Isabel, you state that you have not received what you paid for. If you purchased a Flood Policy and paid for it & the damage was caused by flood waters then by all means your flood claim should be paid! However, if you just purchased a home owners policy then of course flood is excluded. In that case wind damage should be paid. If you neglected to purchase a flood policy then you are most likely out of luck. Hope things work out for you. That is an awful experience to go through.
They will never be prosecuted.. especially if their allegations of fraud are upheld. Confidentiality agreements dont cover hiding violations of the law.
Correct me if I\’m wrong, but if the problem is with the NFIP, shouldn\’t you be mad at the Feds? I know the \”big insurance companies\” sell and service the policy, but they didn\’t design it, FEMA did.
The insurance companies are paid 3% of the estimate total for handling the claim, so wouldn\’t it be smarter to over pay? If the insurance companies are only in this for the money, it would only make sense, wouldn\’t it?
But then the Feds would be suing the insurance industry for overcharging FEMA, and I don\’t see that happening. FEMA is getting sued along with the insurance companies because the trial lawyers want you to think there is this cozy relationship between the Feds and insurance.
My boss taught me some thing some years ago:
To maintain power in a struggle, whether it\’s segregation, politics, or lawsuits, you have to divide and conquer. Keep those you have power over focused on the other side and you can get away with almost anything.
Thanks, Jay for your comments.
Here\’s what I have learned. Flood insurance is a myth and if you don\’t believe me, then ask the 90 families in Maryland who had it 3 long years ago who did not receive what they PAID for.
No one has rock concerts or benefits for us, no one is helping us build, and our insurance, the great Mutual of Omaha told us to sue. The shocking part is that no one really cared. Our house was torn down and they originaaly offered us $36,000. Yes, 36k. For a house.
Ok, so we sued. Let\’s see if there\’s any justice at all or if the big insurance companies will win again. This is not how things are supposed to work.
Keep in mind that we all purchased flood insurance. We did not ask for any charity or freebies.
We did what we were supposed to do.
In light of all the previous conversations posted here, it is abundantly clear that the industry needs and benefits from a system of checks and balances since the insurance companies appear to wield all of the power. Consequently, I remain remissed at all the venom spewed at us Public Adjusters on this website. For the most part, we strive to keep the insurance company adjusters honest.
No one,, least of all me believe that the insurance companies shouldnt make a profit…
Funny though how only the conclusions in these cases in particular always skewed towards the insurance company.
I can tell you in my personal case ( not with state farm ) I was initially paid 5500 on a total claim of 335,000. After spending nearly 5,000 of my own money to refute the insurance company\’s claims ….they agreed that there was substantial wind damage prior to water entering my home. We settled for just under half of the total policy value. In the end it was a fair payout… but the 5 grand of my money to prove them wrong is gone.
It\’s good to see your still around… dropping little tid bits to skew opinions.
Yes, State Farm IS named in this suit, along with 16 other insurers operating in Maryland. Let\’s not forget the nine independent adjusting firms, Computer Sciences Corporation, FEMA, the US Attorney General, and Maryland Insurance Commisioner, amoung others!
This is basically a shotgun blast by the trial lawyers to see what they can hit. \”Somebody\’s got to have done something wrong, and I bet we can get some money out of them!\”
Some insurance companies actually tried to help but not Omaha.
The sadist that handled most of the Maryland claims, went out of his way, and beyond his authority, to make all of our lives a living hell. He threatened to not pay a penny, require multiple estimates, demand letters from engineers, and county officials etc. He rejected every estimate we sent.It was a full time job to deal with the endless requests. No one at Omaha was interested in looking at the way this person was handling anything. He had free rein to badger all of us. The stress was unbearable and we will never be the same.
The flood was the least horrible part. Dealing with Mutual of Omaha was a nightmare. I don\’t know how that guy can live with himself. A lot of unnecessary human tragedy by one sick individual.
Please don\’t tell any of us that he was just doing his job. That\’s nonsense.
You have no idea.
Actually, don\’t the Carriers/Insurers (WYO\’S) that participate FEMA\’s National Flood Insurance Program take 30% of all NFIP premium dollars, and then receive an additional 3% for loss claim adjustments?
