two years and still scamming. I well understand the trial lawyers report is self serving, but there is truth in it. The insurance industry is still denying payments and lowballing their offers they are making. There is no settlement option out there, except a lawsuit, which forces State Farm and Nationwide to make legitimate offers!
I got a great idea: let’s have the insurance companies review all “denied” claims, just in case they missed one and let’s have all these attorneys work pro bono litigating all those which are being disputed….if we take out the monetary, moral hazard, I wonder how many attorneys would be complaining about the denials and lowballing that they allege….I’m tired of this. Katrina claims were paid through direct and reinsurance to the tune of $40 billion. To me it has resolved itself to be an issue of those who shouldn’t be living in a flood plain in the first place looking for a payout that they don’t deserve. If you have assets and fail to protect them, shame on YOU!
‘Annotti noted that while the most significant lawsuits failed in the courts, the litigation succeeded in creating uncertainty about the validity of insurance contracts. This level of uncertainty helped to further destabilize insurance markets in the region, leading, in part, to higher rates and the unwillingness of some insurers to sell coverage in coastal areas.’
Millions of claims settled in two years.
Maybe they all should have been settled the day after Katrina. Question? Were the remaining relatively few still living in taxpayer sponsered trailers even covered by insurance to begin with? I’m sure some just transferred from permanent government housing to temporary government housing without missing a beat.
The insurance companies claim the trial bar is hiding behind the “American Association for Justice”(AAJ) but then cite their own collection of shill names: NAMIC; Insurance Information Institute; Insurance Trade Representatives; Property Casualty Insurers Association of America and American Insurance Association and this is just in this one article. If there is anyone that hides behind phony organizations it is the insurance industry. Maybe it is time for any organization to fully divluge who pays the bills and what their interests are.
The insurance industry groups you cite all carry the word “insurance” in their names. Where in American Association for Justice, does it state that they are a group of “trial lawyers”? This is where hiding comment comes from.
The trial lawyers’ report called RMS “an insurance industry group,” making it sound like a trade association or something similar, as if RMS’s pronouncements aboout the flood were industry PR. Acc to its website, RMS is a business corporation. It does not speak on behalf of the industry.
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two years and still scamming. I well understand the trial lawyers report is self serving, but there is truth in it. The insurance industry is still denying payments and lowballing their offers they are making. There is no settlement option out there, except a lawsuit, which forces State Farm and Nationwide to make legitimate offers!
I got a great idea: let’s have the insurance companies review all “denied” claims, just in case they missed one and let’s have all these attorneys work pro bono litigating all those which are being disputed….if we take out the monetary, moral hazard, I wonder how many attorneys would be complaining about the denials and lowballing that they allege….I’m tired of this. Katrina claims were paid through direct and reinsurance to the tune of $40 billion. To me it has resolved itself to be an issue of those who shouldn’t be living in a flood plain in the first place looking for a payout that they don’t deserve. If you have assets and fail to protect them, shame on YOU!
‘Annotti noted that while the most significant lawsuits failed in the courts, the litigation succeeded in creating uncertainty about the validity of insurance contracts. This level of uncertainty helped to further destabilize insurance markets in the region, leading, in part, to higher rates and the unwillingness of some insurers to sell coverage in coastal areas.’
Millions of claims settled in two years.
Maybe they all should have been settled the day after Katrina. Question? Were the remaining relatively few still living in taxpayer sponsered trailers even covered by insurance to begin with? I’m sure some just transferred from permanent government housing to temporary government housing without missing a beat.
The insurance companies claim the trial bar is hiding behind the “American Association for Justice”(AAJ) but then cite their own collection of shill names: NAMIC; Insurance Information Institute; Insurance Trade Representatives; Property Casualty Insurers Association of America and American Insurance Association and this is just in this one article. If there is anyone that hides behind phony organizations it is the insurance industry. Maybe it is time for any organization to fully divluge who pays the bills and what their interests are.
The insurance industry groups you cite all carry the word “insurance” in their names. Where in American Association for Justice, does it state that they are a group of “trial lawyers”? This is where hiding comment comes from.
“Pattern of Greed 2007: How Plantiff’s lawyers Put Profits over Ethical Responsibilites”
There, it is fixed. An BTW, adjusterjoe, isn’t there another State Farm bashing forum you are missing from? I bet they miss you.
AJ’s method of “good faith” claim handling: Pay policy limits on any claim presented.
Common Sense Report: Flood still not covered after two years, two million lawyers and too much political bs.
Um yeah, I tend not to believe one word of any report from the Trial Bar. Talk about a biased report.
The trial lawyers’ report called RMS “an insurance industry group,” making it sound like a trade association or something similar, as if RMS’s pronouncements aboout the flood were industry PR. Acc to its website, RMS is a business corporation. It does not speak on behalf of the industry.