So there you have it…Inherently unfair (and “legal”) schemes, that attempt to transfer financial loss / liability risks back to policyholders, can enrich insurers and stockholders. Hmmm…
It appears that all of the (insurer-adjuster) missed property damage / irrational-low ball construction estimates / false construction business estimating methodologies / payment foot dragging from the 2003 Hurricane Isabel and 2004 – 2005 Florida hurricanes, could be intentional schemes to tranfer actual loss claim reconstruction, personal content, ALE, loss-of-use and etc. covered financial loss values, back to policyholders, so as to allow certain insurers to keep dollars owed their clients…while, simultaneously, they “create” contingent and unjust profits through their claim settlement protocols.
After all, if a lot of policyholders do not know what truly defines property damage / financial loss, (wind-debris scoured shingles / aluminum siding / pool cages & screenage , window etching, garage doors, gutters, architecturally whole-matching property restoration issues, loss of use of home, ALE, recoverable depreciation etc, etc, etc. entitlements) , AND they could be worn down to accept less than the loss is actuarially / underwriter / claim reserve worth /, then the costs of replacing those items would transfer back to the policyholder.
And a ripe environment for stealth profit generation would exist.
Clever.
That practice could easily be applied towards daily claims too, not just catastrophe claims.
Imagine the profits to be made by advertising to the public one thing, (being a trusting “neighbor” who would tenderly hold you in their protective “hands”, while at the same time planning on keeping money inherently owed ones at the time of their loss.
Yes, there are are many, many clever schemes to “Curtail Liabilities”…and it appears that certain insurers have out foxed themselves.
It can take time, but, a progressively educated public can expect to be repaid for past and present “quantum meruit” principles their (blatant / subtle / latent) exterior and interior property loss claim coverage states is overdue.
Interestingly, people first, then bonuses, then stockholders is proclaimed to be sacred business practice by (some) insurers through the mass media, but their claim adjusting, and people handling, practices, prove otherwise.
Too bad for them. A decent living can be made without intentionally deceiving and harming the public.
Now some USA and international insurers and their representatives could lose both stockholders and policyholders and employees (and maybe their own freedom) as their inherently unfair – fraudulent business practices are progressively exposed.
It really is a neat trick to “transfer” risk and later on, what should be paid out for losses, is then available for “transfer” to dividends, bonuses and stock options.
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So there you have it…Inherently unfair (and “legal”) schemes, that attempt to transfer financial loss / liability risks back to policyholders, can enrich insurers and stockholders. Hmmm…
It appears that all of the (insurer-adjuster) missed property damage / irrational-low ball construction estimates / false construction business estimating methodologies / payment foot dragging from the 2003 Hurricane Isabel and 2004 – 2005 Florida hurricanes, could be intentional schemes to tranfer actual loss claim reconstruction, personal content, ALE, loss-of-use and etc. covered financial loss values, back to policyholders, so as to allow certain insurers to keep dollars owed their clients…while, simultaneously, they “create” contingent and unjust profits through their claim settlement protocols.
After all, if a lot of policyholders do not know what truly defines property damage / financial loss, (wind-debris scoured shingles / aluminum siding / pool cages & screenage , window etching, garage doors, gutters, architecturally whole-matching property restoration issues, loss of use of home, ALE, recoverable depreciation etc, etc, etc. entitlements) , AND they could be worn down to accept less than the loss is actuarially / underwriter / claim reserve worth /, then the costs of replacing those items would transfer back to the policyholder.
And a ripe environment for stealth profit generation would exist.
Clever.
That practice could easily be applied towards daily claims too, not just catastrophe claims.
Imagine the profits to be made by advertising to the public one thing, (being a trusting “neighbor” who would tenderly hold you in their protective “hands”, while at the same time planning on keeping money inherently owed ones at the time of their loss.
Yes, there are are many, many clever schemes to “Curtail Liabilities”…and it appears that certain insurers have out foxed themselves.
It can take time, but, a progressively educated public can expect to be repaid for past and present “quantum meruit” principles their (blatant / subtle / latent) exterior and interior property loss claim coverage states is overdue.
Interestingly, people first, then bonuses, then stockholders is proclaimed to be sacred business practice by (some) insurers through the mass media, but their claim adjusting, and people handling, practices, prove otherwise.
Too bad for them. A decent living can be made without intentionally deceiving and harming the public.
Now some USA and international insurers and their representatives could lose both stockholders and policyholders and employees (and maybe their own freedom) as their inherently unfair – fraudulent business practices are progressively exposed.
Too bad indeed.
Roger Poe
rogerpoe@acnet.net
It really is a neat trick to “transfer” risk and later on, what should be paid out for losses, is then available for “transfer” to dividends, bonuses and stock options.