BP Oil Spill Claims Chief Braces for Surge in Filings
N.Y. Regulator Issues ‘Cease and Desist’ Order to Car-Sharing Firm RelayRides
Tornadoes Spin Through Texas Towns After Dark, Killing Six
U.S., European Retailers Divided on Safety Plan for Bangladesh Factories
Government to Share Cyber Security Information with Private Sector
50 Top Apps for Independent Agents
Medical Liability Market Profitable But Deteriorating Results Expected: Fitch
Three Insurance Companies Placed in Liquidation in IllinoisFree Newsletters
Sign up to receive insurance news alerts!Most Popular
Current Issue
Editors and Contributors
-
Andrea WellsAgency Compensation Playbook: 2013 Agency Salary Survey -
Andrew G. SimpsonHow Process Improvement Drives Agency Profitability -
Stephanie JonesThe Acquisition Cycle -
Don JerglerIndustry Predictions -
Chris BurandReasonable Compensation -
Andrea WellsPersonal Lines: How Technology is Changing the Way Agents Do Business
All the computer software will never bring this company back from the dead.
POE SUCKS!
Is there something wrong with MSB?
Wow. That Brien guy seems smart. Sounds like he is really looking out for us Floridians. Someone should nominate him for some type of hero award…
Marty our State of Florida CFO thinks this is a “fine” company.
Considering Poe’s poor claim payment reputation, it seems that their policyholders will benefit from higher premiums and more under/unpaid claims.
I wonder how much Poe contributes to Mr. Gallagher’s campaign fund (no matter how much, it won’t get him elected governor)?
“Golly, I found Gomer’s pile!”
The “benefit” that insureds will receive of course is significantly higher premiums. If they are underinsured (and most Floridians are) then insurance to value is not a bad thing. However, if they generate significant increases it would appear this is more about trying to generate additional surplus. Increased values will result in increased premium.
The insurance to value issue is valid. Of course it generates additional premium to the carriers and more important commissions to Agents and Poe Insurance Managers. It is easy to slam Poe over many issues (lousy claims service etc, but this is not one of them.
Gomer, perhaps the increased limits of coverage will result in a higher dollar amount for claims paid. This should help an individual such as yourself in the future being that the fee for your wonderful service will be capped at 10% of the claim payment.
Poor claims service? Not according to the state. Sounds like a bunch of PA’s whining because Poe doesn’t just roll over on bogus demands which probably results in way higher premiums than any ITV program.
The issue at hand is insurance carriers trying to squeeze money from where ever they can. In todays real estate market any home can easily be valued / appraised at $300,000. But does this mean that in an event of a total loss this is what it would cost to repair it. A scale should be created to adjust for exorbitant real estate vales; i.e square footage x $60.00. Insurance coverage should not be based on current real estate values.
I don’t know what kind of house you expect to get at sq ft x $60. Probably without O&P. Not something that passes the new hurricane building code or something I want to live in.