Posted on 03/31/2006 4:10:32 AM PST by WKB
And he's Trent's brother-in-law!
YES! "AND" the last I read, Trent was unhappy with his insurance coverage after his family home was destroyed.
With the amount of disgust in Lousiana and Mississippi...and State Farm appears to be the worst of the companies...although alot of them are "cheating" the system...it will not surprise me if these states forbid any business with State Farm. And regional states close by...may view this...particuliary Florida and Alabama....and start pushing them to the front door as well. For a insurance company...to have 3 or 4 states denying you a chance to sell your products....you really start to scare investment folks up alot.
Based on the atittude of alot of these insurance guys....perhaps we should simply toss a couple into a New Orelans city jail for a week and see how friendly and cooperative they are then.
I think you have that backwards, don't you?
Along the MS Gulf Coast, most of those houses are not considered in a flood zone, and the homeowners were told they didn't need it. There was one insurance agent, in my b-i-l's parish who, when he wrote homeowner's policies, convinced his clients to purchase the flood insurance, since it wasn't that much more expensive. His folks have already gotten their payouts. The company didn't even blink, just wrote the checks. Needless to say, that man is a hero in his customers' eyes.
Her friend ended up with a sailboat in their yard, and their boat ended up 6 MILES away at the bottom of a pile of other boats in the center of a town. They had already finished the deal with the insurance company when they got the call that their boat had been found. She just told the guy calling to call the insurance company since they owned the boat now.
Excessive rain can cause flooding. Mix that in with hurricane winds and you have storm surge.
My dad has flood insurance, not because he was forced into buying it, but because the policies are so broad, that some cover more than just floods. His crop insurance policy also extends to other such acts of God like hail damage.
The problem with these lawsuits that Scruggs and Hood are filing is that they are overreaching. They essentially want to void valid contracts and get coverage for damage that premiums were never paid to cover. If this happens, I fear that no insurance company will want to write policies in Mississippi and I can't say that I would blame them.
Do you have a link to that ABA guide you referenced in your post? Please provide it.
The only people who are going to make money out of this are Scruggs and his cronies. I don't know why people want to pick on adjusters.
You've explained it to me perfectly and I hope everyone reads your post.
If that happens no company in the United States will want to write ANY kind of contract in Mississipi, up to and including mortgages. Not if they can be changed on a whim.
Because they are the people they see.
Insurance companies refuse to pay on legitimate claims. Lawyers get hired. Lawyers take 30%.
Floyd closed I-95 at the VA/NC border, and flooded eastern NC. Greenville lost thousands of homes. I flew from Morehead City to Raleigh, to Wilmingtin, and back, and saw reflected water over 75% of the area. It went north and inundated NJ as well...
Of course the insurance companies most certainly are making the money ... it is called premiums!Insurance companies refuse to pay on legitimate claims. Lawyers get hired. Lawyers take 30%.
Insurance companies are in the business of collecting premiums ... and denying claims.If the insurance companies paid on legitimate claims ... the policy holders would be made whole ... and the lawyers would not make a dime.
When the insurance companies refuse to pay on legitimate claims ... any policy holder is wise and prudent to hire a lawyer and "settle" for 70% of what their claim is worth and their policy paid for, after 30% goes to a legal fee ... instead of "settling" for the 0% the insurance company intends for them to get. Most lawyers cannot work pro bono [for nothing]. Litigation is expensive. Most claimants lack the skills necessary to represent themselves effectively. Most lawyers cannot work pro bono [for the good of a client, without any remuneration].
If the insurance industry did not want lawyers to make fees ... well, they could just pay all their legitimate claims. Don't hold your breath.
I tried on numerous occasions to buy flood insurance from a variety of major underwriters. On every occasion I was told they didn't sell it, that the only way to get flood insurance was through the government program. And everytime I'd try to buy that insurance, I was told I was ineligible because I didn't live in a flood plain. Bottom line: I COULDN'T buy flood insurance.
MM
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