I didn\’t know what \”exclusion\” meant because it was not in plain english. I would have understood if it had said \”ya aint covered for damages caused by water coming from outside of ya house\”.
I invented the term \”exclusion\” and I intended it to be ambiguous. This way when global warming devastates the seaboard of the US – people who didnt pay for this coverage will get it free anyway-kind of like solar power. Im such a freaking jeanyus!
If you don\’t know what an exclusion is what in the hell are you doing in the senate?
Exclusion: that what you have done to us taxpayers! Excluded us from the same type of retirement benefits you receive without paying a nickel! Excluded us from superior healthcare like you receive!
What do you need plain language for? Hurricane Katrina never happened, just like other events that I don\’t want to think about. Now give me some more hostages so I can humiliate the brits.
I wonder if the Senator ever thought why policies are written in \”Legaleeze\”? Does he know that any ambiguity is settled in favor of the insured? Has he ever seen Insurance companies posting world record profits? I don\’t think so. His ill considered legislation is a shame. Too bad he can go after the Gas Companies where the real money and price gouging is.
Hummm – Can you say POLICY CONDITIONS – Give me a break – if the people don\’t know what their policy covers – slapping it on the declarations page isn\’t going to help – Can you say… READ YOUR $y#* POLICY? If you don’t “understand it” then ask your Insurance Professional for help – – – Most insurance polices are written to be understood by a person of \”average intelligence”, – obviously Mr. Lott doesn\’t fall within this category…
…as long as the laws that Lott and his colleagues write have the same clear and unambiguous cover-letter stating what the laws do and do not do, who they do and do not apply to, when they do and do not apply, and who they do and do not benefit and to what degree.
When legislators get to the point they can do this, they will then have earned the right to insist that others do the same.
Maybe we could just do away with comprehensive policies and have only named peril policies, that way if the peril is not named, it\’s not covered. Make the covered peril language very specific, exclusions not needed.
Aw shucks, that would be just too simple.
all ah know iz there aint no ways dem insurer companeez can fit all dem xclooshuns on de front of ma pallicee. So, day will haf ta deside witch wons dey want to keep; ya kno, da wons dats most valuabul to dem, an let de odders go cuz day wont gonna fit dem all on dat won page.
Seez, dis iz part of my jeanus plan to forse carrierz to cuver more dan day do now, an I will make shur we make law dat dont let dem raise any rates on us, eder. Lets just see dem try an fit all dem xclueshunz on dat one page; it will haf to be a pretty big dag gum page, iffin ya know whut ah meen.
This trikin printin thingamajig reminds me of how polarized we are, we gots the pro-water flood insurers against the pro-winddamage pay me cuz I had insurance folk; it reminds of of the wal-mart vs union, Iraq war vs surrenderers, vegietariens vs carnievors, and even right vs left…Trent vs not Trent…even
reminds me of government; gridlock that is; you got the reds hatin\’ the blues, and the blues hatin\’ the reds; dat\’s why nuttin\’ gets done in Washington; it\’s like the big fish and the little fish; the big fish wants to eat, and the little fish wants to eat, but the big fish wants to eat the little fish, and the little fish doesn\’t want to be eat. See, that\’s like government. What we need is universal flood coverage; put a $500k cap on it, but a 15% deductible; that way you makes flood people take responsibility for some of their loss, but you can provide coverage to the really well off people like me who need extra coverage for their beach property. That, and we should tax gas 50 cents per gallon on top of the current taxes to balance the budget. Then you make the print real small, except fir dat first page, yaz make it\’z real big and people justs reads dat page and dey stop right dare.
That term sounds simple enough to me? I guess big words like \”exclusion\” are too difficult for the Senator? Why, yes Senator, noncoverage disclosure makes so much more sense. Thank you for clarifying.
….why Senator Lott has problems with the convoluted legalese of the \”Simplified\” Homeowners insurance policies now in use. He got his law degree from the University of Mississippi (see his bio)!!!
Dubya don\’t talk too good. Daddy\’s VP can\’t spell potato\”e\”. Barbara is pushing reading is fundamental.
I say while we are all following Dubya\’s advice and putting \”food on our families,\” we throw some on our insurance policies too. Maybe we\’ll actually read a few of the words while we are gobbling them all down before we lose our sight to obesity and Type II diabetes-induced blindness.
Gee, do we see some clues here about the state of our nation? Nah!! Hey, the big NCAA game is on–pass me a beer…maybe I can forget all these troubles…
really, really big paper. The honorable
Senator Lotts idea will revolutionize our
paperless society such that we will be
paperful. Once all exclusions are listed in bold print on the front page, and I assume he means the declaration page, we\’ll need a truck to bring it from the mailbox to the home office. Won\’t the necessary tree eradication program add to Gorebal warming?
Lott should stick to apologizing and grovelling for forgiviness because of his Strom Thurmond comment. He\’s too dangerous to do more important things.
Maybe there is an upside to this…. What is \”clearly\” stated as excluded can no longer be determined by a court as \”ambiguous\”!! If a federal legislation requires this, how can any state judge disagree and overrule a coverage question?
Lott is mad at State Farm because he couldn\’t get them to pay for something when Ol\’ Slick Willy got State Farm to pay defense in the Paula Jones lawsuit, even though everyone, including Lott, knew there was no trigger, and probably really wasn\’t even a policy in force since Bill & Hill had no underlying coverage. They stuck it to you Lott Ol\’ boy, they must be Clintonite Democrats at State Farm and now you\’re trying to stick it to us!
Can anyone at the NFIP tell Mr. Lott what constitutes a flood under the program? What Law School did this clown graduate from?
Be careful, nine judges said that your right to be protected from ilegal seizure of your property by the government wirtten in to the Constitution REALLY didn\’t mean that, it only meant you are protected AS LONG AS your property can not generate more tax dollars…
HI, I\’m Big Bird. Reading is fun. If you remember, my nest was blown away by a nasty hurricane a few years back. But my friends stuck with me, and I pulled thru.
It wasn\’t easy. I had many anxious days. Waiting for the adjuster to come out was nerve wracking.
But you know what really pulled me thru?
Being a bird, many underestimate my intellectual side. I\’m not quite Mensa, but I did learn something several years ago:
TO READ!!!!!!
THAT\’S RIGHT; I READ THE FRAKIN\’ POLICY; I MADE SURE THERE WERE NO EXCLUSIONS IN MY COVERAGE THAT WOULD PREVENT MY NEST FROM BEING COVERED. i BOUGHT FIRE, WIND, EARTHQUAKE, AND HURRICANE COVERAGE. I EVEN GOT COVERAGE FOR GROUND SUBSIDENCE, NOT SURE WHY I NEED THAT, BUT IF THE GROUND SINKS AND AL CAPONE\’S VAULT TURNS UP, I\’M COVERED. HAD I BEEN STUPID ENOUGH TO ATTACH MY NEST TO A BASEMENT, YOU CAN BET YOUR SWEET BIPPY I WOULD HAVE OBTAINED FLOOD COVERAGE. BUT HEY, I\’M JUST A BIRD, I FIGURED IT OUT, BUT THIS IDIOT OF A SENATOR CAN\’T FIGURE OUT HOW TO TIE HIS OWN SHOESTRINGS WITHOUT LOOKING AT POLLING DATA FIRST, AND HE\’S GONE AND FIGURED OUT THE AVERAGE AMERICAN IS TOO STUPID TO READ THEIR OWN POLICY. THEY THINK IF IT GOES BAD, THEY CAN APPEAR ON OPRAH AND SHE\’LL MAKE IT ALL BETTER. HEY, OPRAH\’S MAKING SCHOOLS IN AFRICA. TAKE CARE OF YOUR OWN BACK YARD. OH MY GOSH, INSURANCE COMPANIES ARE MAKING PROFIT, WHAT ON EARTH WILL I DO? I SHOULD COMPLAIN BECAUSE I WASN\’T SMART ENOUGH TO GET PROPER COVERAGE. TALK ABOUT CRYING WOLF, I CALL IT CRYING STUPID. GET COVERAGE, ASK WHAT YOUR ARE GETTING; ASK WHAT IT COVERS, ASK WHAT IT DOESN\’T COVER; TRY PAYING FOR IT AND READ THE POLICY.
IF YOU WANT TO BECOME DEPENDENT ON OTHERS TO TAKE CARE OF YOU, MOVE TO A SHELTER, BUT QUIT WHINING ABOUT HOW UNFAIR IT WAS THAT YOU DIDN\’T READ THE POLICY, THAT YOU DIDN\’T THINK THE WATER COULD RISE LIKE THAT, THAT YOU DIDN\’T THINK IT WOULD HAPPEN TO YOU. YOU CAN GET YOU HEAD ABOVE SEA LEVEL AND SEE THE SUNLIGHT, OR YOU CAN CHOOSE TO KEEP YOUR BRAINS IN HIDING BEHIND YOUR TIN FOIL HATS AND WHINE THAT IT ISN\’T FAIR.
I would like to know what Senator Lott thinks about banking disclosure requirements and if he can understand the legalese attached to his credit card bill?
Where was he on that issue, financial matters that effect consumers on a daily basis?
Agreed…I have read many commercial and personal lines policies, and have yet to find one that is more difficult to understand than a credit card agreement. Talk about fine print…the entire credit terms are in print that I cannot read without a magnifying glass. Even then, it makes very little sense. How about a disclaimer in double size bold print on them?
Great idea, and not surprized that the Industry wants to fight this one.
Evidence that we need to implement State Regulations, because there are no Regulations that protect the Insured or the Agent from betrayal or deception.
However, if the proposed Insured reads the policy and understands that they are paying for Insurance but the policy does not provide financial protection for anything that could possible destroy their home, with the exception of fire.
No One Would Buy The Policy! That\’s why the Insurer does not want to explain/expose the truth to the Insured.
The way the policy is written has made tons of money for the Insurer, since the beginning. Ignorance of he Insured.
In the end, they don\’t want to be exposed for selling Insurance without coverage.
Trent Lott is on their trail like a blood hound.
Good Work, Senator,Keep it up because we need more Senators like you.
Perhaps one day we will be able to buy an Honest, Fair Policy.
After all, this is America.
Whoa, Kim, hold up. Even the ISO basic causes of loss form covers fire, lightning, explosion, windstorm or hail, smoke, aircraft or vehicles, riot or civil commotion, vandalism, sprinkler leakage, sinkhole collapse and volcanic action. There are limitations, but pretty sure we cna safely say that there is coverage for more than just damage by fire.
Most policies are written by regulators and changed by regulators. That\’s what makes it so difficult to read, along with trying to write policies to address so many different state regulations. If it could all be placed on one page, it would be. The idea sounds great but it\’s simply ludicrous and will lead to more litigation. So, if it’s not on the first page, then what? We can’t write policies longer than a page because it wasn’t summarized on the 1st page and so we can’t depend upon it. We’ve become a nation of cry babies and whiners. Nothing is ever our fault or responsibility. And the rest of the nation should pay for you to rebuild on a flood plane, the side of a mountain that’s going to slide, an earthquake prone area. This is your economic future; pay some attention to it and stop whining and expecting everyone else to pay for your mistakes. Lott is a wealthy man who had a home on the beach. He didn\’t know it could flood? Why didn\’t he buy flood insurance, including an excess policy for the value above $250K? Because he didn\’t want the expense and his brother-in-law could sue and make you feel sorry for a super wealthy man who is whining.
As recently outlined on 48HRS:
> Tired of constantly being broke and stuck in an unhappy marriage, a young
> man decided to solve both problems, by taking out a large Insurance Policy
> on his wife, with himself as beneficiary, and arranged to have her killed.
>
> A \”friend of a friend\” put him in touch with a nefarious underworld figure
> who went by the name of \”Artie\”. Artie explained that his going price for
> snuffing out a spouse was $5,000.00 The husband agreed to the amount,
> explaining that he would not have any cash, until he collected his
> Insurance money. Artie insisted on being paid something up front. The
> man opened his wallet displaying a single dollar bill. Artie rolled his
> eyes, and reluctantly agreed to accept the dollar as downpayment for the
> dirty deed.
>
> A few days later, Artie followed the man\’s wife to the Wal-Mart store.
> There, he surprised her in the produce department and strangled her with
> gloved hands. As the poor unsuspecting woman drew her last breath and
> slumped to the floor, the produce manager rounded the corner. Unwilling
> to leave any witness behind, Artie had no choice but to strangle the
> produce manager as well.
>
> Unknown to Artie, the entire incident was captured by hidden cameras and
> observed by the store security guard, who immediately called the police.
> Artie was apprehended before he could leave the store. Under intense
> questioning at the police station, Artie revealed the sordid plan,
> including his financial arrangements with the husband.
>
> The next day, the Post headlines declared……….
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> SCAN DOWN VVVVVVVVV
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> \”ARTIE CHOKES TWO FOR A DOLLAR AT WAL-MART\”
Lets make the policy cover everything for everybody everytime. Since we\’ll never have to tell a client their loss won\’t be covered we\’ll enjoy a stressfree existence, not to mention a four fold pay raise when those nasty insurers charge what is necessary for an all risk, all peril policy. If the contracts arent worth the paper they are written on, lets dump them along with the attorneys who fight over them. No need for attorneys any longer – whats to fight about?
You got it. Not only do Insurer\’s not want to insure for Catastrophic events most likely to occur but they don\’t want the Feds or State Gov\’t to offer any either. For example, Insurer\’s are opposed to Missouri legislation allowing for a Cat Fund to protect consumer against insurer insolvencies. Bottom line. . . consumers that make the wrong choice on insurers is S.O.L. Not every insurer is admitted and even if they are the guarantee fund is like having a bad insurance company with the motto, \”slow pay and maybe no pay\”
sounds like there is a groudswell of support for the new, Oprah EZ Reader/EZPAY Policy. It\’s so easy, even a dead caveman could do it. You simply find any agent: Auto, health, life, home, secret/covert, and offer to pay what you think you should for the coverage you want to have. There you have it- Your covered! Best of all, you only have to offer to pay; you can withhold payment until the END of the policy period, that way, if you\’re not satisfied 100%, you don\’t pay a dime!
Why should you pay AHEAD of time for insurance you hopefully won\’t have to use?
By simply completing the one page application and affidavit of ingratiation, you now have auto, home, health, and life coverage; you get to pick! And best of all, if you don\’t get paid for your claim to your satisfaction, you don\’t have to pay your premium!!!!!!!
\”ah wish ah had heard about dis Orpah EZ Reedin\’ palicee before ah had me little mishap with mah beech propertee…best of all, ah dont haf ta pay a dime iffin\’ ah aint compleetlee satisf, satisz, sats; uh, happy with the dag gum thing\” T.L., anonymous elected official, MS.
I am in the process of inventing a place called fantasy land _(I came up with this idea during a trip to Disneyland when I was a small child and suggested it to Walt and he ran with it)in this land Kim David will be my dictator of insurance. We will mandate the OprahEZ policy as the standard and we will use only recycled government documents from the rose law firm as our paper and sunlight and a magnifying glass to inscribe the plain english discriptions of the non covered events.
The ole bait & switch? Why are you people so defensive because a Senator is asking for the explanation of benefits to be written where the Insured can clearly understand what you are selling them, without deception.
You are guilty as sin because you are hiding the facts from the people that you want to trust you!
You also reversed it when they sued you.
You say they are trying to get something for free and they are not entitled to benefits because the policy did not include wind damage for a hurricane.
If you would not have deceived them, they would & could not have sued, muchless won.
Lick you wounds and move on because you will never win because it is you that deceived people. Your Own Clients too!
Thanks to Katrina, we now know that there is no such thing as Hurricane Insurance but you still want them to pay the extra hurricane deductible or charge more without it.
You Greedy, Greedy Grandmas!
What? A simple typo get under your skin? Or was it the idiot part? Come on.. If YOU\’RE so smart and disagree with me, say something in response to the content of my comment. BUTT HOLE!!!
Your approach is condenscending to the majority of consumers and you obviously are out of touch with the needs of consumers as a whole. First of all, insurance should be comprehensive enough for the under average intelligent person from all walks of life to understand. Not everyone can afford Sylvan. Most people can barely afford to save for retirement, are strapped for cash with a 1/3 of their income paying for all kinds of insurance (health, life, auto, home, disability, critical illness, and more. Are you telling me that most people should have no problem setting a side $20,000 to meet their 10% or higher EQ deductible if they only took the time to read their policy? Duh. Gee why didn\’t I think of that. Your so smart. Whoops I mean you\’re so smart.
Oh, I mispelled Condescending. God, I feel so stupid. By the way, I post my name because I\’m not afraid to say how I feel to anyone. If you are too afraid to say who you are then what you say doesn\’t hold merit. Look at it this way, if the insurance company I work for disagrees with what I believe at least they can take the posistion of being a company that allows a democracy to exist amoung their own employees and independent contractors. If my company or anyone else who has integrity and can prove their point of view then they might convince me that I\’m wrong. I want you to know when you\’re talking to me and that is by my name only. NOT JEWEL, NOT STAR DUST or BOOM BOOM but JOANNA EIERMANN. Get it?
