“It is illegal to exploit the state of emergency for personal gain,” Brown said. “Fires have ravaged communities across Southern California, and the state’s anti-price gouging law is now in full force. Anyone who tries to wrongfully profit from the suffering of others will be investigated by the California Department of Justice.”
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Presenting loss claim “adjustment” dollars (to claim naive claimants) that does not actuarially reflect the aggregate value a loss equals stealth “price gouging” no?
In other words, offering less than the actuarially/statically predetermined loss is worth mathematically underpays claimants, no?
In other, other words, when insurers/agents charge for limits of liability based on historical loss value norms and “adjusters” “adjust” loss values on-the-fly, is that fair?
Do anticipated loss values factored from the agents’ desk, that equal ones monthly “premium” payment, equal the loss values “adjusters” present to claimants at loss claim recovery time?
Claim Hawk put this three different ways and I still don’t understand the point he’s trying to make. Can someone translate what it is he thinks is being done wrong?
Nikola – you’re ignoring the word wrongfully. It’s not legal for the lawyers to go after them (even though lots do) but once the insured find the lawyers, they’re actions will likely be legal if unethical. And we can’t count all of those, such as the politicians, who my indirectly profit. 10% is actually a lot.
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“It is illegal to exploit the state of emergency for personal gain,” Brown said. “Fires have ravaged communities across Southern California, and the state’s anti-price gouging law is now in full force. Anyone who tries to wrongfully profit from the suffering of others will be investigated by the California Department of Justice.”
____________________
Presenting loss claim “adjustment” dollars (to claim naive claimants) that does not actuarially reflect the aggregate value a loss equals stealth “price gouging” no?
In other words, offering less than the actuarially/statically predetermined loss is worth mathematically underpays claimants, no?
In other, other words, when insurers/agents charge for limits of liability based on historical loss value norms and “adjusters” “adjust” loss values on-the-fly, is that fair?
Do anticipated loss values factored from the agents’ desk, that equal ones monthly “premium” payment, equal the loss values “adjusters” present to claimants at loss claim recovery time?
Gouging is a many splendid thing.
“Anyone who tries to wrongfully profit from the suffering of others will be investigated by the California Department of Justice”
Does this mean that lawyers & politicians will be investigated by the CA DOJ (sic)?
Claim Hawk put this three different ways and I still don’t understand the point he’s trying to make. Can someone translate what it is he thinks is being done wrong?
Nikola – you’re ignoring the word wrongfully. It’s not legal for the lawyers to go after them (even though lots do) but once the insured find the lawyers, they’re actions will likely be legal if unethical. And we can’t count all of those, such as the politicians, who my indirectly profit. 10% is actually a lot.