Anybody in industry could see this happening from a mile away.
They are going to join the likes of Dallas National (Freestone), Tower, and a host of other carriers with terrible underwriting procedures on the garbage heap before too long.
I talked to their reps at a trade show a couple months back and it was frankly hilarious how much they were trying to spin the impending doom of the paper in a positive way. I feel bad for the reps themselves if they lose their jobs, but their product was never going to be sound.
Now we will see who will write all these undesirable home health care accounts. I don’t see any A rated carriers throwing their hat in the ring.
About 8 months ago, they approved a deli risk I submitted with a 1,300% loss ratio. I thought to myself, “Well, this must have slid through the cracks.” Nope… Just desperate from premium dollars…
Patriot National was ridiculous. Guarantee, the only insurance paper that they ever used to provide NON-RATED quotes… the best part about it was “WE CHOOSE NOT TO BE RATED” by AM Best. Oh really? You choose constant scrutiny every time you present a quote to someone wondering why they aren’t rated? They also kept insisting they weren’t bottom of the barrel underwriters yet any risk that wasn’t bottom of the barrel would qualify for an AM BEST RATED PAPER…
Wouldn’t be surprised if people end up in jail over this company.
Folks should end up in jail. They stole from the company and gave giant paydays to the CEO and CFO when they “resigned.” 250 people lost their jobs today, by emails.
I just read that Steve Mariano received $15M directly from Guarantee insurance over the last few months with no discernible benefit to Guarantee Insurance to do so…
When they hired my new brother-in-law as an VP Executive for PN with no college education and a very sketchy past job history I knew something was wrong. Guy is a top BS artist and sat around with no job living with his mother for a long time
Then once hired one piece of bad news after another.
I had a broker tell me today that he hasn’t gotten commission from them in months. Apparently he is owed about $10k,lol! He wasn’t even pissed, just knew he wasn’t going to see a dime of it.
where are my surgeries I’ve been waiting on for months ? where is my loss of income check ? it’s been almost almost a month since the last one..who’s going to buy me some food ? who’s going to pay my phone bill and vehicle insurance? I want some answers now ! where can I pay a visit to this CEO? I need his address and phone number ..who is responsible for all the injured people like me that have no other income ?
I was audited from period (8-13-16 through 8-13-17) was due a refund 0f 5248.00 on Oct 6, 2018 before they went out of bussiness. Its now 3-14-18 no refund I want the address too!
Anybody in industry could see this happening from a mile away.
They are going to join the likes of Dallas National (Freestone), Tower, and a host of other carriers with terrible underwriting procedures on the garbage heap before too long.
I talked to their reps at a trade show a couple months back and it was frankly hilarious how much they were trying to spin the impending doom of the paper in a positive way. I feel bad for the reps themselves if they lose their jobs, but their product was never going to be sound.
Now we will see who will write all these undesirable home health care accounts. I don’t see any A rated carriers throwing their hat in the ring.
About 8 months ago, they approved a deli risk I submitted with a 1,300% loss ratio. I thought to myself, “Well, this must have slid through the cracks.” Nope… Just desperate from premium dollars…
Wrote business in 31 states and DC, yet no AM Best rating. Can’t say this is a shock.
You should have seen their dec pages. Big credits and premium discounts. It was a ticking time-bomb.
Patriot National was ridiculous. Guarantee, the only insurance paper that they ever used to provide NON-RATED quotes… the best part about it was “WE CHOOSE NOT TO BE RATED” by AM Best. Oh really? You choose constant scrutiny every time you present a quote to someone wondering why they aren’t rated? They also kept insisting they weren’t bottom of the barrel underwriters yet any risk that wasn’t bottom of the barrel would qualify for an AM BEST RATED PAPER…
Wouldn’t be surprised if people end up in jail over this company.
Folks should end up in jail. They stole from the company and gave giant paydays to the CEO and CFO when they “resigned.” 250 people lost their jobs today, by emails.
I just read that Steve Mariano received $15M directly from Guarantee insurance over the last few months with no discernible benefit to Guarantee Insurance to do so…
When they hired my new brother-in-law as an VP Executive for PN with no college education and a very sketchy past job history I knew something was wrong. Guy is a top BS artist and sat around with no job living with his mother for a long time
Then once hired one piece of bad news after another.
I had a broker tell me today that he hasn’t gotten commission from them in months. Apparently he is owed about $10k,lol! He wasn’t even pissed, just knew he wasn’t going to see a dime of it.
where are my surgeries I’ve been waiting on for months ? where is my loss of income check ? it’s been almost almost a month since the last one..who’s going to buy me some food ? who’s going to pay my phone bill and vehicle insurance? I want some answers now ! where can I pay a visit to this CEO? I need his address and phone number ..who is responsible for all the injured people like me that have no other income ?
I was audited from period (8-13-16 through 8-13-17) was due a refund 0f 5248.00 on Oct 6, 2018 before they went out of bussiness. Its now 3-14-18 no refund I want the address too!