Insurance was once a valuable means of risk sharing has now all but to often turned into nothing more than a government sanctioned protection racket run by mobsters.
It always gets worse when there is a recession and loss reserves that were invested in the stock markets lose capital.
We need to clean-up the insurance industry before the public rises up and shuts this crooked industry down.
I’d have a pocket full of nickels if I had one for every insurance industry wonk with the alphabet soup behind his name sitting, seething in some corner studying his books and forming conspiracy theories or worse yet, how they could get back at the system for not giving them their due for all their hard work collecting those letters and knowing more than everyone else.
Can anyone say “sour grapes”?
On the other hand, I will confess that insurance pros have been lost to financial wiz kids straight out of B school and bean counters and HR wonks and IT dorks. I like beating my head against walls, so I just can’t bring myself to call me “crooked”. I don’t bend so I’ll never be in a corner office involved with “enterprise risk management” and making funny money. I do what I can and sleep soundly knowing that I was fair and just maybe helped somebody out that day. In the end, isn’t that what it’s all about?
Boss told WC carrier to deny the claim; boss stated injury did not occur at work; had no knowledge of the injury until they received a bill from the ER – a blatant false statement. Received a denial letter signed by the adjuster for the carrier. Carrier did not even call me until I filed for a hearing with Labor and Industry. Then they gave me a call, I gave them the background on the incident. They “checked out my story,” found out it was legit and decided to go ahead and pay the bill. So then I had to cancel the hearing. But why did I have to go through all that to get the WC carrier to pay a freaking emergency room bill that ended costing them under $600???
How about something from the last thirty years? Besides that was an out and out fraud committed by an insurer against its reinsurers. It had absolutely nothing to do with the issue of how insurers handle claims.
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Insurance was once a valuable means of risk sharing has now all but to often turned into nothing more than a government sanctioned protection racket run by mobsters.
It always gets worse when there is a recession and loss reserves that were invested in the stock markets lose capital.
We need to clean-up the insurance industry before the public rises up and shuts this crooked industry down.
.
I’d have a pocket full of nickels if I had one for every insurance industry wonk with the alphabet soup behind his name sitting, seething in some corner studying his books and forming conspiracy theories or worse yet, how they could get back at the system for not giving them their due for all their hard work collecting those letters and knowing more than everyone else.
Can anyone say “sour grapes”?
On the other hand, I will confess that insurance pros have been lost to financial wiz kids straight out of B school and bean counters and HR wonks and IT dorks. I like beating my head against walls, so I just can’t bring myself to call me “crooked”. I don’t bend so I’ll never be in a corner office involved with “enterprise risk management” and making funny money. I do what I can and sleep soundly knowing that I was fair and just maybe helped somebody out that day. In the end, isn’t that what it’s all about?
Boss told WC carrier to deny the claim; boss stated injury did not occur at work; had no knowledge of the injury until they received a bill from the ER – a blatant false statement. Received a denial letter signed by the adjuster for the carrier. Carrier did not even call me until I filed for a hearing with Labor and Industry. Then they gave me a call, I gave them the background on the incident. They “checked out my story,” found out it was legit and decided to go ahead and pay the bill. So then I had to cancel the hearing. But why did I have to go through all that to get the WC carrier to pay a freaking emergency room bill that ended costing them under $600???
Equity Funding!!!!!!!!
How about something from the last thirty years? Besides that was an out and out fraud committed by an insurer against its reinsurers. It had absolutely nothing to do with the issue of how insurers handle claims.
reverend – the insurance industry is as crooked as the claimants and insureds themselves.