Wow, Joanna. You\’re a frickin\’ genius. Never said I did or didn\’t agree with you. Just wondered why you have to be so rude.
Again with the insults. I will consider the source. :)
By the way, I realize many people legitimately struggle to make ends meet. But, I am sorry if I don\’t feel bad for the people who choose to spend their money on what they consider \”necessities\”-new cell phones, nice handbags, expensive shoes, etc… and then whine about insurance rates. All of the other people (who work hard and watch how they spend money) are the only ones I feel badly for and want to help.
Now I will know who to tell people to steer clear of…
\”NOT JEWEL, NOT STAR DUST or BOOM BOOM but JOANNA EIERMANN. Get it?\”
I wouldn\’t want them to get insulted by you or to have their words twisted by you. Or, the worst yet, to have you put words in their mouth. You are SO professional Joanna Eiermann. The company you work for must be so proud of you (and by proud, I mean ashamed).
You must have been glued to your email all day waiting for my response. No sir, you\’re the genius. Damn, I should be telling my clients to save for their EQ deductible and not spend so much money on Coach Hand Bags. If they cut back now they might have their 20K in about 50 years.
You idiot. Reading your policy isn\’t going to protect you against an insurer\’s insolvency when the next Catostrophic event occurs nor is it going to make coverage available for a risk the insurance companies aren\’t willing to provide for. What\’s you\’re Earthquake deductible? Do you have an emergency fund to cover this? If you do, you are amoung the elite.
yeah, but reading a policy can actually do things like inform you. If you\’re going to take the time to read the blogs about how your carrier is out to screw you, it at least makes sense to read your policy to know what\’s covered; doing so allows one to prepare for those damages that are not covered, like an Earthquake deductible. The great thing about Big Bird\’s situation is he can probably have his nest lifted back into position if it falls due to Earthquake, but at least he\’s smart enough to consider it a risk worth insuring for. It\’s not greek, even though a trained lawyer like Mr. Lott can\’t figure it out, it\’s good to know Big Bird can and has taken steps to protect himself.
As many have stated before, the policy has evolved into an easy read policy now. If the peopel can\’t understand now, this is one last chance. Charge an additional $40.00 per policy and have the agent provide up to 1 hour with each insured to reveiw any and all coverage questions and have the insured and agent sign that they spent this time or were offered and reufsed the time. Maybe even have a checklist of some items to check off. Give the $40 to the agent for the extra time. If after the question and answer time the insured wishes not be buy, then NO money changes hands. There is one caveat to this, the agent must be competent, not like Dale.
It don\’t matter what you do to try to explain this to people…
1. only 10% of the population can read
2. only 10% of those can understand what they just read.
3. only 10% of those are capable of making an intelligent descision.
Not saying much for the american public… must be Bush\’s fault!
Joanna, is right, what difference does Capitalization make! You can read the policy all you want, but an exclusion is an exclusion and a deductible is a deductible and it is very, very expensive to protect yourself against them. Most of us cannot afford it, we just have to take our chances!
And by some of you, I mean Joanna and Capital or no Capital.
These policies are written in \”legalese\”, right? They add a million extraneous words so that they can confuse everyone BUT a lawyer. Most people who have commented seem to be saying EVEN IF policies are written in \”plain English\” there is no way they can fit on 1 page, or 2 or probably even 3.
So, Joanna and Capital, I\’ll help you out. No one here is saying READING the policy will suddenly make it cover everything you want it to cover. What they ARE saying is that reading the policy is beneficial to the policyholder. If you don\’t see flood coverage on your policy and you know you need it, then you can ask about purchasing it. Earthquake coverage, theft, alien landings, etc. Read your policy FIRST and quit claiming IGNORANCE after a catastrophe that you are NOT covered for. If you live in a flood zone, you need flood coverage. BUY IT. Sure, there are a lot of bleeding hearts out there (mine bleeds sometimes too) to give you charity but don\’t rely on it. Prepare yourself. I know it is very expensive for some. I wish I could fix that, but I can\’t. Sorry.
The point wasn\’t about capitalization (I\’ll try my hardest to explain this to you). It was about Joanna rudely calling someone* an idiot, when her spelling and grammar made HER look like an idiot. You\’d think if you were calling someone a name you\’d make sure it wasn\’t a name that describes you as well. But, alas pot… meet kettle.
*Joanna\’s comment wasn\’t directed at anyone in particular so I do not even know specifically to whom she was referring.
I think you are missing the point, regardless if you read your policy and know what risk are excluded or what your deductible is, 5% deductible on wind damage or 10% deductible on earthquake doesn\’t change it and very few of us can afford anything else. We understand about a separate policy for flood coverage. And just what is Hurricane coverage (haha)! What kind of emergency fund would Big Bird need with a $20,000.00 deductible?
And by the way, sounds like you are the name caller!
if we just make insurer companies put their stuff in big print on one page, then more stuff will be covered, because less will fit on the page to say it isn\’t covered, and this will help all the people who cannot afford deductibles and out of pocket expenses and stuff. This will be much better and easier to understand.
unless they start using that really big paper I read about awhile back.
\”And by the way, sounds like you are the name caller!\” Ooh, good one Capital. What are you? 5?
No one here said anything about deductibles being too high, too low, too big, too short, blah blah blah. I didn\’t say the system was perfect, or even that it works. But, you obviously did not read what people wrote.
Do yourself a favor. Call Sylvan Learning Center. They can set you up with a tutor who can teach you reading comprehension. If you\’re lucky maybe Joanna will call too. Then you can become best friends forever. (My \”rude\” comments come from the frustration of people being called names for voicing their thoughts.)
Jewel, don\’t think you are the only frustrated person, don\’t think you like it when someone else makes a comment! From what I have read, you seem to be the one doing the name calling and no, I don\’t think you get the point yet!
\”From what I have read, you seem to be the one doing the name calling\” – How so? Because I called someone a name AFTER they called someone else a name? I take it back then. Her post was idiotic (not to mention rude). Is that better now?
Now, please tell me where else I have called someone a name. If you can\’t, then kindly shut up.
\”don\’t think you like it when someone else makes a comment!\” I have no problem with comments when they are not belittling someone for having a different opinion or are not inaccurate regarding another\’s point of view.
\”no, I don\’t think you get the point yet!\” Well, the problem seems to be that you DON\’T think. So, I guess I will consider the source.
1. Fire policy
exclusion: any destruction but accidental fire
2. Wind policy
exclusion: any destruction but wind
3. Earthquake policy:
exclusion: any destruction but movement of earth (note: not to include sinkholes, that\’s policy 4)
4. sinkhole policy
excl: any destruct that don\’t involve sinkin\’, including earthquake that makes big crack that swallows whole house
5. theft policy: covers theft of house if someone steals it
excl: does not cover theft of stuff in house (that\’s in 6)
6. theft of stuff in house
excl: does not cover theft of house or detached structure and/or pool
7. meteor/falling object policy: damage must come from fallin\’ stuff from outer space
8. hurricane policy: only covers wind when accompanied by rain, but not wind only, and not rain that pools up and floods in from surge or levee rupture, river swellin\’, or sudden geyser
10. terrorism policy: does not cover anything above except that actually caused by a terrorist provided he didn\’t cause an earthquake, hurricane, sinkhole, theif, rain, wind, electrical fire, fireball, or a really bad smell.
Jewel, you are a gem. Thanks for the laugh. Joanna – no nerve hit. As for you J, please come back to this board once your IQ exceeds the IQ of a head of cabbage. Thank you.
Better be careful how much paper we\’ll be using to put all this into print… just think how many trees this will take. And what will it be used for? To fill our landfills!
Chad, your posts make me smile no matter what. Your simplified approach to the simplified policy is exactly what is needed to clarify those darn confusing policies and all their exclusions that no one reads anyway.
In 1984 ISO came out with the easy to read 14 page HO policy. In 1991 they added 4 more pages making it easier to read. In the 2000 edition it has 22 pages. Have the additional pages made it easier to understand? It does not make Trent Lott or any other insured read the policy. We will always have the insureds (after the loss)who exclaim that if they knew the coverage for the loss was available, they would have purchased it, no matter what it cost.
In 1984 ISO came out with the easy to read 14 page HO policy. In 1991 they added 4 more pages making it easier to read. In the 2000 edition it has 22 pages. Have the additional pages made it easier to understand? It does not make Trent Lott or any other insured read the policy. We will always have the insureds (after the loss)who exclaim that if they knew the coverage for the loss was available, they would have purchased it, no matter what it cost.
um, speaking of poor Joanna, um…she has clients? I\’m assuming she means insurance clients. Based upon her command of issues and facts, it\’s not hard to surmise why she is baffled about things like deductibles; Joanna, if your an insurance agent, I\’m weeping for your poor clients. Please point their way to the ripcord and tell them to pull…Quick!
Otherwise, the thought of you breaking down and balling all over the paperwork while you explain to your poor client they won\’t be able to afford their \’EQ\’ deductible, wow, I bet you get allot of referrals.
\”I\’m sorry; I\’ve got tissues; this part, uh, this…I can\’t help it…it\’s your earthquake deductible…I\’m so so so so sorry; it\’s so high and it will be so difficult on you; I\’m so sorry those greedy insurers charge for these things; I\’m alright. No, really, don\’t look concerned; I\’m a professional. Now about the jewel…jew…jewellllry…it\’s only…only…cuv…covered up to 1000; I just can\’t take it; it\’s important stuff and they should just be giving you more coverage. No, don\’t you apologize; I have to sell this stuff for a living; some nites I can\’t sleep. If it wasn\’t for Oprah, well, I don\’t know. But those greedy b\’s should give you more coverage, and for less money. I\’m gonna call them on this one, as soon as I\’m done with you. NO, no, no, don\’t worry about me; I just get emotional when I see people paying for this overpriced crap I sell. Why? Well, I believe I can make a difference; I\’m better than most people because I can see thru the hipocracy of their lies. You know, I won\’t even accept a commission for this sale; I won\’t. It\’s just not right. Well, ok, but don\’t say I didn\’t offer. Now about that wind deductible; oh gosh…I just can\’t take it anymore. No no no no no no…I can\’t believe they\’re doing this…this is unbelievable…now they\’re adding another deductible…that\’s it, I\’m going back to retail; I\’m sick and tired of apologizing for their greediness all the time. Know what I get? Just a few measely percent, buy they get the rest; and you get all these deductibles. Here\’s your policy; good luck reading that thing; I\’ve heard even Trent Lott can\’t figure out his…so don\’t even try. And if you don\’t pay your premiums…boo-hoo-hoo…I understand they won\’t pay you anything, either…I just can\’t take it any longer…\”
I\’m asking again . . How is reading the policy going to protect the insured from an insurance company going insolvent when a catastrophic event occurs for which they do insure? How is reading the policy going to stop the insurer from balking on covered losses? And as for reading the policy – with all the money consumers spend they deserve to have a policy that takes 10 minutes to understand and it should be on the first page, the declarations.
Clients who are struggling financially complain about coverage, cost and the fact that they don\’t have enough choices. These are good people, making good choices. They can barely afford all the insurance they are required to purchase each month, every year (thousands of dollars). They\’ll never see it again unless they have a claim. It sounds like you could care less, and that their disatisfaction must be because they\’re not reading their policy and I must be a poor agent or else they would be content with high cost and minimal coverage. You\’ve turned a blind eye to the reality of what consumers are facing.
Better yet. Let\’s scrap the whole P & C industry and let the Federal Gov\’t have it. The industry is too diverse, with too many insurance companies and insurer\’s are constantly whining about profit. Consumer\’s need a break and this is where they should get it. I and a handful of insurers might be happier working with the Feds. I would rather sell life insurance for a profit. Premiums are reasonable and number of complaints are zero. In fact, I could sell more of it if it weren\’t for the damned expensive P & C premiums.
Let’s start by defining the insured location. Sounds easy, right? The insured location is the premises that is described on the declarations page, easy right?
Does that definition change if part of the premises is being used in a business?
Does that definition change if you, the insured are temporarily residing in another residence?
Does that definition change if you are renting part of the property?
Now let’s look at an Exclusion which has been in the news.
We will not pay for physical loss resulting directly or indirectly from any of the following.
Flood, surface water, waves, tidal water, overflow from a body of water, or spray from any of these whether or not driven by rain.
Sounds pretty straight forward…
Why is this like this? Because unless every “I” is dotted and “T” is crossed, someone is going to say this is not what the policy says. Heck even when everything is spelled out some lawyer or politician will decide that’s not what the policy meant to say.
What Hurricane victims discovered was that they are in a system that allows insurer\’s to define what occurs first. Water over Wind. The insurers claim water came first, but they can\’t prove it. And since, conveniently, there isn\’t any Federal Regulation and not enough State regulation they simply decline the loss. And some just simply filed bankruptcy. How sweet. My question is why were they even allowed to sell insurance? Apparently, selling insurance is no different then selling an air filter inonizer.
The bottom line truth is that flood insurance could be included in the contract but nobody would pay the additional premium. Therefore, the flood exclusion and yes, I do beleive it is fair.
Would you agree that people will many times say things they don\’t mean, while under extreme duress? The reality is they most likely wouldn\’t have been able to afford it. And I guess the lender\’s didn\’t understand the policies either, otherwise they would have required it. Right?
Based on the technology used in the US submarine fleet, and available exclusively from Oreck, this next-generation technology removes harmful particles as small as 0.1 microns. That\’s about 1/100th the diameter of a human hair. In contrast, HEPA filters only capture particles as small as 0.3 microns and can quickly clog up from the particles in the air. Once clogged, they become terribly inefficient and the filters need to be replaced. HEPA filters also tend to hold moisture in, which actually breeds mold and releases it back into the room.
If you like, you can by an air purifier and hurricane insurance at one of my convenient stores.
Hard to believe no survivors have ever complained they\’re not sure the dead guy would have taken more coverage if he had known what it really cost and what a bargain it was.
See, it\’s easier to underwrite for life policies, my dear insurance pal…we all have a 100% death rate; it just happens at different times.
Hurricanes, Lava Flows, tinfoil hats dropping from the sky, those things are harder to predict with certainty and this makes it more difficult to underwrite and predict than something like, say, a life expectancy chart.
So Joanna, you at once are correct, but have yet again proven yourself wonderfully ignorant of the simplicity of your statement. Perhaps yet you\’ll illuminate us all with a profound statement such as you feel more comfortable after a good nite\’s sleep, or the temperature\’s rise with the sun\’s ray\’s strike our part of the globe at a more direct angle…we anxiously await your next point, Joanna.
Joanna, you don\’t think these agents want to make it simple for the policyholder to read their policy. They just want the premiums and leave it up to the adjuster to explain the coverages! I bet I will hear a lot about this! Can\’t wait for the name calling! (haha)
to suggest that insurance insolvency is even something an insured should concern themselves with. Given the general lack of understanding by most policyholders regarding such simple things as coverage, exclusions, deductibles etc, insolvency is for the advanced class (made up of about 1% of the population – see insurance geeks). Wrong to suggest that insurers are unfair regarding what they collect and what they pay out, ESPECIALLY if in the next breath you say clients need to concern themselves with insolvency which only happens when what? Insurers don\’t collect enough premium for the risk. Wrong to (presumably) take a paycheck from an industry you think is screwing the public. I came from an engineering background, and one of the things I enjoy about insurance is that it
is straightforward. For those agents who want to truly help clients by educating them, there is no shortage of good work.
And there never will be. If you want to help people Joanna, apply yourself to meeting clients and helping them understand our industry. Then turn around and influence your company to move in a different direction if you think they are off track. Trying to convince the world that the insurance industry is ripping people off, and not the true safety net it really is, reveals something about you. I\’m not sure what.
If each of us who serve clients took that
approach we\’d be the ambassadors our industry needs now.
I particularly liked your point on insolvency. I think Joanna\’s idea of how an insurance company should be run goes like this:
1) Collect premiums that the insureds will like. (I personally would like to pay $5 a year, how about you?)
2) Hurricane/Earthquake Bobby rolls through.
3) Insurance company only collected $2,000 and needs to pay out $2,000,000.
4) Insurance company is insolvent (can not pay all of their debts).
5) Insurance company files for bankruptcy.
6) Insureds don\’t even get their $5 investments back.
Funniest thing she said though…
\”I would rather sell life insurance for a profit.\”
Guess we know why she doesn\’t like the insurance company to be making all the money. Then she can\’t buy her Prada sunglasses.
*The above comment does not mean I am in favor of insurance companies not paying valid claims. But, if you live in a flood/earthquake prone area- BUY THE COVERAGE.
\”They just want the premiums and leave it up to the adjuster to explain the coverages!\”
That line is funny. A lot of insurance agents seem to embody that mindset (#1). Others are happy to explain coverages (properly even! #2), others try to explain coverages but insureds don\’t have time or don\’t even want to hear it (#3). Others try to explain coverages but really don\’t have a clue what they are doing (#4).
