First and most importantly, I have a great deal of empahty for those homeowenrs and contractors dealing with the CHINESE drywall. But dictating insurance policy porvisions to companies for something that is not even a covered loss sure sounds like political posturing for a run for Senator. If Rep Melancon would maybe impose tarrifs or monetary sanctions against China and the manufactures or even the importors of this tainted drywall, the responsible parties, that would be a first step. We know this is not going to work or at the very least a very long process down an unsure road.
These people need their homes repaired NOW. Since our government is in the giving money away business, just allow the money that AIG and some of the car companies are going to be paying back go into a fund to be adminstered by a board of retired military construction personel from both states. The board will only have a three year life span and and they hire crews and make sure the every home that has made a claim for chinese drywall is repaired.
If not it will be interesting to watch how many of the houses either go vacant and are foreclosed or by unacts of God catch fire. Then the insurance that Rep Melancon dictates to provide coverage has to payout, and then all of our home insurance rates go up.
so, where are going to stop these inports? how many more products will come along and not be valid for use, whether personal items or otherwise? when are we going to stop foreign factories making our products safely stateside? folks need jobs here stateside, look at the unemployment rate. folks just need to take a job with less pay to work and make ends work. as americans, we can make our products meet the safety requirements. we can make our country grow.
the problem with manufacturing in this country is unions. they want too much. it’s easier and cheaper to deal with overseas labor. unions were formed during the industrial revolution due to workplace safety issues. they have gotten away from that founding principle. until they get more reasonable with their demands, we will have these problems.
They are NOT trying to make the drywall covered. They are trying to keep the insurance companies from canceling their policies for something that ISN’T covered! Duh! I fully support the bill, and I work in insurance. Insurance companies will do anything to get off those risks, even though they aren’t going to cover the losses anyway. It’s BS that they’ll try and use vancancy as a reason. This is just keeping the insurance industry from kicking these people while they are down. Insurance companies could learn to use a little empathy and their profits would skyrocket because maybe, just maybe, people would actually appreciate insurance and pay a higher premium for an empathetic insurance company.
The reason the insurers want to cancel the policies – and should be able to – is because the suits will contain “potentially covered counts” just to get the insurer to have to defend….the fact that it’s not covered doesn’t matter when your defense costs are $200,000 per file! Expenses count too!!!!!!! These insurers know they are going to be targets, and want out. I can’t say I blame them. Particularly in a liberal state like Louisiana where liberal judges and politicians simply want to dump the expense on the insurer.
Insured’s will NEVER empathize and appreciate insurance companies, thus causing them to be “more profitable”. Good business decisions on the part of the insurer – like getting out of Chinese drywall related risks – is what will financially benefit the insurance company. It’s no different than getting out of hurricane prone areas if you are averse to that risk, or not writing bars, because you don’t want that risk.
Insurance companies want off these risks because they are a moral hazard. Homes with Chinese Drywall are not being repaired by the carriers yet their value has plummeted not only because of the economy but because of this issue. There are disclosure requirements in EVERY state where Chinese Drywall has been located thus to sell the property you have to tell the potential buyer. They can’t secure insurance thus no sale. Seven homes identified as having Chinese Drywall have burned to the ground with accelerants being a factor in at least 5 of the homes. In those situations the mortgage holder gets paid, the HO gets out from under the debt and the insurance carrier gets screwed. I understand the effort to prevent insurance carriers from cancelling policies because that subjects the HO to foreclosure for not having insurance. Additionally Judge Fallon recently ruled in the multi-district litigation that all homeowners with Chinese Drywall claims must have validation of the presence of Chinese Drywall thus the HO carrier must pay for an inspection for a problem that isn’t covered by insurance. So tell me…what is the solution? My recommendation is a “Super-Fund” established by the Federal Goverment with a 3-year life-span and have claims paid by HO carriers and the carriers reimbursed via the “Super-Fund”. That way you can validate the repairs have been made. That alleviates the problem for everyone. If we can spend billions of $$$’s for the TARP program we can allocate this pittance to resolve this issue. The Federal Goverment let this product come into this country and they have the capacity to limit products coming in from China and would have the motivation to do so if they were held accountable for this debacle. Just an opinion…
I don’t think the Federal Government is the solution. They aren’t going to “learn” anything from it, because the “Federal Government” is my and your tax dollars, not theirs.
The government is responsible for ALOT OF MESSES in this country, but that does not mean that taxpayers can and should have to pay for it. It doesn’t mean, of course, that they shouldn’t take situations of massive product defect seriously, particularly in consideration of what we allow to come into this country.
Has anyone ASKED the Chinese makers if they would be willing to contribute to a resolution? They just might, if they thought we were going to ban their goods in the future. A voluntary contribution would seem like the best outcome, as it penalizes the proper resonsible party.
The Consumer Product Safety Commission recently agreed that Chinese drywall People with Chinese drywall manufactured by Knauf Plasterboard Co. have until Dec. 2 to join a lawsuit against the company. Rather than go through a lengthy legal process, join this lawsuit very easily. The following Web site will give you everything you need and help you file a claim and get some closure on this difficult and costly time: http://www.Chinese-drywall-answers.com
It seems there are many who think as I do, or I think as they do, which ever.
