We received this photo from earlier this evening showing just how deep the hail was in northern Potter County
Posted on 04/12/2012 11:42:28 AM PDT by TaraP
PITTSBURGH — As weather disasters strike with more frequency, homeowners first get hit with the destruction or total loss of property. Many are then hit with the unexpected loss of homeowners insurance policies as insurance companies re-evaluate their financial liabilities.
After a tornado ripped through Springfield, Massachusetts, last year, R. Paula Lazzari's home was badly damaged. The retired teacher found broken windows, missing siding and a damaged roof. Her insurer offered to fund repairs for one broken window and some of the siding. It took nine months -- and mediation services from an independent adjuster and the Massachusetts Division of Insurance -- to get her bills paid, according to the parties involved.
(Excerpt) Read more at msnbc.msn.com ...
The Biblical Weather is all over the world...
Unusual hail, heavy rain, snow hit southern Saudi...
Unprecedented weather in the Saudi southern province of Aseer resulted in the drowning of two children and two men. (Al Arabiya)
3 to 4 ft Hail in Texas
Unbelievable Hail Storm in Texas
http://www.accuweather.com/en/weather-news/texas-hail-storm-3-feet-hail/63959
Looking at a major tornado outbreak from today through Sunday in the plains.
We received this photo from earlier this evening showing just how deep the hail was in northern Potter County
When the mega earthquake hits here on the West Coast insurance companies will be unable to pay coverage for that magnitude of damage.
Insurance companies and other corporations in the US are in business to make a profit and here we see examples of government bureaucrats enforcing regulations upon insurance companies that will make it more difficult for them to make a profit.
This is not to mention the customers who file insurance claims and expect their insurance company to come in, save the day, pick-up all the pieces and improve their homes after a weather event.
Nah, they'll be just fine. They'll just tell everyone that their earthquake riders don't apply and that if they wanted to be covered they should have bought mega-earthquake riders. And they will get away with it.
Those earthquake policies that cost well over 3,000.00 a year will be worthless when the West has their major quake...
How come in blue states it takes months and months to settle a claim, but in red states it takes all of three days as long as the government doesn’t get involved?
I had hail damage to my car. Called insurance company that afternoon, they came the next morning to my auto repair shop, looked at the damage, signed off on it, my car was in that afternoon, a day later car was back, claim paid and everyone was happy.
I live in a blue state. Life can be rough.
What the article fails to mention is that in good, or even record profit years, these companies get to “Defer” their profits and pay MUCH less tax.
They then claim that income in years where they have high losses, taking loss deductions and again paying less tax.
Private citizens, and so far as I know, no other business has such a sweet tax reduction deal.
Now this!
“Insurance companies have significantly and methodically decreased their financial responsibility for weather catastrophes like hurricanes, tornados and floods in recent years,” the Consumer Federation of America said in a statement after studying industry data.
The industry concedes that it is trying to avoid getting trounced by those same punishing weather patterns.
“Last year (2011) was an extraordinary year for natural disasters,” said Michael Barry of the Insurance Information Institute (III), an industry trade group. “Insurers have taken a step back to assess whether or not they can absorb severe losses.”
A tornado hit a town a few miles south of me a couple of years back and demolished a lot of property, blowing away an entire house. The insurer offered the owner 80%, reasoning that the basement was still intact, even though it was filled with debris.
The Governor of the state was in town, reviewing the damage, he heard the story and inspected the home site himself, he then got on the phone,made a few threats, twisted a few arms and the insurer finally agreed to pay for a 100% loss.
You might be surprised to learn the Governor’s name.
Rod Blagojevich.
From the look of that video, the 3 to 4 foot of hail was hail that washed into low-lying areas.
I've heard of cows freezing to death in Oklahoma from taking shelter from a storm in a cattle tank and then having hail washed in and freezing them in place.
At the link it says 3-4 inches, not feet.
translation: Climate Change is destroying your ability to buy insurance
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