Let Private Markets Handle Most Disasters, Insurers Advise Congress

March 28, 2007

  • March 29, 2007 at 10:09 am
    SS says:
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    This would be a nice thing if the claim handling process was nt so corrupt. Ipersonally wish some got\’t agancy would ook into all claim handling by the big guns,Allstate, State Farm,etc. In IL,commissioners office reported that the big boys deny or settle well below the real value over 60% of the homeowners and auto claims. IL policy holders are not happy. The companies do this to force the insured to give up or incur legal costs to sue.
    So when I hear \”more than 95 percent of the 1.1 million homeowners\’ claims in Mississippi and Louisiana had been resolved\” I have to wonder if they were satisfactorily resolved.

  • March 29, 2007 at 1:23 am
    Rick says:
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    The claim handling process is not corrupt. My job as a claims handler is to pay what the contractual agreement, between the insured and insurer states, nothing more or less. Usually when a claim arises the insured is already in an unhappy and unfortunate situation. It is very difficult to make people happy under these adverse circumstances. Most customers are very nice and fair, however there are also those that cannot be pleased no matter what you do. The free market is the best way to retify any substandard claim practice by the affected party no longer dealing with that company. To ask government to look into all claim handling you would have to ignore all the many previous imcompetent acts of government and the ego driven politicians that control it.

  • March 30, 2007 at 2:05 am
    William says:
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    corrupt..probably not…self serving to the insurer, you bet. If it is the adjusters job to pay as you stated no more or less than the contract allows…

    Why then can I tell of my personal case, initial payment of 3,700 dollars, claim closed. Claim reopened…. settled for 162,000 dollars. Now, somebody didnt do their job. And mine is not an isolated case, not by a long shot. Seems to me the idea was, throw them a bone, see if they take it and go away, if they do great we save money, if they dont then we will really negotiate.

  • March 29, 2007 at 2:27 am
    Mark says:
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    Excellent comment, Rick!!

  • April 1, 2007 at 3:10 am
    adjusterjoe says:
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    William:

    You must understand that Mark is smarter than the judges and juries and knows all. If you do not believe it, just ask him. He has told everyone just that in another thread. I am also an adjuster and I cannot get anyone to tell me of another company other than State Farm and Nationwide that REFUSED TO PAY wind damage on slab cases. According to Mark, the only reason you got the additional money was due to Judge Senter being incompetent. Mark gives my industry a bad name.



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