I work in the insurance industry also and I work storms all over the USA.
I agree with Boo Ho, Joe and many of the others that insurance companies do not owe this. I also agree that it is not the Federal Governments job or responsibility to go to the insurance company and tell them what they can or can not do. I wonder why it is on every aspect of injustice in america such as a contractor ripping off people, a criminal stealing, a white collar guy ripping off the company, a broker ripping off a client, a baseball player taking steroids, a health insurer charging to much or almost anything you can name in todays world where someone is harmed by anothers coniving ways to harm someone in such a manner so as to benefit themselves.
Then the government wants to make new legislation and laws to deter everyone and it in turns cost the taxpayers more money in the process causing them harm in their quality of life.
My point is it seems many of us agree on this. Why then are we still electing self serving congressmen and senators?
See if you agree with this as to protect the consumers of america if goods come form overseas or foreign countries.
Have anyone who brings goods into this country pay a premium for an insurance policy so that when they have a defective product a claim is made. Then that company would have to pay a higher premium until they show they are putting out a quality product. Then those responsible for products such as chinese drywall are held responsible.
It is the same also with criminals, make them pay a higher price for their wrongdoings, don’t change laws or make resolutions that cost businesses more and indivduals more in what they buy.
I read yesterday about a new side air bag being mandated in new cars. I would suspect it is Insurance Lobbyist asking for htis so as to save insurance companies money and the representatives of Congress are going along because they get campaign contributions. Again this is selfserving to the elected official. it seems like they want their name in the recordbooks as sponsoring a bill instead of just doing their job and making sure the people are taken care of.
On the air bags, I agree with the one post of people have to be resopnsible for themselves and make reference to that. You can’t keep making everone pay for the few who are inresponsible in driving a car. Accidents do happen but most are due to the driver of that car, not most americans who obey the speed limits.
I could go on and on but I hope you get the message.
We need new representation in Washington that go with the majority of the USA.
Well, we knew this was coming. FL and the other wet states will be next.
No matter what happens, the insurance industry is going to look like the bad guy. As always.
First and most importantly, I have a great deal of empahty for those homeowenrs and contractors dealing with the CHINESE drywall. But dictating insurance policy porvisions to companies for something that is not even a covered loss sure sounds like political posturing for a run for Senator. If Rep Melancon would maybe impose tarrifs or monetary sanctions against China and the manufactures or even the importors of this tainted drywall, the responsible parties, that would be a first step. We know this is not going to work or at the very least a very long process down an unsure road.
These people need their homes repaired NOW. Since our government is in the giving money away business, just allow the money that AIG and some of the car companies are going to be paying back go into a fund to be adminstered by a board of retired military construction personel from both states. The board will only have a three year life span and and they hire crews and make sure the every home that has made a claim for chinese drywall is repaired.
If not it will be interesting to watch how many of the houses either go vacant and are foreclosed or by unacts of God catch fire. Then the insurance that Rep Melancon dictates to provide coverage has to payout, and then all of our home insurance rates go up.
I thought the states were responsible for regulating insurance companies….silly me.
So, now the legislators think they can just snap their fingers, write a law, and that law will change the terms of a previous contract?????????????
Give me a break!!!!!!! It’s NOT COVERED, INSURANCE COMPANIES DID NOT CHARGE FOR SUCH A RISK, AND THEY SHOULD NOT BE THE ONES TO PAY FOR IT.
The insanity of these liberal politicians continues!!!!!!!!!!!!!!!!!!!!!!
Louisiana = Welfare State – and no wonder with politicians like this who don’t abdicate personal responsibility.
so, where are going to stop these inports? how many more products will come along and not be valid for use, whether personal items or otherwise? when are we going to stop foreign factories making our products safely stateside? folks need jobs here stateside, look at the unemployment rate. folks just need to take a job with less pay to work and make ends work. as americans, we can make our products meet the safety requirements. we can make our country grow.
the problem with manufacturing in this country is unions. they want too much. it’s easier and cheaper to deal with overseas labor. unions were formed during the industrial revolution due to workplace safety issues. they have gotten away from that founding principle. until they get more reasonable with their demands, we will have these problems.
They are NOT trying to make the drywall covered. They are trying to keep the insurance companies from canceling their policies for something that ISN’T covered! Duh! I fully support the bill, and I work in insurance. Insurance companies will do anything to get off those risks, even though they aren’t going to cover the losses anyway. It’s BS that they’ll try and use vancancy as a reason. This is just keeping the insurance industry from kicking these people while they are down. Insurance companies could learn to use a little empathy and their profits would skyrocket because maybe, just maybe, people would actually appreciate insurance and pay a higher premium for an empathetic insurance company.
