PBS and Bloomberg Charges Against Insurance Companies Draw Fire

RE:PBS and Bloomberg Charges Against Insurance Companies Draw Fire

Roger — Sun, 09 Sep 2007 11:00:00 GMT

One major responsibility of home ownership is to maintain proper insurance coverage. One factor this article fails to consider is the insured's responsibility to take reasonable steps to ensure that he/she has enough coverage. As a claims adjuster with one of the companies mentioned in the article, the only instructions I have been given regarding adjusting claims is "do the right thing by the insured". I have never been asked to lie or withhold coverage. In fact it is quite the opposite.

RE:PBS and Bloomberg Charges Against Insurance Companies Draw Fire

Nikki — Wed, 29 Aug 2007 11:00:00 GMT

A consumers best recourse in all industries is to be educated. All homeowners policies (for any company I know of) states: "Examples of Losses Not Insured include: - Water damage caused by flood or underground water - Earth movement including earthquake and landslide - Damage caused by settling or collapse - ...Birds, rodents, insects, or domestic animals Your agent should review this, but it's YOUR responsibility to be informed, and it's not the company's fault if you aren't

RE:PBS and Bloomberg Charges Against Insurance Companies Draw Fire

Miss issippi — Wed, 29 Aug 2007 11:00:00 GMT

It's interesting. NOW pretty clearly said their report was about total loss claims. In his defense of the industry, Mr. Hartwig refers to paying out on "tens of millions of claims." There can't be tens of millions of total loss claims out there.

RE:PBS and Bloomberg Charges Against Insurance Companies Draw Fire

Anonymous — Mon, 27 Aug 2007 11:00:00 GMT

We had a barn roof collapse from a heavy snow load. The State Farm adjuster authorized expenditures to mitigate any further damage. After completing the reconstruction, I was informed that I did not have "COLLAPSE" coverage. My policy had "Snow Damage" coverage but not specifically collapse coverage. State Farm made the final payment but I feel strongly that had they come up with the lack of "Collapse" coverage before authorizing the reconstruction, they would have reneged.

RE:PBS and Bloomberg Charges Against Insurance Companies Draw Fire

anonymous — Mon, 27 Aug 2007 11:00:00 GMT

I have seen numerous times that State Farm has not paid. Do we have a "real " record of all the claims they have denied? If they do pay it is like pulling teeth. If they are the company that advertises in good hands they need to stop that.

RE:PBS and Bloomberg Charges Against Insurance Companies Draw Fire

Scott — Mon, 27 Aug 2007 11:00:00 GMT

On the home owners insurance different coastal areas of Florida rate differently for percentage of risk due to storms etc.. We live in the lowest risk area yet State Farm is now charging us as much as the higher risk areas we have never filed a claim. State Farm raised our home owners rate from $1,350.00 to over $2,800.00 a year. Then as with our auto insurance they find any way they can not to pay on valid claims.

Trent Lot is right we need a government department such as the SEC to make sure the insurance companies comply with policy's written and that they cannot over charge in areas like mine that has not seen any kind of storm damage for almost 100 years. When will the government protect us from profit greedy insurance companies? THIS MUST STOP NOW!

RE:PBS and Bloomberg Charges Against Insurance Companies Draw Fire

Scott — Mon, 27 Aug 2007 11:00:00 GMT

On our State Farm auto insurance they stopped paying medical payments while my wife was being treated. We did not even get close to depleting what was stated in our policy for medical. We had to sue State Farm and won! In our case they went out of there way to save money and to stop paying when my wife had not recovered. That's the kind of heartless insurance companies we pay a fortune to every year. When will we stand up and say enough?

RE:PBS and Bloomberg Charges Against Insurance Companies Draw Fire

David Purdy, CRS — Mon, 27 Aug 2007 11:00:00 GMT

Mr. Fernandez doesn't appear to really say anything, just slant the view and claim the individual cases cited by NOW et al don't represent the majority of 'satisfied' State Farm claimants. At the same time, his comments don't appear to deny the facts of the specific cases. But Mr. Hartwig, while not denying some points, is clearly implying that libel has been committed in others. Looks more like bluster than a legal threat, but does Bloomberg/PBS have an answer to his specific charges?