It\’s nice to see a company trying to get competitive without making up false replacement cost calculations (that don\’t require DOI approval) just to get their rates down by reducing coverage. Too many companies, who\’s rates are so uncompetitive, have to play with their RC and/or force their agents to fudge on usage on vehicles or simply reduce coverage to save rate. Those are the guys he should be going after. Oh, but wait a minute, we already know he doesn\’t care about the consumer. He just needs votes.
Following Garamendi\’s logic, if Hartford raised rates would he expect other carriers to also follow suit? Sometimes insurers act like lemmings, but that has not a particularly winning strategy.
Short term Enron type accounting / profiteering conduct worked out through collusive and underhanded claim handling conduct, can NOT be masked over by readjusting rates in California, Texas, or elsewhere.
In Texas, perhaps the TDI investigating and acting on how, and why, major insurers in Texas are openly dismissing TDI Bulletin B0045-98, will result in those ongoing actions against consumers being stopped, publicly announced, and publicly addressed.
Perhaps the TDI investigating, and acting on, why Allstate and State Farm feel that (hurricane Rita) wind debris abraised/damaged shingles granule surface and asphalt body components, and wind broken/debris contaminated asphalt shingle sealant bond components, \’is not shingle damage they recognize\’, in Southeast Texas, will result in reversing unjust loss claim assessments there, and elsewhere.
Shame on Allstate/Pilot Claim Service and State Farm for such indemnification and synthetic damage assessment doublespeak, and all that it means in jeprodizing the personal and financial safety of others.
It can only be imagined that California [consumers] and other regions are going through the same, or similar, type of illicit/illegal/unfair market conduct.
After all, if you can sweep through a catastrophe affected area, and promote a indemnification adjustment position based on a false damage assessment premise, and false reconstruction estimating methodologies, loss ratios are going to be visisbly affected/pushed downward.
Invisible contingent profit margins also, only pushed upward.
Mr. Garamendi,
Investigate / audit claims for the past 2-4 years alone. Then contrast those findings with the past 4 years before that. The claim handling/damage assessment/loss value payout conduct examination picture may explain why premiums are synthetically \”high\”.
Isn\’t it ironic that insurers that are confidently and intentionally underpaying claims, do so at (high) risk for charges of insurance fraud against consumers being brought against them?
And if (fiscally known/synthetically high) premium payments are requested from consumers by insurers, through the US Postal Service, is that yet another legal/consumer issue to consider?
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.
It\’s nice to see a company trying to get competitive without making up false replacement cost calculations (that don\’t require DOI approval) just to get their rates down by reducing coverage. Too many companies, who\’s rates are so uncompetitive, have to play with their RC and/or force their agents to fudge on usage on vehicles or simply reduce coverage to save rate. Those are the guys he should be going after. Oh, but wait a minute, we already know he doesn\’t care about the consumer. He just needs votes.
Following Garamendi\’s logic, if Hartford raised rates would he expect other carriers to also follow suit? Sometimes insurers act like lemmings, but that has not a particularly winning strategy.
7-1-2006
Short term Enron type accounting / profiteering conduct worked out through collusive and underhanded claim handling conduct, can NOT be masked over by readjusting rates in California, Texas, or elsewhere.
In Texas, perhaps the TDI investigating and acting on how, and why, major insurers in Texas are openly dismissing TDI Bulletin B0045-98, will result in those ongoing actions against consumers being stopped, publicly announced, and publicly addressed.
Perhaps the TDI investigating, and acting on, why Allstate and State Farm feel that (hurricane Rita) wind debris abraised/damaged shingles granule surface and asphalt body components, and wind broken/debris contaminated asphalt shingle sealant bond components, \’is not shingle damage they recognize\’, in Southeast Texas, will result in reversing unjust loss claim assessments there, and elsewhere.
Shame on Allstate/Pilot Claim Service and State Farm for such indemnification and synthetic damage assessment doublespeak, and all that it means in jeprodizing the personal and financial safety of others.
It can only be imagined that California [consumers] and other regions are going through the same, or similar, type of illicit/illegal/unfair market conduct.
After all, if you can sweep through a catastrophe affected area, and promote a indemnification adjustment position based on a false damage assessment premise, and false reconstruction estimating methodologies, loss ratios are going to be visisbly affected/pushed downward.
Invisible contingent profit margins also, only pushed upward.
Mr. Garamendi,
Investigate / audit claims for the past 2-4 years alone. Then contrast those findings with the past 4 years before that. The claim handling/damage assessment/loss value payout conduct examination picture may explain why premiums are synthetically \”high\”.
Isn\’t it ironic that insurers that are confidently and intentionally underpaying claims, do so at (high) risk for charges of insurance fraud against consumers being brought against them?
And if (fiscally known/synthetically high) premium payments are requested from consumers by insurers, through the US Postal Service, is that yet another legal/consumer issue to consider?
rogerpoegc@yahoo.com