So now it appears that the “Good Hands” people had their hands around our throats when they dropped everyone soputh of I-10. The state Insurance Commissioner has declared this an illegal act and has ordered them to pick us up. The other companies knew we were in a jam and jacked up their rates.
I called my ex-agent yesterday and she had the gall to claim SHE was the victim!

Anyone for a class action suit?

RiverRat - 05 March 2008 09:35 AM

So now it appears that the “Good Hands” people had their hands around our throats when they dropped everyone soputh of I-10. The state Insurance Commissioner has declared this an illegal act and has ordered them to pick us up. The other companies knew we were in a jam and jacked up their rates.
I called my ex-agent yesterday and she had the gall to claim SHE was the victim!

Anyone for a class action suit?

It’s ridiculous.  If you were unlucky enough to have hurricane damage, your insurance company drops you (maybe after not even paying your legitimate claim).  If you were unscathed, the insurance companies who were forced to pay out try to recover their losses by foisting increases on you.  Or worse yet, dropping your coverage completely...just because they could.

And to add insult to injury we have to read about insurers’ record gains in the years after such catastrophic losses.  I don’t know what’s going on or why nothing’s being done about allowing insurance companies to reap booming profits off the backs of their faithful clients.

I know if I was in the insurance business, I’d be embarrassed to work for such thieves.

-nab

Its certainly easier to steal money with a pen than a gun. Wasn’t Ben Brooks supposed to be working on insurance reform? He’s really been quiet on this one. Maybe the “good hands” have him by a certain part of his anatomy.

The insurance industry has hidden behind anti-trust legislation for far too long. They are more interested in profit than people. Congressman Gene Taylor- MS, has proposed multi peril insurance but it is now stalled in Washington.

Many insurance companies no longer write policies along the Gulf coast. I guess they don’t want to risk the losses they suffered in 2005 after Hurricane Katrina.

But wait! Property & Casualty insurers had profits of $65,000,000,000.00 in 2007, and $67,600,000,000.00 in 2006, but “only” $48,800,000,000.00 in 2005. Someone’s not being honest about the “losses” they supposedly suffered.

The Book of Proverbs is full of verses about honesty. These are from the Contemporary English version:
10:31 Honest people speak sensibly, but deceitful liars will be silenced.
11:1 [ Watch What You Say and Do ] The LORD hates anyone who cheats, but he likes everyone who is honest.
11:10 When honest people prosper and the wicked disappear, the whole city celebrates.
12:17 An honest person tells the truth in court, but a dishonest person tells nothing but lies.
14:5 An honest witness tells the truth; a dishonest witness tells nothing but lies.
14:25 An honest witness can save your life, but liars can’t be trusted.
16:8 It’s better to be honest and poor than to be dishonest and rich.
24:26 Giving an honest answer is a sign of true friendship.
28:12 When an honest person wins, it’s time to celebrate; when crooks are in control, it’s best to hide.
28:23 Honest correction is appreciated more than flattery.
29:4 An honest ruler makes the nation strong; a ruler who takes bribes will bring it to ruin.

There’s more, but you get the drift. My homeowner’s insurance bill has quadrupled over the last few years, and we have never filed a claim. Wasn’t it All State who sponsored the Sugar Bowl a year or two back? My kids are doing without, so that the All State people can have sky boxes at a football game, for heaven’s sake! Something’s wrong with that.

I feel sorry for the people in areas where insurance rates have went through the roof.  They will be hit with a double whammy, extremely high insurance premiums and fewer people intersted in the sale of their property.  I will soon be looking for a house to buy with insurance cost in mine.  Anywhere the insurance rates are too high, I refuse to look in that area.