Hurricane Isabel hit Maryland 14 months
ago. There are people with full coverage
still living in FEMA trailers. The stress
is terrible. Knowing you had plenty of
coverage and yet only receiving pennies.
See the site http://www.femainfo.us This site
was started by Steve Kanstoroom, a retired
fraud intestigator.
Being so “down” on adjusting, and still doing it, reminds me of the story of the lady stranded on a desert island with two men. After a few weeks she became so ashamed of what she was doing she killed herself. After another few weeks the men became so ashamed of what they were doing they buried her.
I have adjusted property for 36 yrs. and have yet done anything I was ashamed of with an insured, or company. There have been some things I have refused to do.
I spent 28 years in the construction industry and 5 years as a full service agent before becoming an independent claim rep 10+ years ago.
In the past 10 years, I have worked almost exclusively for State Farm from one side of this great nation to the other.
It has always been understood that it was not our job to deny claims, but to look for ways to find coverage.
State Farm’s philosphy has always been to pay what we owe, but not more than we owe.
Let’s not forget that an insurance policy is a contract. As with all contracts, there are terms and conditions. One of these is the settlement provision, which clearly states that the settlement is ACV until such time as the expenditure is incurred or a contract signed.
Judging from your statements and my own experience, I doubt very seriously that you were ever an employee of State Farm or any other major carrier.
What is up the lawyer’s sleeve. You get what you pay. Finley got the coverage they paid for. If they wanted coverage for the windstorm, they could have gone to the pool but did not, not willing to pay the extra premium.
It looks anything that goes wrong is the fault of the insurance industry. Then there is bad faith issue, non disclosure etc., etc. why are not there such legislation as covering the full defence cost if plaintiff lose?
10 years adjusting auto and property claims I have noticed a steady decrease in what the insurers are willing to pay, a steady increase in denials and micro management cutting estimates. I love the television Commercials about insurance fraud “inflating claims is fraud”. Insurers “deflate” claims on a daily basis – this is also fraud, but the insurers say deflation is an adjuster error, a poorly traned adjuster. I remember the training I sat through which focused on reducing average claims payout. One carrier manager actually told us to reduce average claims payout by 25% and every one woud receive a gain share bonus. That is bad faith and fraud!!!
HEY – I GOT A GREAT IDEA. JUST DO AWAY WITH ALL OF THOSE EVIL INSURANCE COMPANIES, AND EVERYONE CAN SELF INSURE. THAT WAY WE HAVE NO ONE TO BLAME BUT OURSELVES.
I’ve spent the past ten years in the insurance industry,in varying positions and with varying roles. The one thing that fails to change in this industry are the generalizations made from both sides of the fence – the consumer’s side and the insurance company’s side.
Yes, there are many examples of insurance companies who aren’t expeditious with their handling of claims…and some, unfortunately, who are downright dishonest.
However, there are many insurance companies who work hard and apply extreme diligence in ensuring the consumer receives what is owed and that the promise of the insurance contract is fulfilled.
The same exists however on that “other side of the fence.” Though the majority of all policyholders operate in good faith, there are those with moral and/or morale issues that result in claims of a padded and fraudulent nature.
In the end, regardless of the masses of legislation and lawsuits introduced, the variables that make up the landscape of insurance will continue to exist…at least to some degree.
My only hope is that one day we could all – consumers and insurers alike – stop the generalizations and the across-the-board bashings and instead focus on specifics, working to educate on another as opposed to wreaking havoc and fear.
The adversarial environment this type of behavior creates is simply of no benefit, to either side, regardless of what attorneys, your neighbor, or an insurance company representative might think!
We have updated our privacy policy to be more clear and meet the new requirements of the GDPR. By continuing to use our site, you accept our revised Privacy Policy.
Hurricane Isabel hit Maryland 14 months
ago. There are people with full coverage
still living in FEMA trailers. The stress
is terrible. Knowing you had plenty of
coverage and yet only receiving pennies.
See the site http://www.femainfo.us This site
was started by Steve Kanstoroom, a retired
fraud intestigator.
“…should have advised his clients of the availability of, and reasonable need to purchase, flood insurance.”
So now the insurance industry is not only obligated to completely indemnify insureds, but it must also completely think for them too??!!
Being so “down” on adjusting, and still doing it, reminds me of the story of the lady stranded on a desert island with two men. After a few weeks she became so ashamed of what she was doing she killed herself. After another few weeks the men became so ashamed of what they were doing they buried her.
I have adjusted property for 36 yrs. and have yet done anything I was ashamed of with an insured, or company. There have been some things I have refused to do.
I spent 28 years in the construction industry and 5 years as a full service agent before becoming an independent claim rep 10+ years ago.
In the past 10 years, I have worked almost exclusively for State Farm from one side of this great nation to the other.
It has always been understood that it was not our job to deny claims, but to look for ways to find coverage.
State Farm’s philosphy has always been to pay what we owe, but not more than we owe.
Let’s not forget that an insurance policy is a contract. As with all contracts, there are terms and conditions. One of these is the settlement provision, which clearly states that the settlement is ACV until such time as the expenditure is incurred or a contract signed.
Judging from your statements and my own experience, I doubt very seriously that you were ever an employee of State Farm or any other major carrier.
What is up the lawyer’s sleeve. You get what you pay. Finley got the coverage they paid for. If they wanted coverage for the windstorm, they could have gone to the pool but did not, not willing to pay the extra premium.
It looks anything that goes wrong is the fault of the insurance industry. Then there is bad faith issue, non disclosure etc., etc. why are not there such legislation as covering the full defence cost if plaintiff lose?
10 years adjusting auto and property claims I have noticed a steady decrease in what the insurers are willing to pay, a steady increase in denials and micro management cutting estimates. I love the television Commercials about insurance fraud “inflating claims is fraud”. Insurers “deflate” claims on a daily basis – this is also fraud, but the insurers say deflation is an adjuster error, a poorly traned adjuster. I remember the training I sat through which focused on reducing average claims payout. One carrier manager actually told us to reduce average claims payout by 25% and every one woud receive a gain share bonus. That is bad faith and fraud!!!
HEY – I GOT A GREAT IDEA. JUST DO AWAY WITH ALL OF THOSE EVIL INSURANCE COMPANIES, AND EVERYONE CAN SELF INSURE. THAT WAY WE HAVE NO ONE TO BLAME BUT OURSELVES.
Bubba has shown us the light !
THANKS SUPERJUSTER. I GUESS US GOOD OLE BOYS GET SOMETHING RIGHT ONCE IN A WHILEE !!! LOL :)
I’ve spent the past ten years in the insurance industry,in varying positions and with varying roles. The one thing that fails to change in this industry are the generalizations made from both sides of the fence – the consumer’s side and the insurance company’s side.
Yes, there are many examples of insurance companies who aren’t expeditious with their handling of claims…and some, unfortunately, who are downright dishonest.
However, there are many insurance companies who work hard and apply extreme diligence in ensuring the consumer receives what is owed and that the promise of the insurance contract is fulfilled.
The same exists however on that “other side of the fence.” Though the majority of all policyholders operate in good faith, there are those with moral and/or morale issues that result in claims of a padded and fraudulent nature.
In the end, regardless of the masses of legislation and lawsuits introduced, the variables that make up the landscape of insurance will continue to exist…at least to some degree.
My only hope is that one day we could all – consumers and insurers alike – stop the generalizations and the across-the-board bashings and instead focus on specifics, working to educate on another as opposed to wreaking havoc and fear.
The adversarial environment this type of behavior creates is simply of no benefit, to either side, regardless of what attorneys, your neighbor, or an insurance company representative might think!