I think Joanna sounds like #1 and #4.
The part about adjusters explaining coverage (obviously after the fact) had me rolling. Good point!
Thank you Anne
If Joanna calls you a name, just consider the source.
They profit 99% of the time.
Whey they owe, they defend with high profile Attorneys.
They bully Americans and Own Officials
because they Grease Them In The Lobby.
It is not a secret. Campaign Contributions are clearly available.
If they would stop contributing to elections, stop spending millions on tv ads that claim good neighbors and good hands, and stop spending millions for the legal defense, they would be able to pay claims without blinking one eye.
We\’re tired of being treated like hound dogs then to be repremended by fellow Americans for fighting back is insult to injury. We got ours, you will get yours.
What a Victory to see the ole Boys in the Band, go after them and win too!
Let\’s hear it for the boys…MS won.
It\’s a start.
there are bad agents, and bad adjusters…and…gasp…bad insureds. There\’s bad people everywhere; that\’s why we need Batman and Robin, even if they\’re only comic book characters.
Simply because there is a bad example available does not allow for use of a onesizefitsall paintbrush to flush an industry. I see the claims end of the business; I\’ve dealt with thousands of plaintiff attorneys over the years. Some are crooks, some are great guys/gals who really care about their clients. Do we need them: yes, because without them, many folk will \’behave less appropriately\’. Are they always fair with me? No, but they say the same thing about me.
Gil made an excellent point: for those agents who take the time to explain and UNDERSTAND (the U word) there is allot of opportunity. Unfortunately, there are some order takers out there who don\’t explain.
Regardless, it doesn\’t excuse anyone from READING (the R word) the policy. And if you can\’t afford the coverage (like Joanna\’s clients who still buy life insurance so their kin can someday buy a HO policy from her), maybe you bit off more than you can chew on your property?
Gill never said anything about company profits to that end. Why should he explain that to you?
Claims that are legitimate should be paid. If yours isn\’t valid, that\’s TOO BAD.
The only thing I call into question is if the insurance companies are fair in deciding if a claim is legitimate. I am sure they have denied many valid claims.
Let\’s try this scenario:
You own a dry cleaning business. Someone comes in with a dry cleaning ticket that belongs to another store. They want to pick up their Armani suit. You don\’t have it; it\’s at the cleaners down the street. You\’re the most profitable dry cleaning business in town. I guess you would give them someone else\’s Armani suit if it made them shut up, huh? I mean, after all, you make lots of money. Why wouldn\’t you want to just give away $$$ (and valuable items) to people who don\’t hold the right ticket (ie. invalid claim)? Oh that\’s right, because you are trying to run a business.
P.S. I tried to dumb the scenario down as much as possible.
You are (usually) a delight! I say that because I don\’t always like your posts ;) (and you can say the same about me). That part was just a little joke. I do love your posts; I don\’t always agree, but they are great nonetheless.
You\’re exactly right on your point about good and bad. There is good and bad in every industry. A chain restaurant in Chicago with bad service and roaches vs. the same restaurant in Detroit with immaculate surroundings and wonderful people, etc…
My FAVORITE part of your post though:
\”And if you can\’t afford the coverage (like Joanna\’s clients who still buy life insurance so their kin can someday buy a HO policy from her), maybe you bit off more than you can chew on your property?\”
I am sure Joanna will say that at the time of purchase the home was within their means. Of course, they had to take ALL of the money out of savings to buy the house with the extra bathroom. Now they can\’t afford to pay for it all. How many homes are going into foreclosure because people had BIG EYES (and smaller wallets) during the big housing boom in Florida the past couple of years? Savings are necessary for a reason (and no, I don\’t mean Coach hand bags Joanna).
I really liked this post. One of the best you\’ve scripted. :)
Thanks
P.S. I did love the life insurance post too. It made me fall out of my chair.
Rosie, where is your logic? I have a savings account, does it imply I am ripping off my creditors?
It\’s basic accounting. Carriers have homeowner divisions, auto divisions…they also pool the premiums and losses by state.
Louisana produced huge losses in 2005. But that doesn\’t mean a carrier could not be profitable in TX, MO, or Idaho. At the end of the year, they compare their premiums to their losses. If they took in more premium than losses and expenses, then it\’s a profit. If they paid more out…a loss.
Simply because a large loss to a carrier occurs in LA, MS, or FL, that does not imply losses were great elsewhere. It\’s called spreading risk. Regardless, it has nothing to do with the losses. If they are covered losses under the policy, they should be paid. If they are not covered, they should be denied. The fact that a carrier makes a profit does not deny them their duty to disallow those losses they do not feel are covered. Paying losses NOT covered under the policy would not be a smart practice.
Profit has not been banned yet in this country, at least not yet. Profit actually allows carriers to rebuild reserves. There have been many years where major carriers were losing money, yet I didn\’t see anyone complaining they were paying too many losses, or should be allowed to deny additional covered losses simply because they were losing money then.
The risk is different thoughout the country. Homeowners coverage has historyically not been a profitable business; many carriers offer it so they can keep customers in their auto lines; many prefer to buy their insurance from one carrier. Please note there are many large auto carriers who do not offer homeowners. If it was such a profitable part of the pie, they\’d all want to offer it.
thankfully. We call the other 1% insolvent. Joanna and Rosie seem to imply that profit is bad. Where are you birds from anyway? China, Cuba, Korea?
Do you both operate at a loss? What would you call it if you paid out each month more than you brought in? Bankruptcy. And if that happens to you two socialists in our country then you get your high priced attorney to bail YOU
out so that the rest of us can pay your way. Kind of like the Guaranty Association works for the insurance industry. You know, the insurers who run it right and charge (gasp) the right amount bail out the freeloaders. As far as high priced attorneys – how often is the contract really challenged. We pay from my little agency hundreds of claims every year. Neither my company or my insureds have seen fit to challenge the contract in fifteen years of agency.
Can there be disagreements over these contracts which, by the way, have evolved over hundreds of years? Hell yes. But just because two sides disagree doesn\’t mean the insurers are automatically wrong. How often do plaintiffs prevail?
And attorneys devise the contracts – who do you think will defend them? Who has a better understanding. You whiners don\’t like the defendents to have representation but conveniently overlook that the plaintiffs certainly do as well.
Quit complaining and do something yourselves. Our industry is a part of the solution, not the problem. By the way, what do you call 1000 attorneys at the bottom of the ocean? A good start.
Don\’t care if the Company made a profit
because you can\’t loose.
I care because thousands of people lost their business and were denied Interruption Benefits too.
These business owners had to apply to the SBA for loans, lost their homes & business. While the Insurance Companies that we paid, denied our claims and then refered to the loopholes hidden in the policy. Cleaver but shreud.
Why didn\’t the Insurance Industries apply to the SBA? They never had too,they denied claims, then allowed US to pick up the tab. Flood & Grants paid your tab.
You sat back like spiders, trying to figure a way to get out of this one and you fought this exposure, All of the way.
Business is Business.
Yes, you need & want profit. When you sell a product that is defective, it\’s a matter of time before you are made accountable for your mistakes and if there is intent to defraud, that makes your more accountable.
Can all of these people be wrong?
If they misread or did not read the policy, then why didn\’t the Agent explain to the Insured that they Do Not Have Hurricane Insurance if flood waters arrive.
Even though you have a Hurricane Deductible, don\’t think that you have Hurricane Insurance.
The Agent should have mandated flood insurance and explained this to their proposed insured.
Reiterating the fact that if you live outside of a flood zone, your homeowners insurance (is off of the hook) is voided and you will not be paid for wind claims.
You will not have a valid claim for hurricane damage if flood water is present. You will not be able to sue the company for denying claims.
Simple, Honest and Fair.
It\’s the right thing to do.
Seems you guys insist upon Getting One Over On People.
To claim this foul because Senator Lott would like you to put this in writing,
only shows that you insist upon hiding the most important
exclusions in your policy.
If the Industry would be honest, Lawyers would not be needed.
We are profiting from your lack of honesty
\”If they misread or did not read the policy, then why didn\’t the Agent explain to the Insured that they Do Not Have Hurricane Insurance if flood waters arrive.
Even though you have a Hurricane Deductible, don\’t think that you have Hurricane Insurance.
The Agent should have mandated flood insurance and explained this to their proposed insured.\”
I am sure lots of agents did try to explain. However, after reading your posts, I can see why you didn\’t understand them.
\”To claim this foul because Senator Lott would like you to put this in writing,
only shows that you insist upon hiding the most important
exclusions in your policy.\”
Why is it so hard to understand that FLOOD damage is excluded from a standard policy? If flood coverage wasn\’t excluded, they wouldn\’t need to offer it separately. The same goes for earthquake coverage, etc.
Duh…
\”We are profiting from your lack of honesty\” Do you mean we as in you and your fellow misguided citizens? If you do, then you REALLY make no sense.
Rosie, do you know what the figures are? I have to admit, I do not, but I know the vast majority, very high number, are paid.
So, the vast majority are paid, yet the insurance industry as a whole must have missed the devious memo where we deny and refuse to pay what we owe.
Now you say you don\’t care about profits, but earlier that was your argument, \’what about insurance profits?\’.
Your arguments shift like sands thru an hourglass.
HO policies have flood exclusions; sorry, but they are right there. If you want them on page one, I really don\’t give a rats, because I know the same whiners like yourself will still yell \’uncle\’ when you suffer a loss and it\’s not covered because it was some sinister plan between insurers and the Bush Admin to deny rightful benefits even though the flood exclusion has been in the HO policy for like a zillion years.
I love honest debate. You are not an honest person; you make a point, can\’t prove it, and move on to the next mindless scream fit. It used to be a little fun to poke you, but you\’re becoming a bore like your namesake. My recommendation is this:
read your policy. read your credit card statement. read the constitution. don\’t depend on CBS for all your information. maybe consider some counseling, too. And it\’s ok to have fun in life. (and profit if you can).
\”The Agent should have mandated flood insurance and explained this to their proposed insured.\” This is so stupid I couldn\’t leave it alone…should the agent force them to take lower ded, higher limits, vote Democratic? The agent CANNOT force coverages on their client!!!!!
Ever hear of the customer? The customer chooses what they buy, unless it\’s mandated by law. So contact your Democratic Congress and convince them to mandate flood coverage for everyone.
I can hear that conversation between the agent and the prospective insured now…
Agent: You are in an area prone to hurricane loss and while this policy covers the wind portion of the loss, flooding is excluded.
Insured: Ok, so what should I do?
Agent: I would recommend that you purchase a flood policy. For the value of your home, this a flood policy would cost you $XXXX.
Insured: You\’re kidding, I\’m not going to pay that much for a policy that only covers flood! Besides, when was the last time that we had a major hurricane come through?
Rosey, wake up. The common point and majority opinion in these posts is that YES, carriers should pay what is owed and deny what is not covered. You seem to imply by this latest post that no one in the insurance industry has any empathy for the many people that lost homes, businesses, etc. I for one empathize & sympathize with all of those that sustained injury & damage from the devastating storms in \’04 and \’05, especially Katrina. However, empathy does not equate to paying claims that are not covered. Did some insurers deny claims that should have been paid? Probably, and they are now paying in other ways for their poor claim handling. Does your policy actually say \”hurricane coverage\”? I do not think so. You either have a policy with specified causes of loss (of which hurricane is not specified) or you have an open peril policy that pays for all causes of loss except those specifically excluded AND YES FLOOD IS EXCLUDED. You may have a windstorm or hurricane deductible, which is higher because of the risk in your area, but you do not have \”hurricane\” coverage. If your carrier did not pay wind damage to your property, then you have a legitimate beef with them. Take it up in the courts as others have done. Do not expect Trent Lott and the likes to become the saviour for every person who did not purchase the proper coverage, and is struggling to recover through SBA loans, donations, handouts, charity, etc. I agree with Chad\’s post…you cannot paint the entire industry with your brush claiming every carrier is \’bad\’.
In testimony before the U S Congress 2/28/07, I.I.I. President Dr Robert Hartwig stated that the Insurance Companies had paid $40.6 Billion to settle over 1 million claims from Katrina. Does this sound like an industry that does not pay LEGITIMATE claims?
My definition of insurance proficiency is knowing that deductibles don\’t always have to come out of pocket, and then getting all worked up over \”finding money to save for deductibles\”.
I thought most agents knew that most (not, all) deductibles are simply \”deducted\” from the loss payout.
I have just fired Kim David as my new insurance director and will be appointing Joanna Eiermann that J O A N N A E I E R M A N N. She has the exact qualifications for the position. Her abilities to balme others and to engage in complete rhetoric with no direction or purpose other than to confuse and inflame her adversaries are impressive if not astounding. Do not worry about the paper I have invented a new process to make paper from Carbon Dioxide it will only cost us $52 per sheet a small price to pay to save trees and inform the public what is truely covered in the policy of insurance they already cant afford.
Hye mis-informed the trial bar -behind all these challenges and lead by Lotts kin Dickie boy gives much more to the the election process than does the insurance industry see the recent criinal conviction of Mississippi judges and lawyers. They dont even contribute they simply give loans and cash! If your going to point out corruption lets have an open discussion.
Anne, do you mean that if agent\’s explained the coverages that the insured wouldn\’t want to buy it? Is this why agent\’s don\’t want to explain coverage? Are you saying agents are dishonest? Now, why on earth do you feel this way?
Have you ever heard of E & O? If a client has an issue with an agent he is blessed, because he\’ll have coverage. However, they are S.O.L. if the company simply does\’t offer the coverage and you can\’t buy it any where else.
I won\’t call you any names but you need to wake up and smell the coffee.
\”I won\’t call you any names but you need to wake up and smell the coffee.\”- Joanna
Did you make some for Anne? That was nice of you. I\’ll have mine with cream and sugar please.
Not that office staff is any less important (or intelligent- except in your case!) but I knew you were just \”faking\” that you are a real, licensed insurance agent.
Don\’t you worry though. Administrative Professionals Day is on April 25th. You will get your kudos then. :)
I know you are proud of your prestigous degree but what about the insurers you can\’t find a rating with A.M. Best. There are too many mutual companies that don\’t have the reserve or enough reinsurance to pay for a catstrophic EQ in my state, but they can sell it as if they do. There isn\’t any mandate in my state that requires an insurer to file indicating it is keeping up with the reinsurance premiums. What about yours?
I,m beginning to think you don\’t have anything better to do then read your email all day. You still haven\’t answered any of my questions. I also feel that if you really had any integrity that you would have more to say about what you believe. I don\’t know about you but I send all my emails with a smile, because I know I\’m rattling your cage. Ta Ta for now, I\’ve got clients that need help understanding their policies.
\”There are too many mutual companies that don\’t have the reserve or enough reinsurance to pay for a catstrophic EQ in my state, but they can sell it as if they do.\”- Joanna
Where did you get that information from? Did you do research? Or, are you just making assumptions again because that is what YOU think happens? I don\’t know what state you live in (but it\’s far away form me so I am happy!) so I have no way of knowing if this is true.
Do insurance companies not raise premiums to gather more capital to hold in reserves for future claims? Joanna, you keep arguing that rates are too high. Then you argue that companies are insolvent. Hmm… you like to fight both ends of the stick don\’t you? If you live in CA (I am just naming an EQ state that is expensive to live in), why don\’t you tell your poor clients to move somewhere less expensive? Somewhere they can afford HO insurance coverage? That is what people on this board have suggested for those in hurricane \”zones\”. While it might not be feasible for everyone it is definitely for others.
I bet you look in the mirror and have fights with yourself, don\’t you?
I\’ve got work to do but couldn\’t resist responding to your email. Boy, you really are a ding dong. Life insurance proceeds are paid to the beneficiary and they would be the ones to complain and I haven\’t had one yet. Are you saying life insurance companies are complaining about profits?
\”I don\’t know about you but I send all my emails with a smile, because I know I\’m rattling your cage.\”
First of all, this isn\’t e-mail. Secondly, I am obviously getting you more rattled, since your arguments are all scatterbrained, circular and most of all, make no sense.
\”Ta Ta for now, I\’ve got clients that need help understanding their policies.\”
Good, now pour the clients some coffee and tell them a licensed agent will be with them in a few minutes. Then, go back to your filing. :)
Oh yeah, and I did answer some of your questions. But, I guess the person who read these posts to you didn\’t bother to read those responses.
\”What\’s you\’re Earthquake deductible? Do you have an emergency fund to cover this? If you do, you are amoung the elite.\”
I don\’t have an EQ deductible. I don\’t live in an EQ state. But, if I did, yes, I do have an emergency fund. I call it savings (for emergencies, necessities). You call yours the Coach hand bag fund.
\”Are you telling me that most people should have no problem setting a side $20,000 to meet their 10% or higher EQ deductible if they only took the time to read their policy?\” Where on earth did you get that from? Ha ha ha… that\’s funny… no one said anything like that.
