That poor man. Wonder if he will be able to make do? Surprised they pay him anything based on the horrific way that company is run. With Allstate you are in very bad hands. I would not insure my dog\’s 5 year old worn out dog leash with Allstate.
My heart just bleeds for him. These jokers make so much money off of the backs of employees who work 50-60 hours a week and can barely make ends meet on their salary. I think all CEO\’s should be paid a realistic salary and bump up the salary on the employees who actually keep the wheels turning 24/7.
It\’s obvious any choice would have made people mad. Be glad his pay is going down and not up, as go most CEOs today. It\’s standard practice, stop complaining about EVERYTHING and look at the bright side of things.
After working in the [policyholder deceived] trenches during recent 2004 / 2005 storms in Florida and Texas, my suggestion to Mr. Liddy, and associates, is to set some aside for defending claims of intentionally deceptive claim settlement practices.
The (actuarial) evidence, based on synthetic construction procedures / claim values presented to claimants, is building guy\’s…and you may want to give Pilot Claim Service and MSB a heads up too…
Quote from a regulatory agency;
\”Premiums charged must not be excessive for the risks to which they apply.
Under a replacement cost policy, the liability limits of the policy and the PREMIUM PAID by the insured are DETERMINED ON THE BASIS OF the REPLACEMENT COST of the structure.
The VALUE of contractor´s overhead and profit, as well as sales tax on building materials, HAS BEEN INCLUDED IN the limit of liability for which the insured has paid premium.
If the insurer in determining actual cash value EXCLUDED COSTS that are INCLUDED IN the determination of liability limits, on which the insured´s premium is BASED, the insurer reaps an ILLEGAL windfall because the insurer receives premium on INSURABLE VALUES for which loss may never be paid.\”
-End Quote
Allstates 29% \”Contractor\” overhead and profit factor continually leaves out an additional 20% of the actual PROSPECTIVE Primary – General Contractor overhead and profit premium factored for the replacement of a structure.
Allstate claims that \’2-3 or more trades are needed before a General Contractor is \”required\”, or \’the damage is only to the [roof – fence – carpet], so we don\’t pay for General Contractor involvement\’ is quite the general public scam.
Premiums ALWAYS anticipate a Primary – General being involved in the replacement of a given structure. Partial losses do not take away, or diminish, PROSPECTIVE Primary – General Contractor [premium paid for] loss VALUES.
Collecting premium dollars for policy premiums / claim loss values that are not being fully disclosed to claimants, en masse, via adjusters, is a claim loss value shell game that is coming to a certain conclusion…
I\’m sorry, but despite the fact that poor Mr. Liddy has had to take a pay cut, I just can\’t sympathize with him. I was quite impressed years ago when the co-CEOs of Ben & Gerry\’s (ice cream co) stated that their incomes from the company would never exceed 17 times that of the lowest paid employee. THAT\’s how to run a company, both economically and ethically.
It\’s impossible to make everyone happy. As you see, people complain about cuts, and they complain about increases. That\’s just how it is, if you don\’t like it, buy stock and vote against it.
State Farm isn\’t a public company, so there\’s no way to know how they work.
That poor man. Wonder if he will be able to make do? Surprised they pay him anything based on the horrific way that company is run. With Allstate you are in very bad hands. I would not insure my dog\’s 5 year old worn out dog leash with Allstate.
Sounds like he\’s in good hands
My heart just bleeds for him. These jokers make so much money off of the backs of employees who work 50-60 hours a week and can barely make ends meet on their salary. I think all CEO\’s should be paid a realistic salary and bump up the salary on the employees who actually keep the wheels turning 24/7.
It\’s obvious any choice would have made people mad. Be glad his pay is going down and not up, as go most CEOs today. It\’s standard practice, stop complaining about EVERYTHING and look at the bright side of things.
His future looks bright to me
3-29-2006
After working in the [policyholder deceived] trenches during recent 2004 / 2005 storms in Florida and Texas, my suggestion to Mr. Liddy, and associates, is to set some aside for defending claims of intentionally deceptive claim settlement practices.
The (actuarial) evidence, based on synthetic construction procedures / claim values presented to claimants, is building guy\’s…and you may want to give Pilot Claim Service and MSB a heads up too…
Quote from a regulatory agency;
\”Premiums charged must not be excessive for the risks to which they apply.
Under a replacement cost policy, the liability limits of the policy and the PREMIUM PAID by the insured are DETERMINED ON THE BASIS OF the REPLACEMENT COST of the structure.
The VALUE of contractor´s overhead and profit, as well as sales tax on building materials, HAS BEEN INCLUDED IN the limit of liability for which the insured has paid premium.
If the insurer in determining actual cash value EXCLUDED COSTS that are INCLUDED IN the determination of liability limits, on which the insured´s premium is BASED, the insurer reaps an ILLEGAL windfall because the insurer receives premium on INSURABLE VALUES for which loss may never be paid.\”
-End Quote
Allstates 29% \”Contractor\” overhead and profit factor continually leaves out an additional 20% of the actual PROSPECTIVE Primary – General Contractor overhead and profit premium factored for the replacement of a structure.
Allstate claims that \’2-3 or more trades are needed before a General Contractor is \”required\”, or \’the damage is only to the [roof – fence – carpet], so we don\’t pay for General Contractor involvement\’ is quite the general public scam.
Premiums ALWAYS anticipate a Primary – General being involved in the replacement of a given structure. Partial losses do not take away, or diminish, PROSPECTIVE Primary – General Contractor [premium paid for] loss VALUES.
Collecting premium dollars for policy premiums / claim loss values that are not being fully disclosed to claimants, en masse, via adjusters, is a claim loss value shell game that is coming to a certain conclusion…
http://www.tdi.state.tx.us/bulletins/b-0045-8.html
P.S.
Mr. Liddy,
The New Mexico Claimant (Contractor OH&P ruling) is not a worry…The Judge was just needed some more info…
I\’m sorry, but despite the fact that poor Mr. Liddy has had to take a pay cut, I just can\’t sympathize with him. I was quite impressed years ago when the co-CEOs of Ben & Gerry\’s (ice cream co) stated that their incomes from the company would never exceed 17 times that of the lowest paid employee. THAT\’s how to run a company, both economically and ethically.
Didn\’t/Doesn\’t State Farm have some rule where the CEO cannot make more than the top agent in the company or something along that line?
I didn\’t know that about State Farm, but if it\’s true, I have a lot more respect for Stae Farm.
It\’s impossible to make everyone happy. As you see, people complain about cuts, and they complain about increases. That\’s just how it is, if you don\’t like it, buy stock and vote against it.
State Farm isn\’t a public company, so there\’s no way to know how they work.
People are happiest when they are young, and then when old…and unhappiest at about age 40
Ignorance truly is…bliss.