Wind Claim Dumping on the Flood Program: The Mechanics

Folks, Sop used actual photographs to explain the concept of claims dumping on his earlier post on the topic, the visual account of which set a site visit record for our little corner of the Internet. Now this Cowboy is gonna explain how big insurance did it, dumping their contractual wind obligations of the U.S. taxpayer. In a whistle blower lawsuit filed over New Orleans way the public adjusters projected that if the error rate they found held true, us taxpayers were bilked out of over $9 BILLION dollars by big insurance. Some examples found by the public adjusters include:

“a group of four-plex apartments in eastern New Orleans were compensated for flood damage with taxpayer money even though they experienced no flooding. Each building in same complex was paid only a pittance for severe wind damage on its regular property insurance policies. American National Property & Casualty Insurance Co., or ANPAC Louisiana Insurance Co., paid the owner of several buildings in the Versailles Gardens subdivision on Alsace Street about $95,000 in flood damages, or about half the value of each property’s individual $200,000 flood policy, even though no flood waters got inside the buildings.”

Over here in Mississippi, State Farm used faulty and on occasion even altered engineered reports to dump their wind obligations on us. Take a look at these two engineering reports, the first one authored by engineer Paul Monie and verified by him as his work product. The second one was altered to let State Farm off the hook without his knowledge or consent. After Steve helped Mr. Beckham track down Paul Monie and it was brought to light that State Farm and their lackeys at Rimkus engineering had no problem defrauding a 70 year old man guess what happened next? You got it folks, State Farm experienced a Come to Jesus moment and paid Mr. Beckham. In fact they paid him so much money he can’t talk about it any more. This Cowboy can talk about how them crooks tried to steal from an old man though and he just did. 🙂

In fact, thanks to Congressman Gene Taylor we got us a whole list of examples of how crooks in Gucci suits and their scalleywag corporate lawyer enablers tried to screw the good folks on the coast who lost their houses out of big money. We started with ole man Beckham cause Steve knows him but he ain’t the only one by a long shot.

9 thoughts on “Wind Claim Dumping on the Flood Program: The Mechanics”

  1. Quote: “crooks in Gucci suits”

    The insurance business must pay better than I thought, because I don’t know any insurance guys that can afford to dress that way.

    But of course, you guys aren’t interested in factual, accurate depictions of the insurance industry. You prefer cartoons and stereotypes.

    Perhaps you should rename the blog to what it really is: the Mississppi We Hate Insurance Forum.

    Call a spade a spade boys. This is a cheerleader site.

  2. What you see here Mr. Claims guy is real frustration on part of some including Coastal Cowboy and yes it spills over into the commentary. But that doesn’t change the very important concepts behind Coastal Cowboy’s post.

    If there are inaccuracies in today’s post or any of our posts here at the Mississippi Insurance Forum we stand ready and willing to examine anything factual you or anyone else may present.

    The fact you presented nothing to refute Coastal Cowboy’s post and instead chose to resort to a generalized attack on this blog is not lost on us or the readership.

    Again we welcome your viewpoint and look forward to any information you might bring that can add to this important discussion.


  3. No, claim guy, can’t let you hang that “hate” label on me. I am disappointed – crushed – by the way some in the industry responded to their policy holders on the Coast; and, like others here, much of that disappointment is because I know so many good insurance people.

    I grew up in a family covered by Farm Bureau and my parent’s trust in insurance companies was a value I carried into my adult life – and rightfully so. After my father died leaving my mother to raise three children alone, Farm Bureau was there any time she needed help.

    I have friends who have spent their entire career in the industry – including several with State Farm. The company’s handling, make that mishandling, of claims on the Coast betrayed the trust of their agents and policy holders alike.

    This site is “a cheerleader” for justice – justice for all.

    If you’re a “claim guy” whose integrity got “slabbed” by the way some in the industry responded to Katrina, welcome to the squad!

  4. Ain’t nothing worse for the soul than sellin’ it out for gold. Tell me where my facts went wrong pardner and I fix it straight away.

  5. The Chinese are buying up all our T-bills. So I think it is really them who are paying: at least for now.

    People trying to get the government to pay for their own obligations strikes me as completely non-News.

  6. Well Pardner, on behalf of Edward Rust and his incentive bonus program, State Farm thanks you for your support.

  7. Earlier this year on CNN, Congressman Gene Taylor said, “There ought to be a national registry of child molesters and insurance company executives because I hold them in the same very low esteem.”

    At the end of my latest entry on my blog A.M. in the Morning! I added to Taylor’s sentiment stating, “I also hold in the same low esteem those who aid, abet, enable in substantial manner like their high priced fancy corporate lawyers and law firms dedicated to protecting and defending these two-fisted greedy gutted goons in Gucci suits.” (Yes, I ‘borrowed’ the Gucci suit idea from here!)

    That was a jab at Senatorial candidate Ronnie Musgrove who is a member of the law firm that defends State Farm, George Dale, and the insurance industry. The man has lots of baggage–more than Samsonite and is undeserving of our South Mississippi votes.

    Now I realize that I must add to the insurance enabler list members of the insurance industry pep squad. Claim guy, you now have the dubious honor of being the first inductee from the insurance pep squad. Three cheers for you!!

    Keep it up, Coastal Cowboy, sop811, and promise. You are doing a great job, and I’m a big fan. 😉

  8. Why thank you Ana Maria this Cowboy is a big fan of your blog too. Now this Cowboy was especially proud when he heard good ole Gene Taylor mention crooks in Gucci suits. I was tickled ’cause ole Gene laughed when he repeated this Cowboy’s populist tag line. It also warmed the cockles of my heart knowing good ole Gene cares enough to spend time reading us and I’m plum happy to hep.

    I don’t trust them fancy insurance lawyers cause while they is shakin’ your hand and smiling to your face they’s also reaching into your back pocket with their other hand. I know Greg Copeland’s Momma raised him better than that but he was brainwashed by money and greed. I hear ole’ Ronnie Musgrove’s daddy was a yankee carpetbagger so that explains him.

    Keep up the good work Ana Maria. This Cowboy will be stopping in over at your place soon.

  9. My thanks, too, Ana Maria. I’ll be stopping by your place first chance I get – even sooner if cheerleader practice stops taking up so much of my free time. 🙂

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