\”How is reading the policy going to protect the insured from an insurance company going insolvent when a catastrophic event occurs for which they do insure? How is reading the policy going to stop the insurer from balking on covered losses?\” Wow, you live in the land of make believe, don\’t you?
In closing, I posted this to you earlier:
\”Never said I did or didn\’t agree with you. Just wondered why you have to be so rude.\”
I don\’t agree with you though and I don\’t think anyone here can figure out your true point. People like you make me sad for the future of this country. I hope you don\’t have kids.
Hey AL, saw you last night on CSPAN. You\’re a work aholic and looks like you\’re taking in a little too much CO2, get some rest. Oh, by the way how much does this posistion pay and oh, I need a degree. I want to be an engineer and be real smart like Anne.
Thought process: lets see…got to get back to clients; ij really getting on my nerves…why don\’t they realize my greatness? remember: life insurance…life insurance…life ins…oh, crap, this sap wants auto and homeowners. I\’m so sick of writing this stuff I could…oh, he\’s here…better get ready…
\”Oh, Hi client one, I\’m so glad to see you…I\’ve got your paperwork right over here…
I\’m sorry; I\’ve got tissues; this part, uh, this…I can\’t help it…it\’s your earthquake deductible…I\’m so so so so sorry; it\’s so high and it will be so difficult on you; I\’m so sorry those greedy insurers charge for these things; I\’m alright. No, really, don\’t look concerned; I\’m a professional. Now about the jewel…jew…jewellllry…it\’s only…only…cuv…covered up to 1000; I just can\’t take it; it\’s important stuff and they should just be giving you more coverage. No, don\’t you apologize; I have to sell this stuff for a living; some nites I can\’t sleep. If it wasn\’t for Oprah, well, I don\’t know. But those greedy b\’s should give you more coverage, and for less money. I\’m gonna call them on this one, as soon as I\’m done with you. NO, no, no, don\’t worry about me; I just get emotional when I see people paying for this overpriced crap I sell. Why? Well, I believe I can make a difference; I\’m better than most people because I can see thru the hipocracy of their lies. You know, I won\’t even accept a commission for this sale; I won\’t. It\’s just not right. Well, ok, but don\’t say I didn\’t offer. Now about that wind deductible; oh gosh…I just can\’t take it anymore. No no no no no no…I can\’t believe they\’re doing this…this is unbelievable…now they\’re adding another deductible…that\’s it, I\’m going back to retail; I\’m sick and tired of apologizing for their greediness all the time. Know what I get? Just a few measely percent, buy they get the rest; and you get all these deductibles. Here\’s your policy; good luck reading that thing; I\’ve heard even Trent Lott can\’t figure out his…so don\’t even try. And if you don\’t pay your premiums…boo-hoo-hoo…I understand they won\’t pay you anything, either…I just can\’t take it any longer…would you rather buy some life insurance from me? It\’s more profitable and I understand it better. Please, I\’ll quit crying if you take life instead of the homeowners stuff; it\’s a ripoff anyway, it has deductibles and it\’s really misleading…not like Life Insurance that only pays when you die…well, yeah, that is kind of wierd, but I guess they figure it sells better if they don\’t call it death insurance…Yes, thanks, I made it myself…the great thing about aluminum foil is it absorbs colors and light; when I wear this hat, it matches whatever else I wear that day…plus it keeps the rain off my head and it keeps the government from being able to read my mind, even though it would be a real short book…snort snort…..I can\’t believe I said that! um, can I have the kleenex box back? I have another client coming in and I\’ll probably…prob…probably need it…again…sigh…\”
thoughts: I can do this job, I know I can…I\’m smart enough, good lookin\’ enough, dress well, nice hat, and people really really like me…
Do you know how many insurance companies are in your state? Do you know which ones are rated? Is there a guarantee fund in your State? Which companies are admitted? Can you get the financials on all the insurers selling P&C? What\’s the catostrophic exposure in your state? And do your insurer\’s have this exposure covered in their policies? How can you find out if your insurer has enough reinsurance or if they are paying it each year on time?
TRIVIA QUESTION: What premier insurance company let their reinsurance lapse right before the 1994 Northridge Earthquake in California? No, I won\’t give you the answer, do your own research.
\”Do you know how many insurance companies are in your state? Do you know which ones are rated? Is there a guarantee fund in your State? Which companies are admitted? Can you get the financials on all the insurers selling P&C? What\’s the catostrophic exposure in your state? And do your insurer\’s have this exposure covered in their policies? How can you find out if your insurer has enough reinsurance or if they are paying it each year on time?
TRIVIA QUESTION: What premier insurance company let their reinsurance lapse right before the 1994 Northridge Earthquake in California? No, I won\’t give you the answer, do your own research.
Don\’t convince me I\’m wrong convince yourself.\”
Ask me if I care. I already know you have no clue what is going on here… If you can\’t even follow simple comments then there is just no hope for JOANNA EIERMANN. And your future is in flipping burgers… better practice your \”Would you like fries with that?\” line…
Why don\’t you explain health insurance to me? Workers Comp? Fidelity and surety bonds? Pensions? 401K? The price of tea in China?
Pardon me for being rude but you are hurtful in your comments as well. Your answers are not satisfactory and my point is that the insurance industry needs federal regulation without bureaucracy. There needs to be fewer insurance companies (consolidation of the insurance companies), so that the premier companies are able to serve their clients better with the right coverage/cost and achieve profitability.
And if this happens it would be in the best interest of all children.
\”Pardon me for being rude but you are hurtful in your comments as well. Your answers are not satisfactory and my point is that the insurance industry needs federal regulation without bureaucracy.\”
My original problem with you wasn\’t in what you said, but in how you said it. Why do you have to call someone an idiot? You can just say \”I disagree because…\”
My answers are not satisfactory? I was not arguing with your points to begin with but rather your poor attitude. This is the most coherent thought you have posted on this thread. I never claimed I had all encompassing knowledge of the HO insurance industry. That is why I haven\’t commented on everything you have said… I don\’t sell homeowners insurance, but I do have it. Asking me to educate you or answer your questions when I don\’t have the background is like you explaining the in depth workings of mortgages to me… But, just because I don\’t sell HO insurance doesn\’t mean I can\’t post thoughs, questions and the like on this article.
P.S. No, I don\’t have work to do so I am counting the hours until it is time to go… 3 more hours left…
\”How will you know whose standing? Can you trust your own judgement and put two and two together? Better yet, can you defend your own judgement?\”
Are you looking in the mirror right now? Because I know you are not directing those comments at me.
I obviously do not know everything but I have not twisted words or invented things out of thin air… I can defend anything I say because I research things before I give them as facts… and even my opinions can be backed up with facts or other information. Oh and I don\’t talk in circles like you ;) By the way, I am smart… does your IQ break into the double digits? :)
*yes, I know the song wasn\’t intended to be about Joanna, but it did fit…
Joanna, why do you change the context of everyone\’s post? What I meant is, if agent\’s explained the coverage, maybe policyholders would get proper coverage! Actually what I meant is, agents… get off computer and help the policyholder! And yes, I know what E&O is and S.O.L., with your attitude, I hope you have E & O.
Get over it, you don\’t have to get angry if others post their opinion. You know what they say about opinions, everyone has one!
Grow up. You\’re only presuming that I\’m angry. What if the coverage is not available? What say you about that? It\’s so easy to blame the agent, why don\’t you try something more challenging?
\”TRIVIA QUESTION: What premier insurance company let their reinsurance lapse right before the 1994 Northridge Earthquake in California? No, I won\’t give you the answer, do your own research\”
no research necessary, but not sure what this trivia has to do with anything…and…this wouldn\’t have happened if all the exlusions were spelled in really big letter on a really big piece of paper that Trent Lott could read in the dark, right Joanna?
Double Jeopardy Trivia: What… is the air-speed velocity of an unladen swallow?
Boy, Joanna\’s really getting under your skin when you feel the urge to imply to a complete stranger that your I.Q. is in the double digits. There, there. Of course your smart. By the same token I\’m so confident that if you search for the facts of my questions in your state your I.Q will get even higher.
I now understand better…you just might be a Farmers agent. No wonder you have such a bitter perspective; you\’re probably trying to sell the product of one of the worst (in my personal opinion) carriers in the country…please, for you own sanity, try another carrier, or go independent. Unless you have twenty years or something, run for cover!
\”Boy, Joanna\’s really getting under your skin when you feel the urge to imply to a complete stranger that your I.Q. is in the double digits.\”
You are definitely not wording that comment properly. I didn\’t imply YOUR IQ was in the double digits, nor that mine is… (mine is in the triple digits, thanks). I asked if yours had yet REACHED double digits… OK, anyway, on to what Anne said…
You really do take people\’s posts out of context.. (Good post Anne)
What coverage is not available Joanna? Please tell me and then maybe we can answer your question (you know when it\’s not completely vague).
You still haven\’t schooled me on health insurance, fidelity and surety bonds, workers comp and the price of tea in China. When can I expect my first lesson?
\”There is coverage for almost anything, if you are willing to pay the price.\”
Exactly! Unfortunately, we have seen through Joanna\’s previous posts that she* is not willing to pay the price. It is too high. So, let\’s pay $5 each and then cry when the insurers are insolvent and can\’t pay out the claims.
*and apparently her clients… by the way, it seems you do live in CA Joanna… so tell your poor clients if they can\’t afford HO (and EQ) insurance, sell their house and move… if the average price in their area is $500k and up, they will be able to live quite nicely in Tennessee. Or, they could move to Tennessee and p*ss their money away there too.
Thanks for the compliment and I would be more than happy to help answer your questions if you could be a little more specific. Although, policies and coverage differ from state to state as you may already know. Ya know.
Oh, and your mimicking reminds me of a child with a high I.Q.
1. you quizzed on something most wouldn\’t know unless they were associated w/ Farmers or were associated. (Northridge reinsurance)
2. you mentioned \’premier\’ in your quiz; that\’s a Farmers internal propoganda buzz word.
3. Farmers is knows for reaching for extraordinary methods to \’massage\’ values out of claims to pay less, or do drive by denials on HO losses; I wouldn\’t be surprised if you have tired of trying to explain to your customers they didn\’t have hail damage because the claim rep drove by and didn\’t see it from their car.
4. Farmers reserve/surplus has been known to shrink faster that a global warmers assessment on the Antarctic icepack
5. Farmers agents have a real tough time competing in the market; their product is typically overpriced, if their insured makes a claim…yikes. The only reason they (the company) probably survive is the \”I\’ve always had my insurance with Bob Smith with Farmers because he\’s a good guy\” customer.\”
6. I\’ve known a few FIG agents over the years…they haven\’t been too happy.
7. You sound like a captive agent; captives agents with this company would be frustrated, unless they\’re getting ready for retirement.
***some wonderful people work with FIG, however, historically, their upper management does not have a long term vision, very myopic. Many stopgap measures over the years designed to stop the \’bleeding\’. The reinsurance fiasco prior to Northridge is a good example.
Some agents have it easier than others; I don\’t envy those with this company. Good luck, but I\’ve met several agents who cannot make livings with this company.
I know there are some real successful agents out there; it depends on where you are geographically. I\’m sure in some markets, they are competitive. They are not in my market (middle west state).
How intriguing. You\’re much smarter than the rest and I would be feeling pretty confident too if I were you. So let\’s recap on what we\’ve learned thus far. Agent\’s aren\’t good at explaining coverage, policy holders don\’t know how to read, Farmers is a bad company, Joanna Eiermann is shameful and stupid, Anne is an engineer and Jewel has a triple I.Q. and probably gained 5 lbs from lunch. Oh, and Al Gore sounds like a bird.
no, I don\’t think most agents fail to explain coverages, I believe (yes, it\’s a belief) most customers fail to listen, or they are in too much of a hurry, or they are simply price shopping.
There are ways to deceive a customer into a purchase or renewal, however, that represents risk to the agent.
p/c is very price competitive; most people don\’t want to pay any more than they have to for coverage they hope they never use. Some agents don\’t compare apples to apples; there are people running around with assets out the yingyang, yet they have a bare minimal policy (25/50/10 in my backyard). Or, they undervalue their house. Replacement cost is typically hire than value. Most customers aren\’t close to realizing that, so an unethical agent can do some major damage.
In regards to State Farm, I do have concerns they have some agents who are little more than order takers. I suspect their service ratings make them pretty much middle of the road, but they\’re the big guy, so it\’s easy to jump on them. I\’m still stumped as to what occurred in the Gulf states; my guess would be some bad engineers and independent adjusters were hired who did little more than drive by a property due to the sheer numbers they had to deal with; why the errors would not be corrected and dealt with one by one I can\’t answer, but not fairly addressing those claims puts State Farm in a very risky position. I have no idea on what percent they may not have been fair with; my guess is it\’s extremely low. But that still leaves State Farm responsible if a claim was wrongly denied.
Al Gore is simply educated in the important ways of the world, such as knowing dialogue from Monty Python and the Holy Grail. I have no idea if she sounds like a bird, but with the weight gain I doubt he whistles in the wind.
The State Farm undervaluing and denial of claims was from the TOP, not independents or engineers. Thy made a conscious decision to deny slab cases in their entireity and to my knowledge 99-100% were denied. The non-slab cases were evaluated RELATIVELY fairly, with some exceptions.
Chad: You quote the State Farm motto, \”pay only what we owe, no more, no less\” and they do not stand up to it. Are you State Farm? It is a catchy slogan but entirely untrue with State Farm as they reside in their own world, oblivious that there is anyone or anything other than State Farm.
Can someone purchase a dictionary for Senator Lott so he make look up the term \”exclusion\”?
I didn\’t know what \”exclusion\” meant because it was not in plain english. I would have understood if it had said \”ya aint covered for damages caused by water coming from outside of ya house\”.
I invented the term \”exclusion\” and I intended it to be ambiguous. This way when global warming devastates the seaboard of the US – people who didnt pay for this coverage will get it free anyway-kind of like solar power. Im such a freaking jeanyus!
Obviously we need more federal regulation of insurance. When in doubt, legislate your way around contracts!
Senator:
If you don\’t know what an exclusion is what in the hell are you doing in the senate?
Exclusion: that what you have done to us taxpayers! Excluded us from the same type of retirement benefits you receive without paying a nickel! Excluded us from superior healthcare like you receive!
Citizen Kane
What do you need plain language for? Hurricane Katrina never happened, just like other events that I don\’t want to think about. Now give me some more hostages so I can humiliate the brits.
A typical policy has 200 limiting conditions, including exclusions. Just make a place on the policy for Senator Lott to sign saying \”I have read\”.
R Nek
I wonder if the Senator ever thought why policies are written in \”Legaleeze\”? Does he know that any ambiguity is settled in favor of the insured? Has he ever seen Insurance companies posting world record profits? I don\’t think so. His ill considered legislation is a shame. Too bad he can go after the Gas Companies where the real money and price gouging is.
Hummm – Can you say POLICY CONDITIONS – Give me a break – if the people don\’t know what their policy covers – slapping it on the declarations page isn\’t going to help – Can you say… READ YOUR $y#* POLICY? If you don’t “understand it” then ask your Insurance Professional for help – – – Most insurance polices are written to be understood by a person of \”average intelligence”, – obviously Mr. Lott doesn\’t fall within this category…
…as long as the laws that Lott and his colleagues write have the same clear and unambiguous cover-letter stating what the laws do and do not do, who they do and do not apply to, when they do and do not apply, and who they do and do not benefit and to what degree.
When legislators get to the point they can do this, they will then have earned the right to insist that others do the same.
Maybe we could just do away with comprehensive policies and have only named peril policies, that way if the peril is not named, it\’s not covered. Make the covered peril language very specific, exclusions not needed.
Aw shucks, that would be just too simple.
all ah know iz there aint no ways dem insurer companeez can fit all dem xclooshuns on de front of ma pallicee. So, day will haf ta deside witch wons dey want to keep; ya kno, da wons dats most valuabul to dem, an let de odders go cuz day wont gonna fit dem all on dat won page.
Seez, dis iz part of my jeanus plan to forse carrierz to cuver more dan day do now, an I will make shur we make law dat dont let dem raise any rates on us, eder. Lets just see dem try an fit all dem xclueshunz on dat one page; it will haf to be a pretty big dag gum page, iffin ya know whut ah meen.
This trikin printin thingamajig reminds me of how polarized we are, we gots the pro-water flood insurers against the pro-winddamage pay me cuz I had insurance folk; it reminds of of the wal-mart vs union, Iraq war vs surrenderers, vegietariens vs carnievors, and even right vs left…Trent vs not Trent…even
reminds me of government; gridlock that is; you got the reds hatin\’ the blues, and the blues hatin\’ the reds; dat\’s why nuttin\’ gets done in Washington; it\’s like the big fish and the little fish; the big fish wants to eat, and the little fish wants to eat, but the big fish wants to eat the little fish, and the little fish doesn\’t want to be eat. See, that\’s like government. What we need is universal flood coverage; put a $500k cap on it, but a 15% deductible; that way you makes flood people take responsibility for some of their loss, but you can provide coverage to the really well off people like me who need extra coverage for their beach property. That, and we should tax gas 50 cents per gallon on top of the current taxes to balance the budget. Then you make the print real small, except fir dat first page, yaz make it\’z real big and people justs reads dat page and dey stop right dare.