The reason the insurers want to cancel the policies – and should be able to – is because the suits will contain “potentially covered counts” just to get the insurer to have to defend….the fact that it’s not covered doesn’t matter when your defense costs are $200,000 per file! Expenses count too!!!!!!! These insurers know they are going to be targets, and want out. I can’t say I blame them. Particularly in a liberal state like Louisiana where liberal judges and politicians simply want to dump the expense on the insurer.
Insured’s will NEVER empathize and appreciate insurance companies, thus causing them to be “more profitable”. Good business decisions on the part of the insurer – like getting out of Chinese drywall related risks – is what will financially benefit the insurance company. It’s no different than getting out of hurricane prone areas if you are averse to that risk, or not writing bars, because you don’t want that risk.
ARE THESE HOMES REALLY “VACANT”?
Insurance companies want off these risks because they are a moral hazard. Homes with Chinese Drywall are not being repaired by the carriers yet their value has plummeted not only because of the economy but because of this issue. There are disclosure requirements in EVERY state where Chinese Drywall has been located thus to sell the property you have to tell the potential buyer. They can’t secure insurance thus no sale. Seven homes identified as having Chinese Drywall have burned to the ground with accelerants being a factor in at least 5 of the homes. In those situations the mortgage holder gets paid, the HO gets out from under the debt and the insurance carrier gets screwed. I understand the effort to prevent insurance carriers from cancelling policies because that subjects the HO to foreclosure for not having insurance. Additionally Judge Fallon recently ruled in the multi-district litigation that all homeowners with Chinese Drywall claims must have validation of the presence of Chinese Drywall thus the HO carrier must pay for an inspection for a problem that isn’t covered by insurance. So tell me…what is the solution? My recommendation is a “Super-Fund” established by the Federal Goverment with a 3-year life-span and have claims paid by HO carriers and the carriers reimbursed via the “Super-Fund”. That way you can validate the repairs have been made. That alleviates the problem for everyone. If we can spend billions of $$$’s for the TARP program we can allocate this pittance to resolve this issue. The Federal Goverment let this product come into this country and they have the capacity to limit products coming in from China and would have the motivation to do so if they were held accountable for this debacle. Just an opinion…
I don’t think the Federal Government is the solution. They aren’t going to “learn” anything from it, because the “Federal Government” is my and your tax dollars, not theirs.
The government is responsible for ALOT OF MESSES in this country, but that does not mean that taxpayers can and should have to pay for it. It doesn’t mean, of course, that they shouldn’t take situations of massive product defect seriously, particularly in consideration of what we allow to come into this country.
Has anyone ASKED the Chinese makers if they would be willing to contribute to a resolution? They just might, if they thought we were going to ban their goods in the future. A voluntary contribution would seem like the best outcome, as it penalizes the proper resonsible party.
The Consumer Product Safety Commission recently agreed that Chinese drywall People with Chinese drywall manufactured by Knauf Plasterboard Co. have until Dec. 2 to join a lawsuit against the company. Rather than go through a lengthy legal process, join this lawsuit very easily. The following Web site will give you everything you need and help you file a claim and get some closure on this difficult and costly time: http://www.Chinese-drywall-answers.com
It seems there are many who think as I do, or I think as they do, which ever.
I work in the insurance industry also and I work storms all over the USA.
I agree with Boo Ho, Joe and many of the others that insurance companies do not owe this. I also agree that it is not the Federal Governments job or responsibility to go to the insurance company and tell them what they can or can not do. I wonder why it is on every aspect of injustice in america such as a contractor ripping off people, a criminal stealing, a white collar guy ripping off the company, a broker ripping off a client, a baseball player taking steroids, a health insurer charging to much or almost anything you can name in todays world where someone is harmed by anothers coniving ways to harm someone in such a manner so as to benefit themselves.
Then the government wants to make new legislation and laws to deter everyone and it in turns cost the taxpayers more money in the process causing them harm in their quality of life.
My point is it seems many of us agree on this. Why then are we still electing self serving congressmen and senators?
See if you agree with this as to protect the consumers of america if goods come form overseas or foreign countries.
Have anyone who brings goods into this country pay a premium for an insurance policy so that when they have a defective product a claim is made. Then that company would have to pay a higher premium until they show they are putting out a quality product. Then those responsible for products such as chinese drywall are held responsible.
It is the same also with criminals, make them pay a higher price for their wrongdoings, don’t change laws or make resolutions that cost businesses more and indivduals more in what they buy.
I read yesterday about a new side air bag being mandated in new cars. I would suspect it is Insurance Lobbyist asking for htis so as to save insurance companies money and the representatives of Congress are going along because they get campaign contributions. Again this is selfserving to the elected official. it seems like they want their name in the recordbooks as sponsoring a bill instead of just doing their job and making sure the people are taken care of.
On the air bags, I agree with the one post of people have to be resopnsible for themselves and make reference to that. You can’t keep making everone pay for the few who are inresponsible in driving a car. Accidents do happen but most are due to the driver of that car, not most americans who obey the speed limits.
I could go on and on but I hope you get the message.
We need new representation in Washington that go with the majority of the USA.