Conservative / Community / Traditional Bankers = Don't you feel like this is what the FDIC is saying ?!!?!?
Dear Valued Senior Citizen Customer who drives 3,500 miles per year
As always we appreciate the opportunity to insure you vehicle.
However, as you are aware, we also provide insurance for all UPS and Fedex vehicles, and for various companies ranging from Nascar Drivers to Pizza Delivery drivers.
Due to the fact that so many Nascar Drivers have wrecks and the fact that the unprecedented snow storms across the country have caused so many UPS and Fedex drivers to have wrecks – our insurance fund has been depleted to record low levels, and may reach zero during 2009.
We realize that times are tough and your income has likely been decreased by the current snow storms across the country, but we must all understand the “Systemic Importance”
UPS, Fedex, Nascar, and other such companies, and asking them to pay more in order to rebuild our insurance fund during these tough times is just not a viable option. (Little people like you are not "Improtant", except to rebuild our fund)
We have weighed the options and determined that the only source of funding available to bring our insurance fund back up to required levels is to assess a special charge on all of the safe drives who are insured with us.
We will be raising your insurance rates somewhere in the range of 50% and will also be charging you a special one time assessment in September; this one time assessment will be based on the size of your insured vehicle and is estimated to be in the range of 25 – 50% of your anticipated net income for 2009.
Of course we retain the option of coming back to you later in the year with another special assessment, but hopefully it will be half-price of this September assessment.