Ha,ha, most insurance professional don\’t even understand the coverage, with all the exclusions and exceptions and what ifs!
Please direct a question to Trent Lott, did you ever read your homeowners policy yes or no. If its no he lied.
How come Sen. Lott got paid on his claim and I did not? Seems to me like he already knew what exclusion meant but bent the rules to not apply to HIM!
That term sounds simple enough to me? I guess big words like \”exclusion\” are too difficult for the Senator? Why, yes Senator, noncoverage disclosure makes so much more sense. Thank you for clarifying.
….why Senator Lott has problems with the convoluted legalese of the \”Simplified\” Homeowners insurance policies now in use. He got his law degree from the University of Mississippi (see his bio)!!!
Dubya don\’t talk too good. Daddy\’s VP can\’t spell potato\”e\”. Barbara is pushing reading is fundamental.
I say while we are all following Dubya\’s advice and putting \”food on our families,\” we throw some on our insurance policies too. Maybe we\’ll actually read a few of the words while we are gobbling them all down before we lose our sight to obesity and Type II diabetes-induced blindness.
Gee, do we see some clues here about the state of our nation? Nah!! Hey, the big NCAA game is on–pass me a beer…maybe I can forget all these troubles…
Heck, why should anyone learn to read, then they wouldn\’t be able to play sports!
really, really big paper. The honorable
Senator Lotts idea will revolutionize our
paperless society such that we will be
paperful. Once all exclusions are listed in bold print on the front page, and I assume he means the declaration page, we\’ll need a truck to bring it from the mailbox to the home office. Won\’t the necessary tree eradication program add to Gorebal warming?
I would also like an entirely clear, plain english explanation of my taxes. Thanks.
Chad, itn tooked me a bit of tame to reads dat stuff, but, shuckns, it shore was worthn it! Thankya.
Lott should stick to apologizing and grovelling for forgiviness because of his Strom Thurmond comment. He\’s too dangerous to do more important things.
Maybe there is an upside to this…. What is \”clearly\” stated as excluded can no longer be determined by a court as \”ambiguous\”!! If a federal legislation requires this, how can any state judge disagree and overrule a coverage question?
Lott is mad at State Farm because he couldn\’t get them to pay for something when Ol\’ Slick Willy got State Farm to pay defense in the Paula Jones lawsuit, even though everyone, including Lott, knew there was no trigger, and probably really wasn\’t even a policy in force since Bill & Hill had no underlying coverage. They stuck it to you Lott Ol\’ boy, they must be Clintonite Democrats at State Farm and now you\’re trying to stick it to us!
Can anyone at the NFIP tell Mr. Lott what constitutes a flood under the program? What Law School did this clown graduate from?
Be careful, nine judges said that your right to be protected from ilegal seizure of your property by the government wirtten in to the Constitution REALLY didn\’t mean that, it only meant you are protected AS LONG AS your property can not generate more tax dollars…
Big,
University of Mississippi….class of 1967.
HI, I\’m Big Bird. Reading is fun. If you remember, my nest was blown away by a nasty hurricane a few years back. But my friends stuck with me, and I pulled thru.
It wasn\’t easy. I had many anxious days. Waiting for the adjuster to come out was nerve wracking.
But you know what really pulled me thru?
Being a bird, many underestimate my intellectual side. I\’m not quite Mensa, but I did learn something several years ago:
TO READ!!!!!!
THAT\’S RIGHT; I READ THE FRAKIN\’ POLICY; I MADE SURE THERE WERE NO EXCLUSIONS IN MY COVERAGE THAT WOULD PREVENT MY NEST FROM BEING COVERED. i BOUGHT FIRE, WIND, EARTHQUAKE, AND HURRICANE COVERAGE. I EVEN GOT COVERAGE FOR GROUND SUBSIDENCE, NOT SURE WHY I NEED THAT, BUT IF THE GROUND SINKS AND AL CAPONE\’S VAULT TURNS UP, I\’M COVERED. HAD I BEEN STUPID ENOUGH TO ATTACH MY NEST TO A BASEMENT, YOU CAN BET YOUR SWEET BIPPY I WOULD HAVE OBTAINED FLOOD COVERAGE. BUT HEY, I\’M JUST A BIRD, I FIGURED IT OUT, BUT THIS IDIOT OF A SENATOR CAN\’T FIGURE OUT HOW TO TIE HIS OWN SHOESTRINGS WITHOUT LOOKING AT POLLING DATA FIRST, AND HE\’S GONE AND FIGURED OUT THE AVERAGE AMERICAN IS TOO STUPID TO READ THEIR OWN POLICY. THEY THINK IF IT GOES BAD, THEY CAN APPEAR ON OPRAH AND SHE\’LL MAKE IT ALL BETTER. HEY, OPRAH\’S MAKING SCHOOLS IN AFRICA. TAKE CARE OF YOUR OWN BACK YARD. OH MY GOSH, INSURANCE COMPANIES ARE MAKING PROFIT, WHAT ON EARTH WILL I DO? I SHOULD COMPLAIN BECAUSE I WASN\’T SMART ENOUGH TO GET PROPER COVERAGE. TALK ABOUT CRYING WOLF, I CALL IT CRYING STUPID. GET COVERAGE, ASK WHAT YOUR ARE GETTING; ASK WHAT IT COVERS, ASK WHAT IT DOESN\’T COVER; TRY PAYING FOR IT AND READ THE POLICY.
IF YOU WANT TO BECOME DEPENDENT ON OTHERS TO TAKE CARE OF YOU, MOVE TO A SHELTER, BUT QUIT WHINING ABOUT HOW UNFAIR IT WAS THAT YOU DIDN\’T READ THE POLICY, THAT YOU DIDN\’T THINK THE WATER COULD RISE LIKE THAT, THAT YOU DIDN\’T THINK IT WOULD HAPPEN TO YOU. YOU CAN GET YOU HEAD ABOVE SEA LEVEL AND SEE THE SUNLIGHT, OR YOU CAN CHOOSE TO KEEP YOUR BRAINS IN HIDING BEHIND YOUR TIN FOIL HATS AND WHINE THAT IT ISN\’T FAIR.
Thanks,
I feel better now.
Wouldn\’t it be nice if someone could cut-and-paste all these quotes and then send them to Lott\’s office?
Maybe then he would realize just how big a jack-*** he looks like.
As an added bonus, I know Lott must be off his rocker because this site NEVER gets 100% agreement.
I would like to know what Senator Lott thinks about banking disclosure requirements and if he can understand the legalese attached to his credit card bill?
Where was he on that issue, financial matters that effect consumers on a daily basis?
Agreed…I have read many commercial and personal lines policies, and have yet to find one that is more difficult to understand than a credit card agreement. Talk about fine print…the entire credit terms are in print that I cannot read without a magnifying glass. Even then, it makes very little sense. How about a disclaimer in double size bold print on them?
Great idea, and not surprized that the Industry wants to fight this one.
Evidence that we need to implement State Regulations, because there are no Regulations that protect the Insured or the Agent from betrayal or deception.
However, if the proposed Insured reads the policy and understands that they are paying for Insurance but the policy does not provide financial protection for anything that could possible destroy their home, with the exception of fire.
No One Would Buy The Policy! That\’s why the Insurer does not want to explain/expose the truth to the Insured.
The way the policy is written has made tons of money for the Insurer, since the beginning. Ignorance of he Insured.
In the end, they don\’t want to be exposed for selling Insurance without coverage.
Trent Lott is on their trail like a blood hound.
Good Work, Senator,Keep it up because we need more Senators like you.
Perhaps one day we will be able to buy an Honest, Fair Policy.
After all, this is America.
Whoa, Kim, hold up. Even the ISO basic causes of loss form covers fire, lightning, explosion, windstorm or hail, smoke, aircraft or vehicles, riot or civil commotion, vandalism, sprinkler leakage, sinkhole collapse and volcanic action. There are limitations, but pretty sure we cna safely say that there is coverage for more than just damage by fire.
Most policies are written by regulators and changed by regulators. That\’s what makes it so difficult to read, along with trying to write policies to address so many different state regulations. If it could all be placed on one page, it would be. The idea sounds great but it\’s simply ludicrous and will lead to more litigation. So, if it’s not on the first page, then what? We can’t write policies longer than a page because it wasn’t summarized on the 1st page and so we can’t depend upon it. We’ve become a nation of cry babies and whiners. Nothing is ever our fault or responsibility. And the rest of the nation should pay for you to rebuild on a flood plane, the side of a mountain that’s going to slide, an earthquake prone area. This is your economic future; pay some attention to it and stop whining and expecting everyone else to pay for your mistakes. Lott is a wealthy man who had a home on the beach. He didn\’t know it could flood? Why didn\’t he buy flood insurance, including an excess policy for the value above $250K? Because he didn\’t want the expense and his brother-in-law could sue and make you feel sorry for a super wealthy man who is whining.
\”As an added bonus, I know Lott must be off his rocker because this site NEVER gets 100% agreement.\”- Mjolnir
And then there was 99.9% agreement.
Well it was nice while it lasted, huh?
I vote for Lott being off his rocker. Now we are at 99.95% agreement.
This wouldn\’t fix your issue, Kim. You have indicated you have coverage that should have covered your property but was denied.
Regardless of the \’one page of exclusions\’, a carrier can still choose to pay or deny the loss presented, right or wrong.
This is just Trent Lott exposing his self interested ignorance.
Carriers will soon be excluding every type of risk and just collecting premiums!
please go take your meds and put on your tin foil hat. you sound crazy and probably look it too.
Hey Senator Lott look at the tax code.
As recently outlined on 48HRS:
> Tired of constantly being broke and stuck in an unhappy marriage, a young
> man decided to solve both problems, by taking out a large Insurance Policy
> on his wife, with himself as beneficiary, and arranged to have her killed.
>
> A \”friend of a friend\” put him in touch with a nefarious underworld figure
> who went by the name of \”Artie\”. Artie explained that his going price for
> snuffing out a spouse was $5,000.00 The husband agreed to the amount,
> explaining that he would not have any cash, until he collected his
> Insurance money. Artie insisted on being paid something up front. The
> man opened his wallet displaying a single dollar bill. Artie rolled his
> eyes, and reluctantly agreed to accept the dollar as downpayment for the
> dirty deed.
>
> A few days later, Artie followed the man\’s wife to the Wal-Mart store.
> There, he surprised her in the produce department and strangled her with
> gloved hands. As the poor unsuspecting woman drew her last breath and
> slumped to the floor, the produce manager rounded the corner. Unwilling
> to leave any witness behind, Artie had no choice but to strangle the
> produce manager as well.
>
> Unknown to Artie, the entire incident was captured by hidden cameras and
> observed by the store security guard, who immediately called the police.
> Artie was apprehended before he could leave the store. Under intense
> questioning at the police station, Artie revealed the sordid plan,
> including his financial arrangements with the husband.
>
> The next day, the Post headlines declared……….
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> SCAN DOWN VVVVVVVVV
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>
> \”ARTIE CHOKES TWO FOR A DOLLAR AT WAL-MART\”
Lets make the policy cover everything for everybody everytime. Since we\’ll never have to tell a client their loss won\’t be covered we\’ll enjoy a stressfree existence, not to mention a four fold pay raise when those nasty insurers charge what is necessary for an all risk, all peril policy. If the contracts arent worth the paper they are written on, lets dump them along with the attorneys who fight over them. No need for attorneys any longer – whats to fight about?
You got it. Not only do Insurer\’s not want to insure for Catastrophic events most likely to occur but they don\’t want the Feds or State Gov\’t to offer any either. For example, Insurer\’s are opposed to Missouri legislation allowing for a Cat Fund to protect consumer against insurer insolvencies. Bottom line. . . consumers that make the wrong choice on insurers is S.O.L. Not every insurer is admitted and even if they are the guarantee fund is like having a bad insurance company with the motto, \”slow pay and maybe no pay\”
Al Foil, did someone hit a nerve!
sounds like there is a groudswell of support for the new, Oprah EZ Reader/EZPAY Policy. It\’s so easy, even a dead caveman could do it. You simply find any agent: Auto, health, life, home, secret/covert, and offer to pay what you think you should for the coverage you want to have. There you have it- Your covered! Best of all, you only have to offer to pay; you can withhold payment until the END of the policy period, that way, if you\’re not satisfied 100%, you don\’t pay a dime!
Why should you pay AHEAD of time for insurance you hopefully won\’t have to use?
By simply completing the one page application and affidavit of ingratiation, you now have auto, home, health, and life coverage; you get to pick! And best of all, if you don\’t get paid for your claim to your satisfaction, you don\’t have to pay your premium!!!!!!!
\”ah wish ah had heard about dis Orpah EZ Reedin\’ palicee before ah had me little mishap with mah beech propertee…best of all, ah dont haf ta pay a dime iffin\’ ah aint compleetlee satisf, satisz, sats; uh, happy with the dag gum thing\” T.L., anonymous elected official, MS.
Sounds like a Policy to me!
I am in the process of inventing a place called fantasy land _(I came up with this idea during a trip to Disneyland when I was a small child and suggested it to Walt and he ran with it)in this land Kim David will be my dictator of insurance. We will mandate the OprahEZ policy as the standard and we will use only recycled government documents from the rose law firm as our paper and sunlight and a magnifying glass to inscribe the plain english discriptions of the non covered events.
now I think I must vote for Algore…
One day you will understand.
Until then, stay in your tree.
The ole bait & switch? Why are you people so defensive because a Senator is asking for the explanation of benefits to be written where the Insured can clearly understand what you are selling them, without deception.
You are guilty as sin because you are hiding the facts from the people that you want to trust you!
You also reversed it when they sued you.
You say they are trying to get something for free and they are not entitled to benefits because the policy did not include wind damage for a hurricane.
If you would not have deceived them, they would & could not have sued, muchless won.
Lick you wounds and move on because you will never win because it is you that deceived people. Your Own Clients too!
Thanks to Katrina, we now know that there is no such thing as Hurricane Insurance but you still want them to pay the extra hurricane deductible or charge more without it.
You Greedy, Greedy Grandmas!
What? A simple typo get under your skin? Or was it the idiot part? Come on.. If YOU\’RE so smart and disagree with me, say something in response to the content of my comment. BUTT HOLE!!!
Amen Bigbird!!!
Your approach is condenscending to the majority of consumers and you obviously are out of touch with the needs of consumers as a whole. First of all, insurance should be comprehensive enough for the under average intelligent person from all walks of life to understand. Not everyone can afford Sylvan. Most people can barely afford to save for retirement, are strapped for cash with a 1/3 of their income paying for all kinds of insurance (health, life, auto, home, disability, critical illness, and more. Are you telling me that most people should have no problem setting a side $20,000 to meet their 10% or higher EQ deductible if they only took the time to read their policy? Duh. Gee why didn\’t I think of that. Your so smart. Whoops I mean you\’re so smart.
Oh, I mispelled Condescending. God, I feel so stupid. By the way, I post my name because I\’m not afraid to say how I feel to anyone. If you are too afraid to say who you are then what you say doesn\’t hold merit. Look at it this way, if the insurance company I work for disagrees with what I believe at least they can take the posistion of being a company that allows a democracy to exist amoung their own employees and independent contractors. If my company or anyone else who has integrity and can prove their point of view then they might convince me that I\’m wrong. I want you to know when you\’re talking to me and that is by my name only. NOT JEWEL, NOT STAR DUST or BOOM BOOM but JOANNA EIERMANN. Get it?
Wow, Joanna. You\’re a frickin\’ genius. Never said I did or didn\’t agree with you. Just wondered why you have to be so rude.
Again with the insults. I will consider the source. :)
By the way, I realize many people legitimately struggle to make ends meet. But, I am sorry if I don\’t feel bad for the people who choose to spend their money on what they consider \”necessities\”-new cell phones, nice handbags, expensive shoes, etc… and then whine about insurance rates. All of the other people (who work hard and watch how they spend money) are the only ones I feel badly for and want to help.
Now I will know who to tell people to steer clear of…
\”NOT JEWEL, NOT STAR DUST or BOOM BOOM but JOANNA EIERMANN. Get it?\”
I wouldn\’t want them to get insulted by you or to have their words twisted by you. Or, the worst yet, to have you put words in their mouth. You are SO professional Joanna Eiermann. The company you work for must be so proud of you (and by proud, I mean ashamed).
You must have been glued to your email all day waiting for my response. No sir, you\’re the genius. Damn, I should be telling my clients to save for their EQ deductible and not spend so much money on Coach Hand Bags. If they cut back now they might have their 20K in about 50 years.
Ashamed of what? Could you be more specific please?
The company you work for must be so proud of you (and by proud, I mean ashamed).
I couldn\’t have been ANY more specific since I said right in the same sentence-\”of you\”.
