“Insurers have been reporting robust profits for several quarters now, which reflects both an improved securities market and economic growth, resulting in fewer company failures compared to the numbers reported several years ago,” commented Melissa Gannon, vice president of Weiss Ratings Inc.”
Having seen various insurers – adjusters claim “estimates” since 9-16-2004 here in central Florida, it seems a mass consumer underpayment strategy is being played out on Florida hurricane victims by major and minor insurers.
1. Blatant and subtle roofing damage is being missed or ignored. Missing shingles are accounted for as the only physical form of damage to roofs. Wind driven debris scarring, bruising, granular component scouring, shingle delamination, cracking and debris shimmed shingle edges are being consistantly overlooked.
2. Heavy interior (ceiling – wall) damage is to be corrected by spraying the damage away with Kilz.
3. Adjusters line items that contain small areas for repair or replacement are costed out as if hundreds and hundreds of SF – SQ – LF – YDs, etc. work scope were being costed out. Adjuster notes of those line items being minimum cost values is missing.
4. Adjusters claiming their lowball “estimates” are equitable to the reconstruction processes and costs needed, when it is obvious to construction estimators and others that they are not.
5. “We can get it done for our price” used as an insurer – adjuster scare tactic to the homeowner or contractor to settle. Adjusters not allowing for a RANGE of business models / business model costs, allowed by premium payment values, is evident here.
6. Adjusters state or imply to clients that a Contractors fully formed estimate, contrasted with the adjusters understated -lowball “estimate”, is gouging the client.
7. Insurers – adjusters leaving out Contractors overhead and profit margins even if a Contractor has been hired. “We don’t pay (Primary – General – Roofing) Contractor overhead and profit towards estimated roofing costs in Florida”.
8. Adjusters claiming their estimated Contractor overhead of 10% is all that they “allow”. This one price fixing scheme alone is unfair to consumers and Contractors market base.
9. Sub-contractor overhead and profit (supposedly) accounted for in an adjusters “estimate” that is line itemed where Primary – General Contractor OH&P is usually accounted for, or in each sub-trades line item costs.
10. Adjuster estimated sub-contractor overhead and profit accounted for at 25% -29% and Primary – General Contractor OH&P accounted for at only 10% / 10%.
11. Property architectural and finish continuity issues being irrationally dismissed or explained away – dodged.
12. Clearly wind shifted boat houses being explained away as water damage. Wind shifted mobile home issues being explained away – dodged.
13. Zero returned adjuster calls. Or adjuster plays phone tag and “leave a message” games.
If certain insurers – adjusters continue to “close” hurricane victims claims with the 13 (apparently successful) claim “settlement” schemes mentioned above, certain insurers policyholder premium dollars, kept for themselves and their associates, may produce “robust” profits indeed.
-For consumer protection – research information purposes, we are interested in objectively reviewing policyholders Allstate, State Farm, Safeco, Farmers, Nationwide, Citizens, Foremost or other insurers hurricane – flood damage assessments, reconstruction processes and estimated cost reports.
If interested, please call 352-406-7155 or e-mail us at therdp5@yahoo.com .
Mr Poe sounds like a P/A Looking for work. But he fails to mention how the contractors like to juice up the estimates to cover deductibles, and any other items he promised his client. If everybody would write a fair and reasonable estimate, all the problems would go away.Start by using adjusters that have been around a long time, instead of college grads who do not have a clue about construction.
Mr Poe sounds like a P/A Looking for work. But he fails to mention how the contractors like to juice up the estimates to cover deductibles, and any other items he promised his client. If everybody would write a fair and reasonable estimate, all the problems would go away.Start by using adjusters that have been around a long time, instead of college grads who do not have a clue about construction.
Bob,
Contrary to your interesting comment, I’m not a public adjuster…(or an attorney).
And honest Contractor’s do not ‘juice up estimates to cover deductibles or other items promised to clients’. Honest Contractor’s steer people away from that kind, and other kinds, of insurance fraud.
I’m a G.C. that specializes in reconstruction work that revolves around eco-catastrophe events.
Accordingly, I (and others) consistently recognize insurers-adjusters underassessed property damage data “estimates” / “summarys” that clearly conflict with actual damage on a given structure.
We also track clearly (intentional or unintentional) unfair low balling practices-patterns of other flavors too.
Both seasoned or “green” adjusters “estimates”, (presented to reconstruction / damage forensics naive and trusting consumers), that do not reflect sound damaged property assessment conclusions and inherently sound reconstruction business estimation accounting, is quite abundant in Florida as of 1-31-2005.
There’s plenty of “re-estimation” work ahead here Bob. Write us. Or Call.
