I\’ll bet $10 that Allstate comes out today in the press with a \”new and improved\” discount, just for their special customers. Farmers uses this tactic too. Doesn\’t work very well.
As an insurance agent of almost 30 years I have witnessed a LOT! Nowadays, insurance companies, due to in-house counsel, argue the policy (contractual) language, seeking to find ways NOT TO HONOR CLAIMS AND AVOID PAYING CLAIMS! It all goes under the heading of CORPORATE GREED! Also, as I have been stating for quite some time now, a NATIONAL (UNIVERSAL) INSURANCE PROGRAM is coming over the horizon. Meetings are being held in California very soon. The public will be forced to paying for ADEQUATE insurance through the NATIONAL PLAN and subject to THOSE terms and policy provisions and contract language, promulgated by the various state insurance agencies throughout the U.S.
I work for a mutual insurance company and our surplus belongs to our policyholders. So, all this \”corporate greed\” garbage really gets old in a hurry.
Most coverages are triggered by \”direct physical loss\” to the insured property, and also contain exclusions related to orders of civil authorities. So, if I understand this situation correctly, the insureds did not sustain any \”direct physical loss\” and are barred from returning by order of civil authority.
This is just like the MS AG suing insurers to force payment for flood damage, despite the decades-old well known exclusions in virtually every type of policy.
LL: \”REALLY\”. Check out the National Association of Insurance Commissioners (NAIC) website, Consumer section left side, company information (right side). Complete brief questions about you, download. Company financials, dividends, investments, offshore reinsurance, etc.
Tom: Corporate Greed. Check out recent lawsuits in California (SF & Farmers) for employee hourly & wages. (SF) & Farmers had NOT paid employee overtime and lost suit. Farmers $90Mn (SF) $83Mn. (SF) charged loss to UNDERWRITING PROFIT which in turn gets charged to CONSUMERS in form of higher insurance rates. (SEE:NAIC) \”REALLY\”
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Nowadays, your coverage is not determined by the language of your own policy, but by what your neighbors get!
Really?
I\’ll bet $10 that Allstate comes out today in the press with a \”new and improved\” discount, just for their special customers. Farmers uses this tactic too. Doesn\’t work very well.
As an insurance agent of almost 30 years I have witnessed a LOT! Nowadays, insurance companies, due to in-house counsel, argue the policy (contractual) language, seeking to find ways NOT TO HONOR CLAIMS AND AVOID PAYING CLAIMS! It all goes under the heading of CORPORATE GREED! Also, as I have been stating for quite some time now, a NATIONAL (UNIVERSAL) INSURANCE PROGRAM is coming over the horizon. Meetings are being held in California very soon. The public will be forced to paying for ADEQUATE insurance through the NATIONAL PLAN and subject to THOSE terms and policy provisions and contract language, promulgated by the various state insurance agencies throughout the U.S.
CAVEAT EMPTOR
I work for a mutual insurance company and our surplus belongs to our policyholders. So, all this \”corporate greed\” garbage really gets old in a hurry.
Most coverages are triggered by \”direct physical loss\” to the insured property, and also contain exclusions related to orders of civil authorities. So, if I understand this situation correctly, the insureds did not sustain any \”direct physical loss\” and are barred from returning by order of civil authority.
This is just like the MS AG suing insurers to force payment for flood damage, despite the decades-old well known exclusions in virtually every type of policy.
LL: \”REALLY\”. Check out the National Association of Insurance Commissioners (NAIC) website, Consumer section left side, company information (right side). Complete brief questions about you, download. Company financials, dividends, investments, offshore reinsurance, etc.
Tom: Corporate Greed. Check out recent lawsuits in California (SF & Farmers) for employee hourly & wages. (SF) & Farmers had NOT paid employee overtime and lost suit. Farmers $90Mn (SF) $83Mn. (SF) charged loss to UNDERWRITING PROFIT which in turn gets charged to CONSUMERS in form of higher insurance rates. (SEE:NAIC) \”REALLY\”