I am so glad I do not work with you. :)
You idiot. Reading your policy isn\’t going to protect you against an insurer\’s insolvency when the next Catostrophic event occurs nor is it going to make coverage available for a risk the insurance companies aren\’t willing to provide for. What\’s you\’re Earthquake deductible? Do you have an emergency fund to cover this? If you do, you are amoung the elite.
yeah, but reading a policy can actually do things like inform you. If you\’re going to take the time to read the blogs about how your carrier is out to screw you, it at least makes sense to read your policy to know what\’s covered; doing so allows one to prepare for those damages that are not covered, like an Earthquake deductible. The great thing about Big Bird\’s situation is he can probably have his nest lifted back into position if it falls due to Earthquake, but at least he\’s smart enough to consider it a risk worth insuring for. It\’s not greek, even though a trained lawyer like Mr. Lott can\’t figure it out, it\’s good to know Big Bird can and has taken steps to protect himself.
As many have stated before, the policy has evolved into an easy read policy now. If the peopel can\’t understand now, this is one last chance. Charge an additional $40.00 per policy and have the agent provide up to 1 hour with each insured to reveiw any and all coverage questions and have the insured and agent sign that they spent this time or were offered and reufsed the time. Maybe even have a checklist of some items to check off. Give the $40 to the agent for the extra time. If after the question and answer time the insured wishes not be buy, then NO money changes hands. There is one caveat to this, the agent must be competent, not like Dale.
\”You idiot.\”- Joanna Eiermann
Catostrophic (catastrophic- no capitalization necessary)
What\’s you\’re Earthquake deductible? (your, not you are… earthquake- again no capitalization is necessary)
If you do, you are amoung the elite. (among)
And she is calling you guys idiots? If I were her, I wouldn\’t have put my real name.
This was not a lesson in spelling. Just a leson that you have an idiot calling other people idiots. :)
Typo there- lesson is correct. :)
Thank you
first I see one idiot…one…
now I see two idiots…two…
one, two…
then three-e-e-e idiots…yes, three-e-e-e
one, two, three…
I love to count, I\’m counting on many more…
It don\’t matter what you do to try to explain this to people…
1. only 10% of the population can read
2. only 10% of those can understand what they just read.
3. only 10% of those are capable of making an intelligent descision.
Not saying much for the american public… must be Bush\’s fault!
Joanna, is right, what difference does Capitalization make! You can read the policy all you want, but an exclusion is an exclusion and a deductible is a deductible and it is very, very expensive to protect yourself against them. Most of us cannot afford it, we just have to take our chances!
And by some of you, I mean Joanna and Capital or no Capital.
These policies are written in \”legalese\”, right? They add a million extraneous words so that they can confuse everyone BUT a lawyer. Most people who have commented seem to be saying EVEN IF policies are written in \”plain English\” there is no way they can fit on 1 page, or 2 or probably even 3.
So, Joanna and Capital, I\’ll help you out. No one here is saying READING the policy will suddenly make it cover everything you want it to cover. What they ARE saying is that reading the policy is beneficial to the policyholder. If you don\’t see flood coverage on your policy and you know you need it, then you can ask about purchasing it. Earthquake coverage, theft, alien landings, etc. Read your policy FIRST and quit claiming IGNORANCE after a catastrophe that you are NOT covered for. If you live in a flood zone, you need flood coverage. BUY IT. Sure, there are a lot of bleeding hearts out there (mine bleeds sometimes too) to give you charity but don\’t rely on it. Prepare yourself. I know it is very expensive for some. I wish I could fix that, but I can\’t. Sorry.
The point wasn\’t about capitalization (I\’ll try my hardest to explain this to you). It was about Joanna rudely calling someone* an idiot, when her spelling and grammar made HER look like an idiot. You\’d think if you were calling someone a name you\’d make sure it wasn\’t a name that describes you as well. But, alas pot… meet kettle.
*Joanna\’s comment wasn\’t directed at anyone in particular so I do not even know specifically to whom she was referring.
I think you are missing the point, regardless if you read your policy and know what risk are excluded or what your deductible is, 5% deductible on wind damage or 10% deductible on earthquake doesn\’t change it and very few of us can afford anything else. We understand about a separate policy for flood coverage. And just what is Hurricane coverage (haha)! What kind of emergency fund would Big Bird need with a $20,000.00 deductible?
And by the way, sounds like you are the name caller!
if we just make insurer companies put their stuff in big print on one page, then more stuff will be covered, because less will fit on the page to say it isn\’t covered, and this will help all the people who cannot afford deductibles and out of pocket expenses and stuff. This will be much better and easier to understand.
unless they start using that really big paper I read about awhile back.
\”And by the way, sounds like you are the name caller!\” Ooh, good one Capital. What are you? 5?
No one here said anything about deductibles being too high, too low, too big, too short, blah blah blah. I didn\’t say the system was perfect, or even that it works. But, you obviously did not read what people wrote.
Do yourself a favor. Call Sylvan Learning Center. They can set you up with a tutor who can teach you reading comprehension. If you\’re lucky maybe Joanna will call too. Then you can become best friends forever. (My \”rude\” comments come from the frustration of people being called names for voicing their thoughts.)
Jewel, don\’t think you are the only frustrated person, don\’t think you like it when someone else makes a comment! From what I have read, you seem to be the one doing the name calling and no, I don\’t think you get the point yet!
\”From what I have read, you seem to be the one doing the name calling\” – How so? Because I called someone a name AFTER they called someone else a name? I take it back then. Her post was idiotic (not to mention rude). Is that better now?
Now, please tell me where else I have called someone a name. If you can\’t, then kindly shut up.
\”don\’t think you like it when someone else makes a comment!\” I have no problem with comments when they are not belittling someone for having a different opinion or are not inaccurate regarding another\’s point of view.
\”no, I don\’t think you get the point yet!\” Well, the problem seems to be that you DON\’T think. So, I guess I will consider the source.
I can see the future…
all exclusions on one page…
we need several policies to cover our house…
1. Fire policy
exclusion: any destruction but accidental fire
2. Wind policy
exclusion: any destruction but wind
3. Earthquake policy:
exclusion: any destruction but movement of earth (note: not to include sinkholes, that\’s policy 4)
4. sinkhole policy
excl: any destruct that don\’t involve sinkin\’, including earthquake that makes big crack that swallows whole house
5. theft policy: covers theft of house if someone steals it
excl: does not cover theft of stuff in house (that\’s in 6)
6. theft of stuff in house
excl: does not cover theft of house or detached structure and/or pool
7. meteor/falling object policy: damage must come from fallin\’ stuff from outer space
8. hurricane policy: only covers wind when accompanied by rain, but not wind only, and not rain that pools up and floods in from surge or levee rupture, river swellin\’, or sudden geyser
9. flood policy
excl: earthquakin, firein, theft\’n, rainin, sinkin,
10. terrorism policy: does not cover anything above except that actually caused by a terrorist provided he didn\’t cause an earthquake, hurricane, sinkhole, theif, rain, wind, electrical fire, fireball, or a really bad smell.
total cost:
1. 200.00
2. 200.00
3. 200.00
4. 150.00
5. 150.00
6. 150.00
7. 200.00
8. 200.00
9. 200.00
10. 200.00
Total Cost: $1850 per every $100000 you insure, with a 10% ded per policy.
Or, we could keep things like they is now.
Jewel, you are a gem. Thanks for the laugh. Joanna – no nerve hit. As for you J, please come back to this board once your IQ exceeds the IQ of a head of cabbage. Thank you.
Chad, sounds like a winner!
Better be careful how much paper we\’ll be using to put all this into print… just think how many trees this will take. And what will it be used for? To fill our landfills!
Chad, your posts make me smile no matter what. Your simplified approach to the simplified policy is exactly what is needed to clarify those darn confusing policies and all their exclusions that no one reads anyway.
In 1984 ISO came out with the easy to read 14 page HO policy. In 1991 they added 4 more pages making it easier to read. In the 2000 edition it has 22 pages. Have the additional pages made it easier to understand? It does not make Trent Lott or any other insured read the policy. We will always have the insureds (after the loss)who exclaim that if they knew the coverage for the loss was available, they would have purchased it, no matter what it cost.
In 1984 ISO came out with the easy to read 14 page HO policy. In 1991 they added 4 more pages making it easier to read. In the 2000 edition it has 22 pages. Have the additional pages made it easier to understand? It does not make Trent Lott or any other insured read the policy. We will always have the insureds (after the loss)who exclaim that if they knew the coverage for the loss was available, they would have purchased it, no matter what it cost.
um, speaking of poor Joanna, um…she has clients? I\’m assuming she means insurance clients. Based upon her command of issues and facts, it\’s not hard to surmise why she is baffled about things like deductibles; Joanna, if your an insurance agent, I\’m weeping for your poor clients. Please point their way to the ripcord and tell them to pull…Quick!
Otherwise, the thought of you breaking down and balling all over the paperwork while you explain to your poor client they won\’t be able to afford their \’EQ\’ deductible, wow, I bet you get allot of referrals.
\”I\’m sorry; I\’ve got tissues; this part, uh, this…I can\’t help it…it\’s your earthquake deductible…I\’m so so so so sorry; it\’s so high and it will be so difficult on you; I\’m so sorry those greedy insurers charge for these things; I\’m alright. No, really, don\’t look concerned; I\’m a professional. Now about the jewel…jew…jewellllry…it\’s only…only…cuv…covered up to 1000; I just can\’t take it; it\’s important stuff and they should just be giving you more coverage. No, don\’t you apologize; I have to sell this stuff for a living; some nites I can\’t sleep. If it wasn\’t for Oprah, well, I don\’t know. But those greedy b\’s should give you more coverage, and for less money. I\’m gonna call them on this one, as soon as I\’m done with you. NO, no, no, don\’t worry about me; I just get emotional when I see people paying for this overpriced crap I sell. Why? Well, I believe I can make a difference; I\’m better than most people because I can see thru the hipocracy of their lies. You know, I won\’t even accept a commission for this sale; I won\’t. It\’s just not right. Well, ok, but don\’t say I didn\’t offer. Now about that wind deductible; oh gosh…I just can\’t take it anymore. No no no no no no…I can\’t believe they\’re doing this…this is unbelievable…now they\’re adding another deductible…that\’s it, I\’m going back to retail; I\’m sick and tired of apologizing for their greediness all the time. Know what I get? Just a few measely percent, buy they get the rest; and you get all these deductibles. Here\’s your policy; good luck reading that thing; I\’ve heard even Trent Lott can\’t figure out his…so don\’t even try. And if you don\’t pay your premiums…boo-hoo-hoo…I understand they won\’t pay you anything, either…I just can\’t take it any longer…\”
I\’m asking again . . How is reading the policy going to protect the insured from an insurance company going insolvent when a catastrophic event occurs for which they do insure? How is reading the policy going to stop the insurer from balking on covered losses? And as for reading the policy – with all the money consumers spend they deserve to have a policy that takes 10 minutes to understand and it should be on the first page, the declarations.
Clients who are struggling financially complain about coverage, cost and the fact that they don\’t have enough choices. These are good people, making good choices. They can barely afford all the insurance they are required to purchase each month, every year (thousands of dollars). They\’ll never see it again unless they have a claim. It sounds like you could care less, and that their disatisfaction must be because they\’re not reading their policy and I must be a poor agent or else they would be content with high cost and minimal coverage. You\’ve turned a blind eye to the reality of what consumers are facing.
Better yet. Let\’s scrap the whole P & C industry and let the Federal Gov\’t have it. The industry is too diverse, with too many insurance companies and insurer\’s are constantly whining about profit. Consumer\’s need a break and this is where they should get it. I and a handful of insurers might be happier working with the Feds. I would rather sell life insurance for a profit. Premiums are reasonable and number of complaints are zero. In fact, I could sell more of it if it weren\’t for the damned expensive P & C premiums.
Why is an insurance policy so hard to understand?
Let’s start by defining the insured location. Sounds easy, right? The insured location is the premises that is described on the declarations page, easy right?
Does that definition change if part of the premises is being used in a business?
Does that definition change if you, the insured are temporarily residing in another residence?
Does that definition change if you are renting part of the property?
Now let’s look at an Exclusion which has been in the news.
We will not pay for physical loss resulting directly or indirectly from any of the following.
Flood, surface water, waves, tidal water, overflow from a body of water, or spray from any of these whether or not driven by rain.
Sounds pretty straight forward…
Why is this like this? Because unless every “I” is dotted and “T” is crossed, someone is going to say this is not what the policy says. Heck even when everything is spelled out some lawyer or politician will decide that’s not what the policy meant to say.
What Hurricane victims discovered was that they are in a system that allows insurer\’s to define what occurs first. Water over Wind. The insurers claim water came first, but they can\’t prove it. And since, conveniently, there isn\’t any Federal Regulation and not enough State regulation they simply decline the loss. And some just simply filed bankruptcy. How sweet. My question is why were they even allowed to sell insurance? Apparently, selling insurance is no different then selling an air filter inonizer.
Right on!! Do you think this fair?
Get a life.
Freak.
The bottom line truth is that flood insurance could be included in the contract but nobody would pay the additional premium. Therefore, the flood exclusion and yes, I do beleive it is fair.
Would you agree that people will many times say things they don\’t mean, while under extreme duress? The reality is they most likely wouldn\’t have been able to afford it. And I guess the lender\’s didn\’t understand the policies either, otherwise they would have required it. Right?
good point, dead people ususally don\’t complain about the life insurance they bought after they die.
You\’re not suggesting Joanna kill her clients? Maybe with her kindness?
Certainly she won\’t overwhelm them with any insurance proficiency.
Yea and the beneficiaries are happy.
What\’s your definition of insurance proficiency? Support your insult and tell me where I\’m wrong.
Based on the technology used in the US submarine fleet, and available exclusively from Oreck, this next-generation technology removes harmful particles as small as 0.1 microns. That\’s about 1/100th the diameter of a human hair. In contrast, HEPA filters only capture particles as small as 0.3 microns and can quickly clog up from the particles in the air. Once clogged, they become terribly inefficient and the filters need to be replaced. HEPA filters also tend to hold moisture in, which actually breeds mold and releases it back into the room.
If you like, you can by an air purifier and hurricane insurance at one of my convenient stores.
Hard to believe no survivors have ever complained they\’re not sure the dead guy would have taken more coverage if he had known what it really cost and what a bargain it was.
See, it\’s easier to underwrite for life policies, my dear insurance pal…we all have a 100% death rate; it just happens at different times.
Hurricanes, Lava Flows, tinfoil hats dropping from the sky, those things are harder to predict with certainty and this makes it more difficult to underwrite and predict than something like, say, a life expectancy chart.
So Joanna, you at once are correct, but have yet again proven yourself wonderfully ignorant of the simplicity of your statement. Perhaps yet you\’ll illuminate us all with a profound statement such as you feel more comfortable after a good nite\’s sleep, or the temperature\’s rise with the sun\’s ray\’s strike our part of the globe at a more direct angle…we anxiously await your next point, Joanna.
Joanna, you don\’t think these agents want to make it simple for the policyholder to read their policy. They just want the premiums and leave it up to the adjuster to explain the coverages! I bet I will hear a lot about this! Can\’t wait for the name calling! (haha)
to suggest that insurance insolvency is even something an insured should concern themselves with. Given the general lack of understanding by most policyholders regarding such simple things as coverage, exclusions, deductibles etc, insolvency is for the advanced class (made up of about 1% of the population – see insurance geeks). Wrong to suggest that insurers are unfair regarding what they collect and what they pay out, ESPECIALLY if in the next breath you say clients need to concern themselves with insolvency which only happens when what? Insurers don\’t collect enough premium for the risk. Wrong to (presumably) take a paycheck from an industry you think is screwing the public. I came from an engineering background, and one of the things I enjoy about insurance is that it
is straightforward. For those agents who want to truly help clients by educating them, there is no shortage of good work.
And there never will be. If you want to help people Joanna, apply yourself to meeting clients and helping them understand our industry. Then turn around and influence your company to move in a different direction if you think they are off track. Trying to convince the world that the insurance industry is ripping people off, and not the true safety net it really is, reveals something about you. I\’m not sure what.
If each of us who serve clients took that
approach we\’d be the ambassadors our industry needs now.
Excellent post Gill Finn!
I particularly liked your point on insolvency. I think Joanna\’s idea of how an insurance company should be run goes like this:
1) Collect premiums that the insureds will like. (I personally would like to pay $5 a year, how about you?)
2) Hurricane/Earthquake Bobby rolls through.
3) Insurance company only collected $2,000 and needs to pay out $2,000,000.
4) Insurance company is insolvent (can not pay all of their debts).
5) Insurance company files for bankruptcy.
6) Insureds don\’t even get their $5 investments back.
Funniest thing she said though…
\”I would rather sell life insurance for a profit.\”
Guess we know why she doesn\’t like the insurance company to be making all the money. Then she can\’t buy her Prada sunglasses.