From the article…
“Insurers have been reporting robust profits for several quarters now, which reflects both an improved securities market and economic growth, resulting in fewer company failures compared to the numbers reported several years ago,” commented Melissa Gannon, vice president of Weiss Ratings Inc.”
Having seen various insurers – adjusters claim “estimates” since 9-16-2004 here in central Florida, it seems a mass consumer underpayment strategy is being played out on Florida hurricane victims by major and minor insurers.
1. Blatant and subtle roofing damage is being missed or ignored. Missing shingles are accounted for as the only physical form of damage to roofs. Wind driven debris scarring, bruising, granular component scouring, shingle delamination, cracking and debris shimmed shingle edges are being consistantly overlooked.
2. Heavy interior (ceiling – wall) damage is to be corrected by spraying the damage away with Kilz.
3. Adjusters line items that contain small areas for repair or replacement are costed out as if hundreds and hundreds of SF – SQ – LF – YDs, etc. work scope were being costed out. Adjuster notes of those line items being minimum cost values is missing.
4. Adjusters claiming their lowball “estimates” are equitable to the reconstruction processes and costs needed, when it is obvious to construction estimators and others that they are not.
5. “We can get it done for our price” used as an insurer – adjuster scare tactic to the homeowner or contractor to settle. Adjusters not allowing for a RANGE of business models / business model costs, allowed by premium payment values, is evident here.
6. Adjusters state or imply to clients that a Contractors fully formed estimate, contrasted with the adjusters understated -lowball “estimate”, is gouging the client.
7. Insurers – adjusters leaving out Contractors overhead and profit margins even if a Contractor has been hired. “We don’t pay (Primary – General – Roofing) Contractor overhead and profit towards estimated roofing costs in Florida”.
8. Adjusters claiming their estimated Contractor overhead of 10% is all that they “allow”. This one price fixing scheme alone is unfair to consumers and Contractors market base.
9. Sub-contractor overhead and profit (supposedly) accounted for in an adjusters “estimate” that is line itemed where Primary – General Contractor OH&P is usually accounted for, or in each sub-trades line item costs.
10. Adjuster estimated sub-contractor overhead and profit accounted for at 25% -29% and Primary – General Contractor OH&P accounted for at only 10% / 10%.
11. Property architectural and finish continuity issues being irrationally dismissed or explained away – dodged.
12. Clearly wind shifted boat houses being explained away as water damage. Wind shifted mobile home issues being explained away – dodged.
13. Zero returned adjuster calls. Or adjuster plays phone tag and “leave a message” games.
If certain insurers – adjusters continue to “close” hurricane victims claims with the 13 (apparently successful) claim “settlement” schemes mentioned above, certain insurers policyholder premium dollars, kept for themselves and their associates, may produce “robust” profits indeed.
-For consumer protection – research information purposes, we are interested in objectively reviewing policyholders Allstate, State Farm, Safeco, Farmers, Nationwide, Citizens, Foremost or other insurers hurricane – flood damage assessments, reconstruction processes and estimated cost reports.
If interested, please call 352-406-7155 or e-mail us at therdp5@yahoo.com .
1-10-2005
Mr Poe sounds like a P/A Looking for work. But he fails to mention how the contractors like to juice up the estimates to cover deductibles, and any other items he promised his client. If everybody would write a fair and reasonable estimate, all the problems would go away.Start by using adjusters that have been around a long time, instead of college grads who do not have a clue about construction.
Mr Poe sounds like a P/A Looking for work. But he fails to mention how the contractors like to juice up the estimates to cover deductibles, and any other items he promised his client. If everybody would write a fair and reasonable estimate, all the problems would go away.Start by using adjusters that have been around a long time, instead of college grads who do not have a clue about construction.
Bob,
Contrary to your interesting comment, I’m not a public adjuster…(or an attorney).
And honest Contractor’s do not ‘juice up estimates to cover deductibles or other items promised to clients’. Honest Contractor’s steer people away from that kind, and other kinds, of insurance fraud.
I’m a G.C. that specializes in reconstruction work that revolves around eco-catastrophe events.
Accordingly, I (and others) consistently recognize insurers-adjusters underassessed property damage data “estimates” / “summarys” that clearly conflict with actual damage on a given structure.
We also track clearly (intentional or unintentional) unfair low balling practices-patterns of other flavors too.
Both seasoned or “green” adjusters “estimates”, (presented to reconstruction / damage forensics naive and trusting consumers), that do not reflect sound damaged property assessment conclusions and inherently sound reconstruction business estimation accounting, is quite abundant in Florida as of 1-31-2005.
There’s plenty of “re-estimation” work ahead here Bob. Write us. Or Call.
therdp5@yahoo.com
(352)-406-7155