This litigation nonsense should bode as good news to the insurer’s bottom line. Their actuaries should be able to calculate adequate rates factoring in the litigation risk, and the required higher premiums should provide additional opportunity for the carriers to earn more investment return on premium/claim reserve finds
This could happen in any state. We fought this tooth in Kansas. I had to fight a public adjuster in North Carolina as well over the same issue. The Insurance Department helped in Kansas. The problem is not Texas, it is the attorneys, adjusters, and contractors who place their personal gain above all else.
You are right Crain. If you remember Katrina, State Farm had about 50,000 claims in Louisiana & Mississippi over the issue of Flood or Wind on claims. They had to settle a lot of those claims. In this case, they did the right thing and settled and then got sued for their trouble.
Love the passion of that juror. Ambulance chasing in the property world. Happens here in FL all day long on minor plumbing leaks, dripping faucets, etc. I’m sure this went to some worthless mediation where an uninterested mediator picked a number halfway in between the offer and a ridiculously high demand and highly recommended that both sides compromise. A complete waste of time and money and it took a few average citizens to call the plaintiff’s on their scam. Wish our judges had the same clarity and authority to do so. Good for SF for putting up the fight !
This litigation nonsense should bode as good news to the insurer’s bottom line. Their actuaries should be able to calculate adequate rates factoring in the litigation risk, and the required higher premiums should provide additional opportunity for the carriers to earn more investment return on premium/claim reserve finds
Texas just sucks so so bad.
This could happen in any state. We fought this tooth in Kansas. I had to fight a public adjuster in North Carolina as well over the same issue. The Insurance Department helped in Kansas. The problem is not Texas, it is the attorneys, adjusters, and contractors who place their personal gain above all else.
You are right Crain. If you remember Katrina, State Farm had about 50,000 claims in Louisiana & Mississippi over the issue of Flood or Wind on claims. They had to settle a lot of those claims. In this case, they did the right thing and settled and then got sued for their trouble.
Mr. Stolarski’s letter sure hit the nail on the head! I agree with Crain & Agent that it is a problem in every state.
Love the passion of that juror. Ambulance chasing in the property world. Happens here in FL all day long on minor plumbing leaks, dripping faucets, etc. I’m sure this went to some worthless mediation where an uninterested mediator picked a number halfway in between the offer and a ridiculously high demand and highly recommended that both sides compromise. A complete waste of time and money and it took a few average citizens to call the plaintiff’s on their scam. Wish our judges had the same clarity and authority to do so. Good for SF for putting up the fight !