*The above comment does not mean I am in favor of insurance companies not paying valid claims. But, if you live in a flood/earthquake prone area- BUY THE COVERAGE.
\”They just want the premiums and leave it up to the adjuster to explain the coverages!\”
That line is funny. A lot of insurance agents seem to embody that mindset (#1). Others are happy to explain coverages (properly even! #2), others try to explain coverages but insureds don\’t have time or don\’t even want to hear it (#3). Others try to explain coverages but really don\’t have a clue what they are doing (#4).
I think Joanna sounds like #1 and #4.
The part about adjusters explaining coverage (obviously after the fact) had me rolling. Good point!
Thank you Anne
If Joanna calls you a name, just consider the source.
They profit 99% of the time.
Whey they owe, they defend with high profile Attorneys.
They bully Americans and Own Officials
because they Grease Them In The Lobby.
It is not a secret. Campaign Contributions are clearly available.
If they would stop contributing to elections, stop spending millions on tv ads that claim good neighbors and good hands, and stop spending millions for the legal defense, they would be able to pay claims without blinking one eye.
We\’re tired of being treated like hound dogs then to be repremended by fellow Americans for fighting back is insult to injury. We got ours, you will get yours.
What a Victory to see the ole Boys in the Band, go after them and win too!
Let\’s hear it for the boys…MS won.
It\’s a start.
there are bad agents, and bad adjusters…and…gasp…bad insureds. There\’s bad people everywhere; that\’s why we need Batman and Robin, even if they\’re only comic book characters.
Simply because there is a bad example available does not allow for use of a onesizefitsall paintbrush to flush an industry. I see the claims end of the business; I\’ve dealt with thousands of plaintiff attorneys over the years. Some are crooks, some are great guys/gals who really care about their clients. Do we need them: yes, because without them, many folk will \’behave less appropriately\’. Are they always fair with me? No, but they say the same thing about me.
Gil made an excellent point: for those agents who take the time to explain and UNDERSTAND (the U word) there is allot of opportunity. Unfortunately, there are some order takers out there who don\’t explain.
Regardless, it doesn\’t excuse anyone from READING (the R word) the policy. And if you can\’t afford the coverage (like Joanna\’s clients who still buy life insurance so their kin can someday buy a HO policy from her), maybe you bit off more than you can chew on your property?
Gill never said anything about company profits to that end. Why should he explain that to you?
Claims that are legitimate should be paid. If yours isn\’t valid, that\’s TOO BAD.
The only thing I call into question is if the insurance companies are fair in deciding if a claim is legitimate. I am sure they have denied many valid claims.
Let\’s try this scenario:
You own a dry cleaning business. Someone comes in with a dry cleaning ticket that belongs to another store. They want to pick up their Armani suit. You don\’t have it; it\’s at the cleaners down the street. You\’re the most profitable dry cleaning business in town. I guess you would give them someone else\’s Armani suit if it made them shut up, huh? I mean, after all, you make lots of money. Why wouldn\’t you want to just give away $$$ (and valuable items) to people who don\’t hold the right ticket (ie. invalid claim)? Oh that\’s right, because you are trying to run a business.
P.S. I tried to dumb the scenario down as much as possible.
Chad,
You are (usually) a delight! I say that because I don\’t always like your posts ;) (and you can say the same about me). That part was just a little joke. I do love your posts; I don\’t always agree, but they are great nonetheless.
You\’re exactly right on your point about good and bad. There is good and bad in every industry. A chain restaurant in Chicago with bad service and roaches vs. the same restaurant in Detroit with immaculate surroundings and wonderful people, etc…
My FAVORITE part of your post though:
\”And if you can\’t afford the coverage (like Joanna\’s clients who still buy life insurance so their kin can someday buy a HO policy from her), maybe you bit off more than you can chew on your property?\”
I am sure Joanna will say that at the time of purchase the home was within their means. Of course, they had to take ALL of the money out of savings to buy the house with the extra bathroom. Now they can\’t afford to pay for it all. How many homes are going into foreclosure because people had BIG EYES (and smaller wallets) during the big housing boom in Florida the past couple of years? Savings are necessary for a reason (and no, I don\’t mean Coach hand bags Joanna).
I really liked this post. One of the best you\’ve scripted. :)
Thanks
P.S. I did love the life insurance post too. It made me fall out of my chair.
Rosie, where is your logic? I have a savings account, does it imply I am ripping off my creditors?
It\’s basic accounting. Carriers have homeowner divisions, auto divisions…they also pool the premiums and losses by state.
Louisana produced huge losses in 2005. But that doesn\’t mean a carrier could not be profitable in TX, MO, or Idaho. At the end of the year, they compare their premiums to their losses. If they took in more premium than losses and expenses, then it\’s a profit. If they paid more out…a loss.
Simply because a large loss to a carrier occurs in LA, MS, or FL, that does not imply losses were great elsewhere. It\’s called spreading risk. Regardless, it has nothing to do with the losses. If they are covered losses under the policy, they should be paid. If they are not covered, they should be denied. The fact that a carrier makes a profit does not deny them their duty to disallow those losses they do not feel are covered. Paying losses NOT covered under the policy would not be a smart practice.
Profit has not been banned yet in this country, at least not yet. Profit actually allows carriers to rebuild reserves. There have been many years where major carriers were losing money, yet I didn\’t see anyone complaining they were paying too many losses, or should be allowed to deny additional covered losses simply because they were losing money then.
The risk is different thoughout the country. Homeowners coverage has historyically not been a profitable business; many carriers offer it so they can keep customers in their auto lines; many prefer to buy their insurance from one carrier. Please note there are many large auto carriers who do not offer homeowners. If it was such a profitable part of the pie, they\’d all want to offer it.
thankfully. We call the other 1% insolvent. Joanna and Rosie seem to imply that profit is bad. Where are you birds from anyway? China, Cuba, Korea?
Do you both operate at a loss? What would you call it if you paid out each month more than you brought in? Bankruptcy. And if that happens to you two socialists in our country then you get your high priced attorney to bail YOU
out so that the rest of us can pay your way. Kind of like the Guaranty Association works for the insurance industry. You know, the insurers who run it right and charge (gasp) the right amount bail out the freeloaders. As far as high priced attorneys – how often is the contract really challenged. We pay from my little agency hundreds of claims every year. Neither my company or my insureds have seen fit to challenge the contract in fifteen years of agency.
Can there be disagreements over these contracts which, by the way, have evolved over hundreds of years? Hell yes. But just because two sides disagree doesn\’t mean the insurers are automatically wrong. How often do plaintiffs prevail?
And attorneys devise the contracts – who do you think will defend them? Who has a better understanding. You whiners don\’t like the defendents to have representation but conveniently overlook that the plaintiffs certainly do as well.
Quit complaining and do something yourselves. Our industry is a part of the solution, not the problem. By the way, what do you call 1000 attorneys at the bottom of the ocean? A good start.
Don\’t care if the Company made a profit
because you can\’t loose.
I care because thousands of people lost their business and were denied Interruption Benefits too.
These business owners had to apply to the SBA for loans, lost their homes & business. While the Insurance Companies that we paid, denied our claims and then refered to the loopholes hidden in the policy. Cleaver but shreud.
Why didn\’t the Insurance Industries apply to the SBA? They never had too,they denied claims, then allowed US to pick up the tab. Flood & Grants paid your tab.
You sat back like spiders, trying to figure a way to get out of this one and you fought this exposure, All of the way.
Business is Business.
Yes, you need & want profit. When you sell a product that is defective, it\’s a matter of time before you are made accountable for your mistakes and if there is intent to defraud, that makes your more accountable.
Can all of these people be wrong?
If they misread or did not read the policy, then why didn\’t the Agent explain to the Insured that they Do Not Have Hurricane Insurance if flood waters arrive.
Even though you have a Hurricane Deductible, don\’t think that you have Hurricane Insurance.
The Agent should have mandated flood insurance and explained this to their proposed insured.
Reiterating the fact that if you live outside of a flood zone, your homeowners insurance (is off of the hook) is voided and you will not be paid for wind claims.
You will not have a valid claim for hurricane damage if flood water is present. You will not be able to sue the company for denying claims.
Simple, Honest and Fair.
It\’s the right thing to do.
Seems you guys insist upon Getting One Over On People.
To claim this foul because Senator Lott would like you to put this in writing,
only shows that you insist upon hiding the most important
exclusions in your policy.
If the Industry would be honest, Lawyers would not be needed.
We are profiting from your lack of honesty
\”If they misread or did not read the policy, then why didn\’t the Agent explain to the Insured that they Do Not Have Hurricane Insurance if flood waters arrive.
Even though you have a Hurricane Deductible, don\’t think that you have Hurricane Insurance.
The Agent should have mandated flood insurance and explained this to their proposed insured.\”
I am sure lots of agents did try to explain. However, after reading your posts, I can see why you didn\’t understand them.
\”To claim this foul because Senator Lott would like you to put this in writing,
only shows that you insist upon hiding the most important
exclusions in your policy.\”
Why is it so hard to understand that FLOOD damage is excluded from a standard policy? If flood coverage wasn\’t excluded, they wouldn\’t need to offer it separately. The same goes for earthquake coverage, etc.
Duh…
\”We are profiting from your lack of honesty\” Do you mean we as in you and your fellow misguided citizens? If you do, then you REALLY make no sense.
Again, I can see why you don\’t understand…
\”The Agent should have mandated flood insurance and explained this to their proposed insured.\”
Oh yeah, and I am sure they suggested this too. But you didn\’t want to pay for it, right?
P.S. Great posts Chad and Gill… keep \’em coming!
Rosie, do you know what the figures are? I have to admit, I do not, but I know the vast majority, very high number, are paid.
So, the vast majority are paid, yet the insurance industry as a whole must have missed the devious memo where we deny and refuse to pay what we owe.
Now you say you don\’t care about profits, but earlier that was your argument, \’what about insurance profits?\’.
Your arguments shift like sands thru an hourglass.
HO policies have flood exclusions; sorry, but they are right there. If you want them on page one, I really don\’t give a rats, because I know the same whiners like yourself will still yell \’uncle\’ when you suffer a loss and it\’s not covered because it was some sinister plan between insurers and the Bush Admin to deny rightful benefits even though the flood exclusion has been in the HO policy for like a zillion years.
I love honest debate. You are not an honest person; you make a point, can\’t prove it, and move on to the next mindless scream fit. It used to be a little fun to poke you, but you\’re becoming a bore like your namesake. My recommendation is this:
read your policy. read your credit card statement. read the constitution. don\’t depend on CBS for all your information. maybe consider some counseling, too. And it\’s ok to have fun in life. (and profit if you can).
Rosey, thanks for this statement:
\”The Agent should have mandated flood insurance and explained this to their proposed insured.\” This is so stupid I couldn\’t leave it alone…should the agent force them to take lower ded, higher limits, vote Democratic? The agent CANNOT force coverages on their client!!!!!
Ever hear of the customer? The customer chooses what they buy, unless it\’s mandated by law. So contact your Democratic Congress and convince them to mandate flood coverage for everyone.
I can hear that conversation between the agent and the prospective insured now…
Agent: You are in an area prone to hurricane loss and while this policy covers the wind portion of the loss, flooding is excluded.
Insured: Ok, so what should I do?
Agent: I would recommend that you purchase a flood policy. For the value of your home, this a flood policy would cost you $XXXX.
Insured: You\’re kidding, I\’m not going to pay that much for a policy that only covers flood! Besides, when was the last time that we had a major hurricane come through?
Rosey, wake up. The common point and majority opinion in these posts is that YES, carriers should pay what is owed and deny what is not covered. You seem to imply by this latest post that no one in the insurance industry has any empathy for the many people that lost homes, businesses, etc. I for one empathize & sympathize with all of those that sustained injury & damage from the devastating storms in \’04 and \’05, especially Katrina. However, empathy does not equate to paying claims that are not covered. Did some insurers deny claims that should have been paid? Probably, and they are now paying in other ways for their poor claim handling. Does your policy actually say \”hurricane coverage\”? I do not think so. You either have a policy with specified causes of loss (of which hurricane is not specified) or you have an open peril policy that pays for all causes of loss except those specifically excluded AND YES FLOOD IS EXCLUDED. You may have a windstorm or hurricane deductible, which is higher because of the risk in your area, but you do not have \”hurricane\” coverage. If your carrier did not pay wind damage to your property, then you have a legitimate beef with them. Take it up in the courts as others have done. Do not expect Trent Lott and the likes to become the saviour for every person who did not purchase the proper coverage, and is struggling to recover through SBA loans, donations, handouts, charity, etc. I agree with Chad\’s post…you cannot paint the entire industry with your brush claiming every carrier is \’bad\’.
Rosey, I guess agents are too busy posting comments on the Journal to explain coverage to policyholders!
In testimony before the U S Congress 2/28/07, I.I.I. President Dr Robert Hartwig stated that the Insurance Companies had paid $40.6 Billion to settle over 1 million claims from Katrina. Does this sound like an industry that does not pay LEGITIMATE claims?
My definition of insurance proficiency is knowing that deductibles don\’t always have to come out of pocket, and then getting all worked up over \”finding money to save for deductibles\”.
I thought most agents knew that most (not, all) deductibles are simply \”deducted\” from the loss payout.
\”Rosey, I guess agents are too busy posting comments on the Journal to explain coverage to policyholders!\”- Anne
Hey Anne, not all of us are agents!
Thanks for the comment though =)
Maybe I should agree. It sure did seem like Joanna posted an awful lot of comments during the day. She probably doesn\’t have any clients though. :(
I have just fired Kim David as my new insurance director and will be appointing Joanna Eiermann that J O A N N A E I E R M A N N. She has the exact qualifications for the position. Her abilities to balme others and to engage in complete rhetoric with no direction or purpose other than to confuse and inflame her adversaries are impressive if not astounding. Do not worry about the paper I have invented a new process to make paper from Carbon Dioxide it will only cost us $52 per sheet a small price to pay to save trees and inform the public what is truely covered in the policy of insurance they already cant afford.
Hye mis-informed the trial bar -behind all these challenges and lead by Lotts kin Dickie boy gives much more to the the election process than does the insurance industry see the recent criinal conviction of Mississippi judges and lawyers. They dont even contribute they simply give loans and cash! If your going to point out corruption lets have an open discussion.
Anne, do you mean that if agent\’s explained the coverages that the insured wouldn\’t want to buy it? Is this why agent\’s don\’t want to explain coverage? Are you saying agents are dishonest? Now, why on earth do you feel this way?
Have you ever heard of E & O? If a client has an issue with an agent he is blessed, because he\’ll have coverage. However, they are S.O.L. if the company simply does\’t offer the coverage and you can\’t buy it any where else.
I won\’t call you any names but you need to wake up and smell the coffee.
\”I won\’t call you any names but you need to wake up and smell the coffee.\”- Joanna
Did you make some for Anne? That was nice of you. I\’ll have mine with cream and sugar please.
Not that office staff is any less important (or intelligent- except in your case!) but I knew you were just \”faking\” that you are a real, licensed insurance agent.
Don\’t you worry though. Administrative Professionals Day is on April 25th. You will get your kudos then. :)
I know you are proud of your prestigous degree but what about the insurers you can\’t find a rating with A.M. Best. There are too many mutual companies that don\’t have the reserve or enough reinsurance to pay for a catstrophic EQ in my state, but they can sell it as if they do. There isn\’t any mandate in my state that requires an insurer to file indicating it is keeping up with the reinsurance premiums. What about yours?
I,m beginning to think you don\’t have anything better to do then read your email all day. You still haven\’t answered any of my questions. I also feel that if you really had any integrity that you would have more to say about what you believe. I don\’t know about you but I send all my emails with a smile, because I know I\’m rattling your cage. Ta Ta for now, I\’ve got clients that need help understanding their policies.
\”There are too many mutual companies that don\’t have the reserve or enough reinsurance to pay for a catstrophic EQ in my state, but they can sell it as if they do.\”- Joanna
Where did you get that information from? Did you do research? Or, are you just making assumptions again because that is what YOU think happens? I don\’t know what state you live in (but it\’s far away form me so I am happy!) so I have no way of knowing if this is true.
Do insurance companies not raise premiums to gather more capital to hold in reserves for future claims? Joanna, you keep arguing that rates are too high. Then you argue that companies are insolvent. Hmm… you like to fight both ends of the stick don\’t you? If you live in CA (I am just naming an EQ state that is expensive to live in), why don\’t you tell your poor clients to move somewhere less expensive? Somewhere they can afford HO insurance coverage? That is what people on this board have suggested for those in hurricane \”zones\”. While it might not be feasible for everyone it is definitely for others.
I bet you look in the mirror and have fights with yourself, don\’t you?
I\’ve got work to do but couldn\’t resist responding to your email. Boy, you really are a ding dong. Life insurance proceeds are paid to the beneficiary and they would be the ones to complain and I haven\’t had one yet. Are you saying life insurance companies are complaining about profits?
You mean I\’m not going to live forever?
