Agent Association Says Wash. Fair Conduct Act Bad Idea

May 21, 2007

  • May 21, 2007 at 1:51 am
    Patriot says:
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    Well Chisy baby has proven already that she is a lousy lawyer and when caught tries to blame an underling. Causing even more cost to the tax-payers..

    If the insurance companies simply ceased writing any new business for a month in this \”Progressive\” state maybe, just maybe her and her henchmen would have to rethink this bill. Opps that is an oxymoran!

  • May 22, 2007 at 12:33 pm
    Roger Poe says:
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    U.S. Grand Jury Subpoenas Allstate, Nationwide over Katrina Claims
    National News • May 21, 2007
    Allstate Corp. and Nationwide Mutual Insurance Co. have been subpoenaed by a federal grand jury investigating the insurance industry\’s handling of Hurricane Katrina claims in Mississippi, the …

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    Subject: Allstate & State Farm Dismissed Hurricane Rita Wind Damage
    Posted On: May 22, 2007, 11:04 am CDT
    Posted By: Roger Poe

    State Farm and Allstate/Pilot Claim Service \”adjusters\” told untold thousands of hurricane Rita victims in South East Texas that blatant wind/debris damage* to asphalt shingle roofing systems was \’not really\’ damage to shingles, and/or \’damage our engineers recognize\’.

    (Audio documentation of an upper level State Farm \”adjuster\”/manager explaining their Rita \”position\” is available).

    * 6-7 hours of wind borne debris being thrown at 90-100MPH+ against the outer [granule/bitumen] component of shingles, (which abrasive action can grind down the outer layer all the way down to the inner fiberglass mat), is NOT wind damage State Farm and Allstate \”recognize\”.

    Too, wind broke/lifted tar sealant bonds on shingles. Debris then shimmed up the shingles, and debris also stuck to the tar sealant bonds, making it impossible for the shingles to reseal, and leaving the home and inhabitants vulnerable to further harm.

    Again, State Farm and Allstate claimed that that those types of fiberglass shingle roofing system breakage \’is not damaged that they recognized\’.

    (As a side note, many of their loss claim \”offers\” (forgot) to include a basic sub-trade contractor overhead and profit valued line item of 29%, and many other claim estimates (forgot) to include a basic 49% primary/general contractor overhead and profit loss value).

    In other words, according to the Texas Department of Insurance,** both Allstate and State Farm are collecting in real dollars Subcontractor and Primary-General Contractor overhead and profit loss values from the general public, but are keeping that money since most people don\’t realize it is part of the value of their loss they have pre-paid for every month in Replacement Cost policies/premiums.

    ..And their \”adjusters\” comply with such practices.

    It also makes one wonder how the accountants juggle those windfalls?

    ** See Texas Department of Insurance Bulletin B0045-98 which describes primary/general contractor ovehead and profit values as being (financially/necessarily) factored into replacement costs of structures, and is pre-paid for by the general public, and IS TO BE DISCLOSED to claimants as part of the ACTUAL value of a [structural] \”loss\” dollars wise.

    Not doing so can create ILLEGAL windfall/profit.

    Collecting money from consumers for anticipated potential full loss/replacement costs of a structure, which premium dollar costs include the need for a primary/general contractor to replace the structure, and then leaving out/NOT DISCLOSING BASIC 20-49+ contractor overhead and profit costs in \”financially adjusted indemnificaion loss values\”, ALREADY ANTICIPATED, CHARGED FOR, AND COLLECTED, is theft of premiums, no?

    Dismissing/misrepresenting blatant roofing system wind damage, that is physically and factually nothing less than that, (and, oddly, previously recognized by Allstate & State Farm in other storms in the coastal states), to untold thousands of hurricane Rita victims in South East Texas/elsewhere, is intentional unfair trade practice, deceptive trade practice, and theft of premiums too, no?

    Public servants who recoginize, and actually address, serious large scale consumer issues should be commended.

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