Calif. Aims to Speed Wildfire Claims, Prevent Price Gouging
West News • October 25, 2007
In anticipation of an onslaught of severe insurance claims resulting from the Southern California wildfires, state Insurance Commissioner Steve Poizner has issued an emergency declaration to help ...
Insurance Journal is not responsible for the content of the message below.
Subject: Reverse Gouging - Synthetic Loss Claim Values
Posted On: October 26, 2007, 12:15 am CDT
Posted By: ClaimHawk
Comment:
"It is illegal to exploit the state of emergency for personal gain," Brown said. "Fires have ravaged communities across Southern California, and the state's anti-price gouging law is now in full force. Anyone who tries to wrongfully profit from the suffering of others will be investigated by the California Department of Justice."
____________________
Presenting loss claim "adjustment" dollars (to claim naive claimants) that does not actuarially reflect the aggregate value a loss equals stealth "price gouging" no?
In other words, offering less than the actuarially/statically predetermined loss is worth mathematically underpays claimants, no?
In other, other words, when insurers/agents charge for limits of liability based on historical loss value norms and "adjusters" "adjust" loss values on-the-fly, is that fair?
Do anticipated loss values factored from the agents' desk, that equal ones monthly "premium" payment, equal the loss values "adjusters" present to claimants at loss claim recovery time?
Gouging is a many splendid thing.
West News 
Subject: Reverse Gouging - Synthetic Loss Claim Values
____________________
Presenting loss claim "adjustment" dollars (to claim naive claimants) that does not actuarially reflect the aggregate value a loss equals stealth "price gouging" no?
In other words, offering less than the actuarially/statically predetermined loss is worth mathematically underpays claimants, no?
In other, other words, when insurers/agents charge for limits of liability based on historical loss value norms and "adjusters" "adjust" loss values on-the-fly, is that fair?
Do anticipated loss values factored from the agents' desk, that equal ones monthly "premium" payment, equal the loss values "adjusters" present to claimants at loss claim recovery time?
Gouging is a many splendid thing.