\”I don\’t know about you but I send all my emails with a smile, because I know I\’m rattling your cage.\”
First of all, this isn\’t e-mail. Secondly, I am obviously getting you more rattled, since your arguments are all scatterbrained, circular and most of all, make no sense.
\”Ta Ta for now, I\’ve got clients that need help understanding their policies.\”
Good, now pour the clients some coffee and tell them a licensed agent will be with them in a few minutes. Then, go back to your filing. :)
Oh yeah, and I did answer some of your questions. But, I guess the person who read these posts to you didn\’t bother to read those responses.
\”What\’s you\’re Earthquake deductible? Do you have an emergency fund to cover this? If you do, you are amoung the elite.\”
I don\’t have an EQ deductible. I don\’t live in an EQ state. But, if I did, yes, I do have an emergency fund. I call it savings (for emergencies, necessities). You call yours the Coach hand bag fund.
\”Are you telling me that most people should have no problem setting a side $20,000 to meet their 10% or higher EQ deductible if they only took the time to read their policy?\” Where on earth did you get that from? Ha ha ha… that\’s funny… no one said anything like that.
\”How is reading the policy going to protect the insured from an insurance company going insolvent when a catastrophic event occurs for which they do insure? How is reading the policy going to stop the insurer from balking on covered losses?\” Wow, you live in the land of make believe, don\’t you?
In closing, I posted this to you earlier:
\”Never said I did or didn\’t agree with you. Just wondered why you have to be so rude.\”
I don\’t agree with you though and I don\’t think anyone here can figure out your true point. People like you make me sad for the future of this country. I hope you don\’t have kids.
Newt Gingrich is right PAC money should be illegal. Give the legislature back to the people.
Hey AL, saw you last night on CSPAN. You\’re a work aholic and looks like you\’re taking in a little too much CO2, get some rest. Oh, by the way how much does this posistion pay and oh, I need a degree. I want to be an engineer and be real smart like Anne.
first she thinks…
Thought process: lets see…got to get back to clients; ij really getting on my nerves…why don\’t they realize my greatness? remember: life insurance…life insurance…life ins…oh, crap, this sap wants auto and homeowners. I\’m so sick of writing this stuff I could…oh, he\’s here…better get ready…
\”Oh, Hi client one, I\’m so glad to see you…I\’ve got your paperwork right over here…
I\’m sorry; I\’ve got tissues; this part, uh, this…I can\’t help it…it\’s your earthquake deductible…I\’m so so so so sorry; it\’s so high and it will be so difficult on you; I\’m so sorry those greedy insurers charge for these things; I\’m alright. No, really, don\’t look concerned; I\’m a professional. Now about the jewel…jew…jewellllry…it\’s only…only…cuv…covered up to 1000; I just can\’t take it; it\’s important stuff and they should just be giving you more coverage. No, don\’t you apologize; I have to sell this stuff for a living; some nites I can\’t sleep. If it wasn\’t for Oprah, well, I don\’t know. But those greedy b\’s should give you more coverage, and for less money. I\’m gonna call them on this one, as soon as I\’m done with you. NO, no, no, don\’t worry about me; I just get emotional when I see people paying for this overpriced crap I sell. Why? Well, I believe I can make a difference; I\’m better than most people because I can see thru the hipocracy of their lies. You know, I won\’t even accept a commission for this sale; I won\’t. It\’s just not right. Well, ok, but don\’t say I didn\’t offer. Now about that wind deductible; oh gosh…I just can\’t take it anymore. No no no no no no…I can\’t believe they\’re doing this…this is unbelievable…now they\’re adding another deductible…that\’s it, I\’m going back to retail; I\’m sick and tired of apologizing for their greediness all the time. Know what I get? Just a few measely percent, buy they get the rest; and you get all these deductibles. Here\’s your policy; good luck reading that thing; I\’ve heard even Trent Lott can\’t figure out his…so don\’t even try. And if you don\’t pay your premiums…boo-hoo-hoo…I understand they won\’t pay you anything, either…I just can\’t take it any longer…would you rather buy some life insurance from me? It\’s more profitable and I understand it better. Please, I\’ll quit crying if you take life instead of the homeowners stuff; it\’s a ripoff anyway, it has deductibles and it\’s really misleading…not like Life Insurance that only pays when you die…well, yeah, that is kind of wierd, but I guess they figure it sells better if they don\’t call it death insurance…Yes, thanks, I made it myself…the great thing about aluminum foil is it absorbs colors and light; when I wear this hat, it matches whatever else I wear that day…plus it keeps the rain off my head and it keeps the government from being able to read my mind, even though it would be a real short book…snort snort…..I can\’t believe I said that! um, can I have the kleenex box back? I have another client coming in and I\’ll probably…prob…probably need it…again…sigh…\”
thoughts: I can do this job, I know I can…I\’m smart enough, good lookin\’ enough, dress well, nice hat, and people really really like me…
Yaaaaawn.
I thought you had work to do Joanna…
The filing drawers are calling your name. Good thing your boss doesn\’t care if the files are in alphabetical order or not…
Do you know how many insurance companies are in your state? Do you know which ones are rated? Is there a guarantee fund in your State? Which companies are admitted? Can you get the financials on all the insurers selling P&C? What\’s the catostrophic exposure in your state? And do your insurer\’s have this exposure covered in their policies? How can you find out if your insurer has enough reinsurance or if they are paying it each year on time?
TRIVIA QUESTION: What premier insurance company let their reinsurance lapse right before the 1994 Northridge Earthquake in California? No, I won\’t give you the answer, do your own research.
Don\’t convince me I\’m wrong convince yourself.
\”Do you know how many insurance companies are in your state? Do you know which ones are rated? Is there a guarantee fund in your State? Which companies are admitted? Can you get the financials on all the insurers selling P&C? What\’s the catostrophic exposure in your state? And do your insurer\’s have this exposure covered in their policies? How can you find out if your insurer has enough reinsurance or if they are paying it each year on time?
TRIVIA QUESTION: What premier insurance company let their reinsurance lapse right before the 1994 Northridge Earthquake in California? No, I won\’t give you the answer, do your own research.
Don\’t convince me I\’m wrong convince yourself.\”
Ask me if I care. I already know you have no clue what is going on here… If you can\’t even follow simple comments then there is just no hope for JOANNA EIERMANN. And your future is in flipping burgers… better practice your \”Would you like fries with that?\” line…
Why don\’t you explain health insurance to me? Workers Comp? Fidelity and surety bonds? Pensions? 401K? The price of tea in China?
Pardon me for being rude but you are hurtful in your comments as well. Your answers are not satisfactory and my point is that the insurance industry needs federal regulation without bureaucracy. There needs to be fewer insurance companies (consolidation of the insurance companies), so that the premier companies are able to serve their clients better with the right coverage/cost and achieve profitability.
And if this happens it would be in the best interest of all children.
If you don\’t understand your insurance call your agent and You better hope I\’m not serving you a burger with special sauce.
\”Pardon me for being rude but you are hurtful in your comments as well. Your answers are not satisfactory and my point is that the insurance industry needs federal regulation without bureaucracy.\”
My original problem with you wasn\’t in what you said, but in how you said it. Why do you have to call someone an idiot? You can just say \”I disagree because…\”
My answers are not satisfactory? I was not arguing with your points to begin with but rather your poor attitude. This is the most coherent thought you have posted on this thread. I never claimed I had all encompassing knowledge of the HO insurance industry. That is why I haven\’t commented on everything you have said… I don\’t sell homeowners insurance, but I do have it. Asking me to educate you or answer your questions when I don\’t have the background is like you explaining the in depth workings of mortgages to me… But, just because I don\’t sell HO insurance doesn\’t mean I can\’t post thoughs, questions and the like on this article.
P.S. No, I don\’t have work to do so I am counting the hours until it is time to go… 3 more hours left…
\”If you don\’t understand your insurance call your agent and You better hope I\’m not serving you a burger with special sauce.\”
I never said I didn\’t understand *my* insurance. Where do you come up with this stuff Joanna? Special sauce? That was a good one. Funny funny!
I lied, imagine that. Maybe, I\’m not Joanna Eiermann after all. I just broke into her email during spring break. God only knows.
Ok you\’re not an idiot, just corny.
Just kidding.
please stand up?
I love how we can post as any name we want… fun fun fun
How will you know whose standing? Can you trust your own judgement and put two and two together? Better yet, can you defend your own judgement?
Come on AL, where are you? Are you the Former Vice President or are you just pretending?
\”How will you know whose standing? Can you trust your own judgement and put two and two together? Better yet, can you defend your own judgement?\”
Are you looking in the mirror right now? Because I know you are not directing those comments at me.
I obviously do not know everything but I have not twisted words or invented things out of thin air… I can defend anything I say because I research things before I give them as facts… and even my opinions can be backed up with facts or other information. Oh and I don\’t talk in circles like you ;) By the way, I am smart… does your IQ break into the double digits? :)
*yes, I know the song wasn\’t intended to be about Joanna, but it did fit…
Joanna, why do you change the context of everyone\’s post? What I meant is, if agent\’s explained the coverage, maybe policyholders would get proper coverage! Actually what I meant is, agents… get off computer and help the policyholder! And yes, I know what E&O is and S.O.L., with your attitude, I hope you have E & O.
Get over it, you don\’t have to get angry if others post their opinion. You know what they say about opinions, everyone has one!
Grow up. You\’re only presuming that I\’m angry. What if the coverage is not available? What say you about that? It\’s so easy to blame the agent, why don\’t you try something more challenging?
\”TRIVIA QUESTION: What premier insurance company let their reinsurance lapse right before the 1994 Northridge Earthquake in California? No, I won\’t give you the answer, do your own research\”
no research necessary, but not sure what this trivia has to do with anything…and…this wouldn\’t have happened if all the exlusions were spelled in really big letter on a really big piece of paper that Trent Lott could read in the dark, right Joanna?
Double Jeopardy Trivia: What… is the air-speed velocity of an unladen swallow?
I suspect you are, as only a Farmers agent would consider lumping Farmers in with the word \’premier\’.
There is coverage for almost anything, if you are willing to pay the price. Joanna, I think you need to grow-up and get a life!
Boy, Joanna\’s really getting under your skin when you feel the urge to imply to a complete stranger that your I.Q. is in the double digits. There, there. Of course your smart. By the same token I\’m so confident that if you search for the facts of my questions in your state your I.Q will get even higher.
I now understand better…you just might be a Farmers agent. No wonder you have such a bitter perspective; you\’re probably trying to sell the product of one of the worst (in my personal opinion) carriers in the country…please, for you own sanity, try another carrier, or go independent. Unless you have twenty years or something, run for cover!
\”Boy, Joanna\’s really getting under your skin when you feel the urge to imply to a complete stranger that your I.Q. is in the double digits.\”
You are definitely not wording that comment properly. I didn\’t imply YOUR IQ was in the double digits, nor that mine is… (mine is in the triple digits, thanks). I asked if yours had yet REACHED double digits… OK, anyway, on to what Anne said…
You really do take people\’s posts out of context.. (Good post Anne)
What coverage is not available Joanna? Please tell me and then maybe we can answer your question (you know when it\’s not completely vague).
You still haven\’t schooled me on health insurance, fidelity and surety bonds, workers comp and the price of tea in China. When can I expect my first lesson?
Thanks!
\”There is coverage for almost anything, if you are willing to pay the price.\”
Exactly! Unfortunately, we have seen through Joanna\’s previous posts that she* is not willing to pay the price. It is too high. So, let\’s pay $5 each and then cry when the insurers are insolvent and can\’t pay out the claims.
*and apparently her clients… by the way, it seems you do live in CA Joanna… so tell your poor clients if they can\’t afford HO (and EQ) insurance, sell their house and move… if the average price in their area is $500k and up, they will be able to live quite nicely in Tennessee. Or, they could move to Tennessee and p*ss their money away there too.
African or European…I don\’t know-0-0-0-0
Al, you are the sharpest presidential candidate on this web blog.
Why do you say I must be a Farmers Insurance Agent? Why are they one of the worst to sell for?
State Farm and Allstate aren\’t winning any PR awards this year from their policy holders.
Thanks for the compliment and I would be more than happy to help answer your questions if you could be a little more specific. Although, policies and coverage differ from state to state as you may already know. Ya know.
Oh, and your mimicking reminds me of a child with a high I.Q.
well, lets see:
1. you quizzed on something most wouldn\’t know unless they were associated w/ Farmers or were associated. (Northridge reinsurance)
2. you mentioned \’premier\’ in your quiz; that\’s a Farmers internal propoganda buzz word.
3. Farmers is knows for reaching for extraordinary methods to \’massage\’ values out of claims to pay less, or do drive by denials on HO losses; I wouldn\’t be surprised if you have tired of trying to explain to your customers they didn\’t have hail damage because the claim rep drove by and didn\’t see it from their car.
4. Farmers reserve/surplus has been known to shrink faster that a global warmers assessment on the Antarctic icepack
5. Farmers agents have a real tough time competing in the market; their product is typically overpriced, if their insured makes a claim…yikes. The only reason they (the company) probably survive is the \”I\’ve always had my insurance with Bob Smith with Farmers because he\’s a good guy\” customer.\”
6. I\’ve known a few FIG agents over the years…they haven\’t been too happy.
7. You sound like a captive agent; captives agents with this company would be frustrated, unless they\’re getting ready for retirement.
***some wonderful people work with FIG, however, historically, their upper management does not have a long term vision, very myopic. Many stopgap measures over the years designed to stop the \’bleeding\’. The reinsurance fiasco prior to Northridge is a good example.
Some agents have it easier than others; I don\’t envy those with this company. Good luck, but I\’ve met several agents who cannot make livings with this company.
I know there are some real successful agents out there; it depends on where you are geographically. I\’m sure in some markets, they are competitive. They are not in my market (middle west state).
This is getting boring, lets start a new subject on a recent Insurance Journal!
How intriguing. You\’re much smarter than the rest and I would be feeling pretty confident too if I were you. So let\’s recap on what we\’ve learned thus far. Agent\’s aren\’t good at explaining coverage, policy holders don\’t know how to read, Farmers is a bad company, Joanna Eiermann is shameful and stupid, Anne is an engineer and Jewel has a triple I.Q. and probably gained 5 lbs from lunch. Oh, and Al Gore sounds like a bird.
What do you think about State Farm?
no, I don\’t think most agents fail to explain coverages, I believe (yes, it\’s a belief) most customers fail to listen, or they are in too much of a hurry, or they are simply price shopping.
There are ways to deceive a customer into a purchase or renewal, however, that represents risk to the agent.
p/c is very price competitive; most people don\’t want to pay any more than they have to for coverage they hope they never use. Some agents don\’t compare apples to apples; there are people running around with assets out the yingyang, yet they have a bare minimal policy (25/50/10 in my backyard). Or, they undervalue their house. Replacement cost is typically hire than value. Most customers aren\’t close to realizing that, so an unethical agent can do some major damage.
In regards to State Farm, I do have concerns they have some agents who are little more than order takers. I suspect their service ratings make them pretty much middle of the road, but they\’re the big guy, so it\’s easy to jump on them. I\’m still stumped as to what occurred in the Gulf states; my guess would be some bad engineers and independent adjusters were hired who did little more than drive by a property due to the sheer numbers they had to deal with; why the errors would not be corrected and dealt with one by one I can\’t answer, but not fairly addressing those claims puts State Farm in a very risky position. I have no idea on what percent they may not have been fair with; my guess is it\’s extremely low. But that still leaves State Farm responsible if a claim was wrongly denied.
Al Gore is simply educated in the important ways of the world, such as knowing dialogue from Monty Python and the Holy Grail. I have no idea if she sounds like a bird, but with the weight gain I doubt he whistles in the wind.
I speculate that the term \”Federal Regulation\” is taboo for you. Although, I do appreciate your response and very much like your wit.
Have a good day.
The State Farm undervaluing and denial of claims was from the TOP, not independents or engineers. Thy made a conscious decision to deny slab cases in their entireity and to my knowledge 99-100% were denied. The non-slab cases were evaluated RELATIVELY fairly, with some exceptions.
Nationwide played the same game as State Farm.
How do you feel about Federal Regulation?
not real crazy about federal regulation, also note the field of carriers is shrinking with mergers and acquisitions.
there are allot of programs promoting accountability out there (doi\’s, sox regs, courts, etc). But you guessed that already.
If it is proven orders for unwarranted denials came from up the food chain with the Farm or anyone else, then those folks should do jail time.
My motto has always been: PAY WHAT WE OWE AND NO MO. Simple, but it would prevent 99.9% of the bull we read about.
Have a great weekend.
Chad: You quote the State Farm motto, \”pay only what we owe, no more, no less\” and they do not stand up to it. Are you State Farm? It is a catchy slogan but entirely untrue with State Farm as they reside in their own world, oblivious that there is anyone or anything other than State Farm.
no, carrier State Farm for my HO and auto in the past, but never my employer.
Didn\’t know they stole my motto. Some neighbor!