Lake Naomi Topics: State Farm fraud

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	Name:	Osms -
	Subject:	State Farm fraud
	Date:	12/16/2006 10:22:45 AM

I've been keeping up with the insurance situation of the Coast post-Katrina and have learned some interesting things everyone should know. State Farm and others are pulling wind coverage from policies along the coast even though they reported record profits each quarter following the hurricane -- they didn't pay the claims they owed. Before you say that doesn't bother me because I don't live on the Coast, know that State Farm has been convicted of fraudulently denying claims for tornado damage to several homes in Oklahoma -- it can and will affect you. State Farm had a 5.9% growth in income in 2005 and probably a lot more this year. Insurance coverage on the Coast will cost 4 to 10 times as much as it will at the lake -- think about it.

Insurance companies are exempt from Federal anti-trust laws for some reason; therefore, they appear to think they are above the law. Something's gotta give. If you are in a situation where you have to file a claim, you might as well get a lawyer and sue on the first day -- if you don't you're gonna get screwed. FYI Sen. Trent Lott, Con. Gene Taylor, and the Federal Circuit Judge all have sued insurance companies because of denied coverage. The Fed Judge had to remove himself from hearing any of the cases because he too is suing.

Disclaimer: Luckily I do not have State Farm and the small claim I had was handled properly by my insurance co.

Other messages in this thread:

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State Farm fraud - Osms - 12/16/2006 10:22:45 AM

State Farm fraud - Tallyman - 12/18/2006 2:43:57 PM

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