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Isabel, you state that you have not received what you paid for. If you purchased a Flood Policy and paid for it & the damage was caused by flood waters then by all means your flood claim should be paid! However, if you just purchased a home owners policy then of course flood is excluded. In that case wind damage should be paid. If you neglected to purchase a flood policy then you are most likely out of luck. Hope things work out for you. That is an awful experience to go through.
They will never be prosecuted.. especially if their allegations of fraud are upheld. Confidentiality agreements dont cover hiding violations of the law.
Isabel,
Correct me if I\’m wrong, but if the problem is with the NFIP, shouldn\’t you be mad at the Feds? I know the \”big insurance companies\” sell and service the policy, but they didn\’t design it, FEMA did.
The insurance companies are paid 3% of the estimate total for handling the claim, so wouldn\’t it be smarter to over pay? If the insurance companies are only in this for the money, it would only make sense, wouldn\’t it?
But then the Feds would be suing the insurance industry for overcharging FEMA, and I don\’t see that happening. FEMA is getting sued along with the insurance companies because the trial lawyers want you to think there is this cozy relationship between the Feds and insurance.
My boss taught me some thing some years ago:
To maintain power in a struggle, whether it\’s segregation, politics, or lawsuits, you have to divide and conquer. Keep those you have power over focused on the other side and you can get away with almost anything.
Thanks, Jay for your comments.
Here\’s what I have learned. Flood insurance is a myth and if you don\’t believe me, then ask the 90 families in Maryland who had it 3 long years ago who did not receive what they PAID for.
No one has rock concerts or benefits for us, no one is helping us build, and our insurance, the great Mutual of Omaha told us to sue. The shocking part is that no one really cared. Our house was torn down and they originaaly offered us $36,000. Yes, 36k. For a house.
Ok, so we sued. Let\’s see if there\’s any justice at all or if the big insurance companies will win again. This is not how things are supposed to work.
Keep in mind that we all purchased flood insurance. We did not ask for any charity or freebies.
We did what we were supposed to do.
In light of all the previous conversations posted here, it is abundantly clear that the industry needs and benefits from a system of checks and balances since the insurance companies appear to wield all of the power. Consequently, I remain remissed at all the venom spewed at us Public Adjusters on this website. For the most part, we strive to keep the insurance company adjusters honest.
.
.
http://www.femainfo.us
http://www.femainfo.us/Links/Complaint.final.htm
No one,, least of all me believe that the insurance companies shouldnt make a profit…
Funny though how only the conclusions in these cases in particular always skewed towards the insurance company.
I can tell you in my personal case ( not with state farm ) I was initially paid 5500 on a total claim of 335,000. After spending nearly 5,000 of my own money to refute the insurance company\’s claims ….they agreed that there was substantial wind damage prior to water entering my home. We settled for just under half of the total policy value. In the end it was a fair payout… but the 5 grand of my money to prove them wrong is gone.
Roger P.,
It\’s good to see your still around… dropping little tid bits to skew opinions.
Yes, State Farm IS named in this suit, along with 16 other insurers operating in Maryland. Let\’s not forget the nine independent adjusting firms, Computer Sciences Corporation, FEMA, the US Attorney General, and Maryland Insurance Commisioner, amoung others!
This is basically a shotgun blast by the trial lawyers to see what they can hit. \”Somebody\’s got to have done something wrong, and I bet we can get some money out of them!\”
Some insurance companies actually tried to help but not Omaha.
The sadist that handled most of the Maryland claims, went out of his way, and beyond his authority, to make all of our lives a living hell. He threatened to not pay a penny, require multiple estimates, demand letters from engineers, and county officials etc. He rejected every estimate we sent.It was a full time job to deal with the endless requests. No one at Omaha was interested in looking at the way this person was handling anything. He had free rein to badger all of us. The stress was unbearable and we will never be the same.
The flood was the least horrible part. Dealing with Mutual of Omaha was a nightmare. I don\’t know how that guy can live with himself. A lot of unnecessary human tragedy by one sick individual.
Please don\’t tell any of us that he was just doing his job. That\’s nonsense.
You have no idea.
Mark,
Actually, don\’t the Carriers/Insurers (WYO\’S) that participate FEMA\’s National Flood Insurance Program take 30% of all NFIP premium dollars, and then receive an additional 3% for loss claim adjustments?
Sounds like a pretty lucrative deal…
rogerpoegc@yahoo.com