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PolitiCalypso posted Insurance Industry Issues Veiled Threat to the Gulf Coast at DailyKos. Some of the comments were infuriating to say the least.
Yes, State Farm made some serious mistakes in handling their Mississippi and Louisiana claims, but folks who live in hurricane zones need to pay for the risk that they incur by being there. Nothing that Mississippi does will stop costs from going up unless they manage to milk federal taxpayers for it a la flood insurance.
Single payer universal healthcare coverage saves money and saves lives.
The residents of Mississippi are not trying to "milk" federal taxpayers. BTW we are federal taxpayers too.
but i personally don't think that is what happened here. anyway, glad to know you don't think someone has the right to be further subsidized for a beachfront home in hurricane alley.
by essexgreen on Thu Feb 15, 2007 at 09:02:29 AM PST
MANY of the people who lost homes to Hurricane Katrina didn't live anywhere near the BEACH.
i support state farm here (0 / 0)
the claims for "tornado damage" (despite no doppler radar confirmation whatsoever of any tornadoes) were, in my opinion, an attempt to garner coverage for hurricane damage for folks who chose not to have hurricane insurance. in my opinion, these claims represent yet more of a stream of subsidies of the gulf coast by folks who don't live there. they keep building houses there and keep refusing to buy expensive hurricane insurance and keep relying on "friendly" juries to bail them out.
when Mississippi wants to play fair, namely to pay for the coverage its juries will ex post facto claim they have, then the companies will come back. and that's proper.
by essexgreen on Thu Feb 15, 2007 at 08:57:16 AM PST
I live on the Mississippi Gulf Coast and I don't know of anyone who refused to buy Hurricane Insurance (in fact I doubt you could get a mortgage without Hurricane Insurance). Many people were told they didn't NEED flood insurance because their home was NOT in a flood plain. They had Hurricane Insurance, they paid their PREIUMS in FULL and on TIME. Then a Hurricane comes along and the storm surge from the Hurricane destroys their home and the insurance companies come along and say oops sorry that's not covered. And MANY of these people did not live near the beach.
well (0 / 0)
the reason there are separate policies for P&C and for flooding is they are different, and clearly stated as such. if you want to insure your home against storm surge then you also buy flood insurance. everyone in Mississippi knew this. they also seemed to "know" that they could "get" by force the coverage for free.
the plaintiff's lawyer here was trent lott's brother. lott abused the powers of his office to threaten a vendeetta against state farm, leading to the settlement. you have trent lott to thank for his.
by essexgreen on Thu Feb 15, 2007 at 09:26:05 AM PST
Everyone in Mississippi did NOT know this. I really hope ESSEXGREEN reads this. MANY people were told by their insurance agents that they didn't need flood insurance because they DID NOT live in a flood plain. They also didn't live on the BEACH or in MacMasions, they lived in low to middle income housing and were regular working class families.
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Animals
How Could They Be So Wrong?
PolitiCalypso posted Insurance Industry Issues Veiled Threat to the Gulf Coast at DailyKos. Some of the comments were infuriating to say the least.
Yes, State Farm made some serious mistakes in handling their Mississippi and Louisiana claims, but folks who live in hurricane zones need to pay for the risk that they incur by being there. Nothing that Mississippi does will stop costs from going up unless they manage to milk federal taxpayers for it a la flood insurance.
Single payer universal healthcare coverage saves money and saves lives.
The residents of Mississippi are not trying to "milk" federal taxpayers. BTW we are federal taxpayers too.
but i personally don't think that is what happened here. anyway, glad to know you don't think someone has the right to be further subsidized for a beachfront home in hurricane alley.
by essexgreen on Thu Feb 15, 2007 at 09:02:29 AM PST
MANY of the people who lost homes to Hurricane Katrina didn't live anywhere near the BEACH.
i support state farm here (0 / 0)
the claims for "tornado damage" (despite no doppler radar confirmation whatsoever of any tornadoes) were, in my opinion, an attempt to garner coverage for hurricane damage for folks who chose not to have hurricane insurance. in my opinion, these claims represent yet more of a stream of subsidies of the gulf coast by folks who don't live there. they keep building houses there and keep refusing to buy expensive hurricane insurance and keep relying on "friendly" juries to bail them out.
when Mississippi wants to play fair, namely to pay for the coverage its juries will ex post facto claim they have, then the companies will come back. and that's proper.
by essexgreen on Thu Feb 15, 2007 at 08:57:16 AM PST
I live on the Mississippi Gulf Coast and I don't know of anyone who refused to buy Hurricane Insurance (in fact I doubt you could get a mortgage without Hurricane Insurance). Many people were told they didn't NEED flood insurance because their home was NOT in a flood plain. They had Hurricane Insurance, they paid their PREIUMS in FULL and on TIME. Then a Hurricane comes along and the storm surge from the Hurricane destroys their home and the insurance companies come along and say oops sorry that's not covered. And MANY of these people did not live near the beach.
well (0 / 0)
the reason there are separate policies for P&C and for flooding is they are different, and clearly stated as such. if you want to insure your home against storm surge then you also buy flood insurance. everyone in Mississippi knew this. they also seemed to "know" that they could "get" by force the coverage for free.
the plaintiff's lawyer here was trent lott's brother. lott abused the powers of his office to threaten a vendeetta against state farm, leading to the settlement. you have trent lott to thank for his.
by essexgreen on Thu Feb 15, 2007 at 09:26:05 AM PST
Everyone in Mississippi did NOT know this. I really hope ESSEXGREEN reads this. MANY people were told by their insurance agents that they didn't need flood insurance because they DID NOT live in a flood plain. They also didn't live on the BEACH or in MacMasions, they lived in low to middle income housing and were regular working class families.
One of my friends whose husband is in the military owned a home in a middle income subdivision no where near the beach. They were told they didn't need flood insurance because their house was not in a flood plain. There was nothing but a slab left where their home used to be due to the storm surge. They struggled to make mortgage payments on a slab with no help from their insurance even though they had paid their premiums because the insurance company insisted that ALL the damage was due to the storm surge, and sorry but the storm surge wasn't covered under their Hurricane Insurance (which they did have). They are trying to sell their home now as he was transferred, I can only imagine the nightmare that will be if the Insurance Companies refuse to write new policies.
- My Blood Is Boiling
This is a prime example of why I DO NOT WANT UNIVERSAL HEALTHCARE. They own one house on the Florida mainland. We also own another teeny house in the same county. It was our primary residence for years. It's on a boat-only island. We are also permanent...
- Congress Visits Katrina Ravaged Mississippi Coast
If what has been done to homeowners after Hurricane Katrina is criminal, then Pass Christian and Bay St. Louis would easily qualify as crime scenes. It was into those communities that Coast Congressman Gene Taylor led more than a dozen of his congressional...
- From Daily Kos
A Breath Of Fresh Air In Post-Katrina Mississippi by Ana Maria Today’s a big day in Mississippi. While there are plenty of contested local races throughout the state—particularly on the Republican side, the insurance commissioner is the most important...
- Does The Jackson County School Board Know Something The Rest Of Us Don't?
The uniformed enslaved Jackson County Schools spent $4,500 on insurance for damage done by foreign terrorists. Approval was given to pay $4,500 for insurance on the district's modular buildings at a Board meeting Tuesday. That's pretty routine...
- Oreck Still Owes On County Loan
Oreck is moving from Long Beach, MS to Cookeville, Tenn. Oreck still owes the public more than half of a $3 million, low-interest loan granted by Harrison County and the state (Mississippi) to help establish Oreck's presence here in 1997. President...