Like one in a million may put the torch to a home to collect insurance money,
yet every policy holder is defrauded by this Industry.
It would be fair to say, they don\’t like the taste of their own medicine.
I did think about rewriting the book,
The Real Mississippi Burning.
Thought about burning everyones\’s house except my own because I never wanted to seem greedy, I just wanted justice for being denied with my first claim in 20 years. It made me more angry when I saw My Neighbors suffering the consequences.
I am a law abiding citizen and I would never do anything like that but the thought did enter my mind.
We laughed and said, Lets Do a Real Mississippi Burning and see if they pay for fire?
Guess What, homes that were torched, were denied too, said they were already destroyed from Katrina.
Statement of Alex Soto
Senate Committee on Governmental Affairs
\”Oversight Hearing on Insurance Brokerage Practices, Including Potential Conflicts of Interest and the Adequacy of the Current Regulatory Framework\”
November, 16 2004
Good morning Chairman Fitzgerald, Ranking Member Akaka, and Members of the Subcommittee. My name is Alex Soto, and I am pleased to be here today on behalf of the Independent Insurance Agents & Brokers of America (IIABA) and to provide my association’s perspective on broker compensation issues that are the focus of this hearing. I am an officer of the IIABA and have served on our national association’s Executive Committee for over three years. I am also President of InSource, Inc., a Miami-based independent agency that offers a broad array of insurance products to consumers and commercial clients in South Florida and beyond.
IIABA is the nation’s oldest and largest trade association of independent insurance agents and brokers, and we represent a nationwide network of more than 300,000 agents, brokers, and employees. IIABA represents independent insurance agents and brokers who present consumers with a choice of policy options from a variety of different insurance companies. These small, medium, and large businesses offer all lines of insurance — property, casualty, life, health, employee benefit plans, and retirement products.
IIABA’s Reaction to the Marsh Investigation
IIABA condemns in the strongest possible terms bid-rigging, marketplace manipulation, and other anti-competitive conduct, and we are outraged by those who have engaged in illegal practices and tarnished the image of our great industry in the process. We applaud the efforts of state insurance regulators, attorneys general, and other law enforcement officials to swiftly identify and bring to justice anyone proven guilty of these unlawful activities. No system of regulation and oversight will ever prevent all determined bad actors from breaking the laws of the land, but we are extremely pleased state officials are acting aggressively and in a coordinated manner to restore the public’s trust in the insurance industry. It is our hope that all individuals who have engaged in this conduct will be punished to the fullest extent of the law. ( Okay good go after State Farm)
Typical, double talking, BS.
Smells like ENRON, but worst than one Co.
Someone needs to stand up for Homeowners or they will continue to do this, because they can.
I say, stop allowing Campaign Contributions for Insurance Commissioners.
No need to bid rig because the Industry has found loopholes for any claim.
A Policy, without Coverage.
How long have you worked in insurance
I have been in the industry 25 years
and people try to get things paid for
\”fraud\” on a regular basis. The industry
gave new roofs, gutters, air conditioners to everyone in Jo Co in 1992/1993 and insureds thought it was a big joke. We got a brand new…. we needed one anyway.
Yes they spill BLEACH on their carpet to get new carpet….on and on and on
give me a break, I wish everyone was honest and trustworthy but my ears and eyes tell me the real story.
Attorney General: CT Attorney General Joins 48 States and DC in $40 Million Settlement With State Farm For Damages …
CT Attorney General Joins 48 States and DC in $40 Million Settlement With State Farm For Damages Vehicle Titles Abstract: Attorney General Richard Blumenthal today joined officials from 48 other states and the District of Columbia in announcing a $40 million settlement with State Farm Mutual Insurance Company to compensate consumers who … http://www.ct.gov/ag/cwp/view.asp?A=1949&Q=290002 – 21.7KB 38%
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17 May 07
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Like one in a million may put the torch to a home to collect insurance money,
yet every policy holder is defrauded by this Industry.
It would be fair to say, they don\’t like the taste of their own medicine.
I did think about rewriting the book,
The Real Mississippi Burning.
