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Posted by tonyb on October 11, 1998 at 03:18:59:

Posted by Another Bob on September 30, 1998 at 09:50:44:


There appears to be a "jousting match" on this
web cite regarding insurance.. I was an agent for
many years. In all those years, I did see what was
and could have been insurance fraud by the policy
holder but I have also seen what was insurance
fraud by the insurance companies against the
policy holder and often with the blessing of the
insurance commissioners office since most receive
large sums of monies from insurance companies as
campain contributions in states that "elect" the
commissioner.. Keeping a "mental score", I have
seen where insurance companies are involved in more
fraud against the policy holders opposed to vice/versa. If that company is a stock company,they
must satisfy the stockholders, need I say more?
The C.E.O's must answer to stockholders also and
recently one just retired with a major insurance
company and heard thru the grapevine that due to his
lack of promised growth in company and some insider
trading where he made 5 million in less thirty days
off company stock, he was encouraged to retire. Face
it folks, they cannot make the money they do by being
honest with the policy holders and settling "all
legitimate claims" in a fair manner.. Of course, they
do not do this on a "wide scale" basis or would get
caught in so much bad publicity as to draw attention.
Take one geographical area and few claims, another
geographical another part of country here and there
so to speak and can save millions and millions.. Many
companies have the attitude, "take it or leave it" and
or take us to court!!.. Then can be tied up in court
for years at your expense if you can afford an
attorney in the interim period, they use that money
and make interest off of it until such time claim is
paid if paid at all.. Yes there are some good insurers
out there and some excellent hard working agents and
brokers not to mention well intentioned claims adjusters, however,if you do not "tow the line" you
might as well "pack your bags"!!. There are cute,
fuzzy slogans like, "just like a good neighbor",
" so and so company is "on your side" or, "your
in good hands" and so on and so on.. Many of the
best companies around are the ones you almost never
hear of and most likely do not waste policy holders
monies on excessive C.E.O. salaries, huge advertising
budgets etc and so on but fairly settle claims. I have
seen extreme waste in the past large insurer I worked
for in needless manuals, paperwork which was duplicative, waste on meetings being held at very
expensive hotels where local meetings would have
sufficed.. To all the honest agents, brokers and
excellent companies out there, congratulaions to you.
To the others out there of whom do not fit into this
category, shame on you for smearing the name of a
once proud industry.. To the arrogant agents and
adjusters of whom will go far in management with your
companies, how do you sleep at night???.

Bob C
Calif

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