Public Adjusters appear to strongly oppose Assignment of Benefits (AOB). Like every insurer I talk to, they point to consumer mistreatment and warn claimants to avoid contracts assigning the benefits of their insurance policy to someone else. [Read more…]
The problem with an insurer rating agency that confirms the suspicions of those who don’t understand insurance is that it becomes the de facto standard. The Palm Beach Post, the Herald Tribune, The Tampa Times and reporters like Charles Elmore, Daniel Ruth, Jeff Harrington and others, have spread fear using bogus ratings from Jupiter based, Weiss Ratings, Inc. [Read more…]
I’m often critical of the Palm Beach Post. And, for good reason.
But…just because it far too often “gets it wrong” on property insurance, doesn’t mean I shouldn’t recognize when it gets it right on auto insurance. [Read more…]
Had a far ranging conversation recently with a friend and lobbyist regarding Florida’s domestic property carriers. He asked… “What can we do about agents that keep telling their clients domestic insurer’s are thinly capitalized?”
First, I reminded him that independent agents would never intentionally deride carrier’s in which they’ve placed clients. Makes no sense.
But, here’s the rub. [Read more…]
There’s a storm brewing! Widespread mistreatment of consumers by emergency remediators, mostly water extraction contractors and roofers, continues with no end in sight. Lured by the potential of huge payoffs with little chance of any consequences and enabled by Assignment of Benefits (AOB) they routinely kidnap the claim and leave premium payers with the ransom note. [Read more…]
Common ground was visible recently between public adjusters and insurer’s. A brief flicker, sure. But, it was there.
Sparked by an article from Dick Tutwiler, CPCLA, PCLA opining on coverage reductions for water losses, abuse of Assignment of Benefits (AOB) by water extraction companies and the unlicensed practice of public adjusting. [Read more…]
In an understandable attempt to close a painful chapter of ethical missteps, The Palm Beach Post editorial titled “Too much hot air in inflated homeowners market assessment”, gets it wrong….again.
And…AGAIN! [Read more…]
Last week you read of a hatchet job by the Palm Beach Post. Writer Charles Elmore was hell bent on connecting the rates and underwriting of Citizens with the international travel necessary to save $233 million on reinsurance premiums.
Anything favorable to Citizens, or the reinsurance deal it secured, was sullied with Elmore’s fact selection, the words he put in the mouths of others, sales puffery he cut/pasted from travel brochures and spa pictures downloaded from the internet.
Not a good day for journalism.