Sep 21, 2010
Sep 20, 2010
Sep 19, 2010
Insurance Companies Exempt from Nation's Anti Trust Laws
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| Insurance Companies Exempt from Nation's Anti Trust Laws |
| ShareThis From price-gouging to collusion, the insurance industry can operate in a manner that no other financial service sector can. No bank, no investment house, no financial broker. The fact of the matter is that the total number of federal regulations that apply to the insurance industry isO. The insurance industry is only one of two industry's that the nation's laws exempt from our federal anti-trust legislation. The other sector is professional baseball. While baseball is an American favorite past time, the sport does not play a role in securing a bank loan to purchase a home or business nor whether our financial and real assets are protected in the event of fire, theft, earthquake, blizzard, tornado, hurricane, mudslide, or other event. Coastal America's Homeowner Insurance Crisis |
Evidence of Insurance Companies Defrauding the National Flood Insurance Program (NFIP)
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| Evidence of Insurance Companies Defrauding the National Flood Insurance Program (NFIP) |
| ShareThis [Click here to read the 24 documents that document Evidence of Fraud by Insurers Handling Katrina Losses With Both Wind and Flood Damage.] After a major hurricane such as Katrina, there are hundreds of thousands of properties where it is not possible to clearly distinguish the wind damage from the flood damage. The wind/water controversy comes down to a classic question of who pays. Private insurance companies collect premiums to cover wind damage to property. The National Flood Insurance Program (NFIP), an American taxpayer subsidized progam, covers flood. Every legal precedent in every state and federal court places the burden on insurers to prove that property damage is excluded before insurers can deny coverage to its policyholders.Under the prior administration, however, the NFIP maintained weak oversight. Insurers took advantage of that fact and shifted the burden of proof away from themselves and onto the shoulders of America's home and business owners. As a result, insurance companies blamed all of the hurricane's wind and water damage on the flooding alone. Then they denied the wind-damage claims of their own policyholders unless homeowners could prove that their property damage was caused by wind alone. Private insurance companies billed the federal taxpayers--via the NFIP-- for all damage where flooding was at all possible while paying wind claims only where wind was the only possible cause. In every case, the benefit of the doubt favored the insurance company at the expense of taxpayers and homeowners, while NFIP did nothing to protect either.
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Sep 18, 2010
Sep 17, 2010
Sep 16, 2010
Sep 15, 2010
State Farm Insurance - From Fort Lauderdale, Fl — 08/21/2010 State Farm has been a great opportunity for me and many others on the agency side. We don’t work in the corporate offices but work in smaller offices throughout the country. Life all jobs you have to want to
Bullshit, bullshit, bullshit. This company sucks. This is another corporate goon trying to make up a 'great' review"
Sep 14, 2010
Sep 13, 2010
Is There a Legal Difference Between "Bad Faith" and a Lack of Good Faith in Insurance Contracts? : Property Insurance Coverage Law Blog
Is There a Legal Difference Between "Bad Faith" and a Lack of Good Faith in Insurance Contracts? : Property Insurance Coverage Law Blog
Last week, Shaun Marker brought up the case of Chalfonte Condo. Apartment Assoc., Inc. v. QBE Insurance Corp., 561 F.3d 1267 (11th Cir. 2009), in his post titled Enforceability of Large Hurricane Deductibles in Florida. As indicated by the title, Shaun’s post focused on the issue of enforceability of hurricane deductibles, which was only one of the issues appealed in Chalfonte. This week, I would like to continue Shaun’s exploration of Chalfonte, but turn your attention to another issue in that case: the implied warranty of good faith and fair dealing."
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(271) Twitter / Home
State Farm Employee Paul Georgopulos (Steve Georgopulos State Farm, Westmont, IL) is harassing me on my website: http://bit.ly/aXJPtW"
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