Al Golden wrote: <What we need folks, is one more good year, then we'll see
the insurers casting those sideways glances at each other, wondering who is
going to be the first to jump on what can now be an extraordinarily profitable
book of
business.>

I am an excavation contractor. We build sewers and water mains and streets.
Our insurance was +/- $20K per year for 11 years. Then, we were non-renewed
because most of the carriers got out of that market. The reasons quoted were
EIFS siding and subsidence. We don't build any structures, sided with EIFS or
anything else, and the subsidence claim problems were not even in our state,
but there you have it. Our premium, from the best (practically only) carrier
my agent could find, went to $75K. "Payment in full, today please, to bind
coverage. No payments." No insurance = no contractors license = no choice!!
Last year, it went up to $82K. (Note: no claims involved.) However, this year,
we were able to obtain coverage from an admitted carrier for $38K. So things
are obviously improving!

I think that Al is right. Sanity will prevail, the trick is to stay in
business (or afloat!) until it does. Good luck to us all!!

Regards,
Scott Gordon
Fleming 50 (for sale)
Selene 55 (on order)
Anacortes, WA

I worked in Health Insurance for a number of years as a developer and
one of the reports we had constantly work with was what we called a
Lag report.  That is we took past spending by benefit plan, region,
whatever and used it to forecast future spending and how much money
we need to keep in accruals(for estimated future claims).  This was
not something that was optional, we had to keep a minimum number of
moneys in accrual based off of approved formulas to keep our state
licenses.  How does this apply to Boat insurance??  I'll bet that
they have nearly the same obligations and after the huge hits in
moneys the past few years that the past spending is affecting the net
accruals for the future as well and I'll be the formula's going
forward have been adjusted to hold in reserve even more.  So as Al
wrote that if future years are better then perhaps we may see a
adjustment downward in the rates but maybe we may never see them at
levels that they once were at.

FYI, our most recent policy was 409 per 100k with a 1% deductible up
here in the chesapeake for a12 month policy.  We chose to go with a
Chesapeake Bay only policy this year and then do a addendum if we
happen to go anywhere.  The savings were just too much to pass up,
and we have been up in the air with our cruising plans do to some
family issues(We may do the carolinas in May for a couple of weeks).

John Ford
KK44 Feisty Lady
Annapolis City Marina