It's a corrupt racket. Word has it ("hearsay", so take it for what it's worth) that (this is going back several years) Florida insurers asked experts to project whether future years (1-3 forward, if I'm not mistaken) were anticipated to be severe with hurricanes. Experts said no so they were fired, the next two sets of experts said no and were also fired. Then they got "experts" to tell them what they wanted to hear - dire projections, severe damages, losses, etc - and used it to get themselves rate increases. The weather was as the initial three actual experts had projected yet the companies are never required to refund their customers' excess payments, the rate increases never rolled back, they just continue to rise.
This is how the insurance companies operate. They are fully entrenched and have bought themselves most politicians and probably FNM "support" as well. Look at health insurance if you need another example.
I hope the whistleblowers come forward when it's safe for them to do so as these insurance scum are truly evil, greedy beasts. Right now they're just raking everyone over the coals and stuffing as many gold coins into their greedy little pockets as they can.
Many years ago a colleague of mine was upset about a car insurance problem and his father took him over to the Charles River (in Cambridge across from Boston) and pointed out that the two largest/tallest buildings were the Prudential (insurance) and John Hancock (insurance) buildings. Insurance companies have had a stranglehold on their customers for decades.
It's a corrupt racket. Word has it ("hearsay", so take it for what it's worth) that (this is going back several years) Florida insurers asked experts to project whether future years (1-3 forward, if I'm not mistaken) were anticipated to be severe with hurricanes. Experts said no so they were fired, the next two sets of experts said no and were also fired. Then they got "experts" to tell them what they wanted to hear - dire projections, severe damages, losses, etc - and used it to get themselves rate increases. The weather was as the initial three actual experts had projected yet the companies are never required to refund their customers' excess payments, the rate increases never rolled back, they just continue to rise.
This is how the insurance companies operate. They are fully entrenched and have bought themselves most politicians and probably FNM "support" as well. Look at health insurance if you need another example.
I hope the whistleblowers come forward when it's safe for them to do so as these insurance scum are truly evil, greedy beasts. Right now they're just raking everyone over the coals and stuffing as many gold coins into their greedy little pockets as they can.
Many years ago a colleague of mine was upset about a car insurance problem and his father took him over to the Charles River (in Cambridge across from Boston) and pointed out that the two largest/tallest buildings were the Prudential (insurance) and John Hancock (insurance) buildings. Insurance companies have had a stranglehold on their customers for decades.