Insurance Companies may have to actually pay claims, beg for sympathy.

[Scuba]

This shit makes me sick. The insurance industry is using one of the mouthpieces (Milwaukee Journal/Sentinel) to start laying the foundation for denied claims and rate increases. Not that I'm cynical, but I just don't trust those bastards.

http://www.jsonline.com/business/122809249.html



<snip>

The unusually large number of tornadoes and serious hail storms that have pounded a path of devastation across the Midwest and South this spring are buffeting the insurance industry as well.

Madison's American Family Insurance, Wisconsin's largest insurer of homes and cars, sells policies in Missouri as well. The Joplin tornado so far has produced more than 770 property claims and 735 auto claims for American Family. While a total damage estimate wasn't available, the company said it already has paid out more than $4.3 million to customers hit by the Joplin storm.

<end snip>


Scuba's got $5 that says you can't find a single homeowner in Joplin who's gotten a dime from American Family. Not that I'm cynical, but I just don't trust those bastards.

Did I mention that I don't trust those bastards?

[MrModerate]

1. Call the waaaaaaaaahmbulance! . . . wait:

You're not covered for emergency medical transport. Too bad for you.

Alternatively, have these ghouls never heard of reinsurance?

[Donnachaidh]

2. They have long histories of pulling this sort of shit after natural disasters

I do remember how they whined and carried on about actually paying out for Northridge earthquake damages. Wait until the full-bore tantrum hits -- they'll threaten to leave the state - at the same time making insurance for those who try to re-build in the damage area so expensive they cannot afford it. OR they will refuse to write new policies in the damage zone.

I worked for the Dept of Insurance for the state of California - and insurance companies will do virtually -anything- to keep from paying out. The state should watch for the smaller agencies who will close their doors in the dead of night and leave the state rather than pay claims. They do THAT, too.

[spin]

3. The insurance companies will just raise the rate in Florida ...

like usual the "experts" are predicting another bad year for hurricanes.

[digonswine]

4. I wonder-

Do they have any of their lobbyists minions petitioning for climate-control legislation? I doubt they can look that fr past their noses, though.