Watchtower Insurance Inc?

by Kent 8 Replies latest jw friends

• 

  Kent

  http://www.ins.state.ny.us/cdcha.htm

  The Watchtower is in this list.

  On http://www.ins.state.ny.us/hp97wel.htm it is said:

  The Insurance Department is responsible for supervising and regulating all insurance business in New York State. The Department’s mission is to:

  Ensure the continued sound and prudent conduct of insurers’ financial operations;

  Provide fair, timely and equitable fulfillment of insurer obligations;

  Protect policyholders from financially impaired or insolvent insurers;

  Eliminate fraud, other criminal abuse and unethical conduct in the industry; and

  Foster growth of the insurance industry in the State.

  The Department carries out its supervisory function by issuing licenses to agents, brokers, consultants, reinsurance intermediaries, adjusters, and bail bondsmen; conducting examinations of insurers to determine their financial condition, treatment of policyholders and claimants, and underwriting practices; and auditing each company’s annual reports.

  And so on.............

  Does this mean - since I'm not native English speaking - the Watchtower runs an insurance business???

  Yakki Da

  Kent

  I need more BOE letters, KMs and other material. Those who can send it to me - please do! The new section will be interesting!!

  Daily News On The Watchtower and the Jehovah's Witnesses:
  http://watchtower.observer.org
• 

  Eyebrow

  This has to do with annuities, which are actually back by life insurance. The society is not an insurance company, but it looks like they offer some kind of annuity program, which many educational and religious organizations do. That is why they are under Charitable Annuity Societies.

  They line may seem fine to some, but you cannot consider these organizations listed to be like a Metropolitian or Prudential, etc. They are all just regulated by the Insurance Department.

  I have never heard about this before. Do they have annuities for the GB or something? I have never heard about any Bethelites getting a pension or anything. Can anyone elaborate? It would be great if they did offer that to those that work for years for them in an otherwise unpaid work.
• 

  Kent

  I also happen to know the Watchtower is investing peoples money in the stock market. I had a contact who told me about individual JWs who had invested up to 150.000 USD!

  They run a pretty slick business, don't they?

  Yakki Da

  Kent

  I need more BOE letters, KMs and other material. Those who can send it to me - please do! The new section will be interesting!!

  Daily News On The Watchtower and the Jehovah's Witnesses:
  http://watchtower.observer.org
• 

  sf

  < http://www.ccrhouston.com/insurance.html

  VOCATIONAL REHABILITATION SERVICES
  WALMART*
  WARD-THG
  WATCHTOWER BIBLE & TRACT SOCIETY OF NEW YORK INC.*
  WAUSAU INSURANCE COMPANIES
  WETZEL SCOTT SERVICES
  WEYERHAEUSER COMPANY
  WOOLWORTH
  WORCOMP BILL REVIEW SERVICES
  WYATT CAFETERIAS, INC.
  ZEP MANUFACTURING
  ZURICH-AMERICAN
• 

  Kent

  Well, THIS was cool. Did anyone check the main page? It's obviously run by someone as much a crackpot as the JWs. Here is a little of the text:

  Barbara Abramowitz,LPC,LMFT,LCDC

  Psychotherapist for over 15 years healing the body, mind and Spirit
  Fees range from $50-$150

  Nature-based Psychotherapy
  Mind, Body, Spirit Psychotherapy

  Self- discovery Therapy

  Couple, Marriage and / or Family Therapy

  Alcohol and Drug Counseling

  Solutions to conflicts regarding home, workplace or schools

  Yhe "healing" of "spirit and mind" seems like a good idea - but it doesn't look like it worked, he, he...

  Yakki Da

  Kent

  I need more BOE letters, KMs and other material. Those who can send it to me - please do! The new section will be interesting!!

  Daily News On The Watchtower and the Jehovah's Witnesses:
  http://watchtower.observer.org
• 

  LDH

  Kent,

  I would think that they self-insure. Something that is highly regulated. It would be just like them to handle all the underwriting and administration in-house, where the slaves work for free.

  This way, they don't have to insure with ungodly worldly carriers.

  Also, on this board a few months ago was a young man who said the WBTS was now the property and casualty policy underwriter of some smack that went down in Georgia, US. I asked him to provide me with more info as I have some old contacts in the NYS department of Insurance, but he took it that I was questioning his integrity and left in a huff.

  That info would've been valuable.

  Lisa
• 

  Trevor Scott

  FYI,

  I emailed this person requesting information about the "Watchtower Bible and Tract Society" insurance company.

  TS,
• 

  Kent

  For some reason I believe this goes beyond self insurance. The Watchtower is into business, as they are with investing JWs money in stocks.

  Why wouldn't they be into insurance of stuff? It's a profitable business, really profitable, and they have all the money they need to grant the neccesary "basic" for the business.

  In fact, they have billions which are "unknown" to "anyone".

  Yakki Da

  Kent

  I need more BOE letters, KMs and other material. Those who can send it to me - please do! The new section will be interesting!!

  Daily News On The Watchtower and the Jehovah's Witnesses:
  http://watchtower.observer.org
• 

  Eyebrow

  I doubt very much the Property and Casualty claim.
  I would like to see an official answer from the Watchtower, see what the spin will be.

  If they are investing money in some sort of annuity plan for the witnesses that volunteer there, then being listed as a charitable annuity society makes perfect sense.

  The only way that this bothers me is that the WT always claims to be different from other religions. Well, there are plenty of religions that take care of the people that devote their life to the religion with pensions, etc. There is nothing wrong with that. It is the high and mighty tone they take that annoys me.