Thought about burning everyones\’s house except my own because I never wanted to seem greedy, I just wanted justice for being denied with my first claim in 20 years. It made me more angry when I saw My Neighbors suffering the consequences.
I am a law abiding citizen and I would never do anything like that but the thought did enter my mind.
We laughed and said, Lets Do a Real Mississippi Burning and see if they pay for fire?
Guess What, homes that were torched, were denied too, said they were already destroyed from Katrina.
Rush is too high on prescription drugs to make any type of coherent statement about anything.
M&M you are not plain so you must be NUTS. Hang out with \”adjuster\”joe much?
Jewel is a (Vulture) (no a Paranah) no a State Farm Agent.
Or is it miss Alex Soto. I see the two of you read the same B.S.
Statement of Alex Soto
Senate Committee on Governmental Affairs
\”Oversight Hearing on Insurance Brokerage Practices, Including Potential Conflicts of Interest and the Adequacy of the Current Regulatory Framework\”
November, 16 2004
Good morning Chairman Fitzgerald, Ranking Member Akaka, and Members of the Subcommittee. My name is Alex Soto, and I am pleased to be here today on behalf of the Independent Insurance Agents & Brokers of America (IIABA) and to provide my association’s perspective on broker compensation issues that are the focus of this hearing. I am an officer of the IIABA and have served on our national association’s Executive Committee for over three years. I am also President of InSource, Inc., a Miami-based independent agency that offers a broad array of insurance products to consumers and commercial clients in South Florida and beyond.
IIABA is the nation’s oldest and largest trade association of independent insurance agents and brokers, and we represent a nationwide network of more than 300,000 agents, brokers, and employees. IIABA represents independent insurance agents and brokers who present consumers with a choice of policy options from a variety of different insurance companies. These small, medium, and large businesses offer all lines of insurance — property, casualty, life, health, employee benefit plans, and retirement products.
IIABA’s Reaction to the Marsh Investigation
IIABA condemns in the strongest possible terms bid-rigging, marketplace manipulation, and other anti-competitive conduct, and we are outraged by those who have engaged in illegal practices and tarnished the image of our great industry in the process. We applaud the efforts of state insurance regulators, attorneys general, and other law enforcement officials to swiftly identify and bring to justice anyone proven guilty of these unlawful activities. No system of regulation and oversight will ever prevent all determined bad actors from breaking the laws of the land, but we are extremely pleased state officials are acting aggressively and in a coordinated manner to restore the public’s trust in the insurance industry. It is our hope that all individuals who have engaged in this conduct will be punished to the fullest extent of the law. ( Okay good go after State Farm)
Typical, double talking, BS.
Smells like ENRON, but worst than one Co.
Someone needs to stand up for Homeowners or they will continue to do this, because they can.
I say, stop allowing Campaign Contributions for Insurance Commissioners.
No need to bid rig because the Industry has found loopholes for any claim.
A Policy, without Coverage.
Do you EVEN read the posts? I mean, do you have someone READ them to you? Or do you just post out of your behind?
How long have you worked in insurance
I have been in the industry 25 years
and people try to get things paid for
\”fraud\” on a regular basis. The industry
gave new roofs, gutters, air conditioners to everyone in Jo Co in 1992/1993 and insureds thought it was a big joke. We got a brand new…. we needed one anyway.
Yes they spill BLEACH on their carpet to get new carpet….on and on and on
give me a break, I wish everyone was honest and trustworthy but my ears and eyes tell me the real story.
Attorney General: CT Attorney General Joins 48 States and DC in $40 Million Settlement With State Farm For Damages …
CT Attorney General Joins 48 States and DC in $40 Million Settlement With State Farm For Damages Vehicle Titles Abstract: Attorney General Richard Blumenthal today joined officials from 48 other states and the District of Columbia in announcing a $40 million settlement with State Farm Mutual Insurance Company to compensate consumers who …
http://www.ct.gov/ag/cwp/view.asp?A=1949&Q=290002 – 21.7KB 38%
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17 May 07