His service became recognized then as the "armchair quarterback" of the insurance industry. : He most readily captured the attention of the "bleeding-hearts" of the time and rode that horse into business. Great politician...he knew what the people wanted to hear...Controversy!!!...and laid it on thick and often. His "bash the competition until you get noticed" way of doing business certainly worked for him. Kudo's to brother Weiss. : And that's the way it is for many people, even in discussion boards...blow their own horn till someone thinks you're for real. It's so easy, too, especially when one has days to research a question before replying. Oh, the glory of it all. Sounds just like they actually know the answer from personal experience? An honest to goodness real "expert." More like "fox in the henhouse." : Happy prospecting. : Your buddy, Steve Eads, CLU

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