Responding to Extraordinary Loss – Reeling and Writhing, of course, to begin with, and then the different branches of arithmetic — Ambition, Distraction, Uglification, and Derision.

It would be so nice if something made sense for a change.

Was there any other way to do the arithmetic?  Expedited Claim Handling Process

Would that have included litigation cases from cat losses in “2005” not signed, settled and sealed until 2008? Delay, Deny and Deceive shows up on your balance sheets sooner or later. (CLS)

If I had a world of my own, everything would be nonsense. Nothing would be what it is, because everything would be what it isn’t. And contrary wise, what is, it wouldn’t be. And what it wouldn’t be, it would. You see?

What would really be interesting to know is what was said (not written) to the WYOs about the process. We may find out is some of the litigation still pending on the coast. I guess my point is, if standards were “relaxed”, did the gummint really want the WYOs to go through a lengthy battle of what is wind and what is flood?(Sampson)

I can’t explain myself, I’m afraid, Sir, because I’m not myself you see.

Sampson, I wondered what was said, too.  In fact, before I could write the scheme in its published form, I had to create a connection.  Obviously, I didn’t intend to publish it; but, since I have the keys to this place, I can lock it back up.

August 29, 2005. almost daylight. somewhere…Someone had started fresh coffee and anyone who had slept in their chair began to move as the smell filled the air and the rest of the group starting coming into the room.

His head was still down on the table but he’d opened his eyes and could see one set of hands working quickly to remove the remains Continue reading “Responding to Extraordinary Loss – Reeling and Writhing, of course, to begin with, and then the different branches of arithmetic — Ambition, Distraction, Uglification, and Derision.”

Katrina insurance litigation – selected Nationwide and State Farm cases

Early in the month I began a somewhat regular “sweep” of Katrina insurance cases in the federal court with new docket entries.    In a single day recently, docket entries were made on approximately 75 different cases.  It would be impossible to estimate exactly how many different cases had one or more docket entry during the month of February; but, I’m willing to guess hundreds.

Obviously, someone has to read every one of those new documents.  I’m not the one.  In this short and busy month, it has been difficult at times  to “sweep” my kitchen, much less the case files – so much so, in fact, this could be called a “lick and a promise” post about cases that caught my eye.

Nationwide, you may recall, is the carrier that prompted Judge Senter’s memorable “illusionary coverage” remark.  At this point, it appears the “illusion” morphed into a  “delusion” with Nationwide thinking he would eventually see things their way.  While he has been “on their side” at times, I’ve seen Judge Senter issue an order in several Nationwide cases that I don’t recall seeing elsewhere.  Consequently, I’ve also seen another first, Notice of Private Mediation:

Pursuant to the Court’s January 12, 2009 Order for Mediation, counsel for Defendants Nationwide Mutual Fire Insurance Company, Ntionwide Mutual Insurance Company, and Nationwide Property and Casualty Insurance Company, on behalf of both parties, hereby advises the Court that the parties will hold a private mediation on or before March 19, 2009, in lieu of participating in the Court-supervised mediation program.

Since I don’t want to commit the logical fallacy of suggesting correlation proves causation, I will simply point out I noted a number of Nationwide cases were settled this week.

However, other Nationwide cases I pulled do not appear to be moving in that direction.  Politz v Nationwide , for example, is a dispute about the plaintiff’s private coverage with Nationwide – although you might think  otherwise.  Nationwide focused on NFIP and other disaster assistance the Politz received and did so in a way that its conduct appears contrary to the NFIP Litigation Philosophy: Continue reading “Katrina insurance litigation – selected Nationwide and State Farm cases”

Well, State Farm’s net worth is 68% higher than the end of 2002 – after the just reported $10.4 billion drop!

‘plain that Sop! I didn’t make it up, it’s the latest from the National Underwriter.

State Farm today reported its net worth dropped $10.4 billion—to end the year at $53.3 billion—and an after-tax loss of $542 million for 2008.

The Bloomington, Ill.-based mutual insurer said the primary reason for the decrease was the $9.2 billion decline in the value of the property-casualty company’s stock portfolio. The decline comes after five consecutive years of net worth increases, and despite the decline, the company’s net worth is 68 percent higher than it was at the end of 2002, the company said. Continue reading “Well, State Farm’s net worth is 68% higher than the end of 2002 – after the just reported $10.4 billion drop!”