The Robert Plan

So we are looking into expanding our New York market share by bringing on a company, The Robert Plan, to write and handle high risk business in New York and New Jersey. This idea was brought to us by our VP of Product Management, who seems to have a shitload of very bad ideas. This is the type of guy that gives insurance a bad name. He is always trying to push some bad claims handling practices on us to cut cost, and commonly asks questions like "Why do we pay claims for old people? If we delay it for a year, we have a better chance that they might die, then we don't have to pay." We all just sit there amazed. Rumor has it that he has run two smaller companies into the ground. The guy is like Dave Wandstadt of Insurance VPs. For some reason companies continue to give this guy a chance, despite no track record of success.

So to appease him, we decided to meet with The Robert Plan in December to see what they have to offer. Well, I open up the Journal today and see that AIG is having major problems with the Robert Plan, and has filed suit against them on some major issues ranging from refusing to open their books for an audit to skimming funds for personal perks. Its gotten so bad that the New Jersey Department of Insurance has taken over their New Jersey operation and has refused to allow them to write new business. Why am I not surprised. I'm so giddy since we can tell this VP that once again his idea was shit and we have cancelled the meeting.