Day: January 6, 2010

Let’s talk consumers, public perceptions and insurance. Allow me to introduce our Kingsway readers to the Slabbed Nation

Yeah I know it must hurt some of y’all reading my post that introduced Kingsway Financial Services to our readers and probably less consolation that the average Slabbed reader is very well heeled representing the cream of retail P&C insurance, their lawyers, offshore reinsurers, consumer lawyers and our political establishment. I also suspect some of ya’ll are still scratching your heads wondering what a blog from Soggy  Bottom Mississippi is doing covering the world of insurance (Lynda and I haven’t finished chatting as of the date and time of the composition of this post so please feel free to join that conversation too) and high finance. Well wonder no more, just thank Ed Rust, Ed Liddy, Jerry Jurgensen and their hatchet men as we come from a strange world where drywall seems to cost more when the claim was adjusted on the taxpayer dime. We know you are out there as our site traffic has bumped up a good bit since that first Kingsway post.

So rather than highlight the reported Kingsway “Nigerian” Free Prize scam, I’d decided to take a stab at stimulating a conversation Continue reading “Let’s talk consumers, public perceptions and insurance. Allow me to introduce our Kingsway readers to the Slabbed Nation”

Slabbed updates the Washington front: $enator Chri$ Dodd expected to retire, NFIP Extended Again

NFIP was extended via an amendment to the defense appropriations bill until February 28, 2010. The House bill remains relative unchanged from the 2007 version and contains a multi peril provision. The Senate version, largely a preserver of the status quo, remains DOA in the House.

On a related note I am pleased to announce our favorite crooked senator, Chris Dodd, is expected to announce his retirement today.

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Perhaps Lynda can explain why this is the policyholder’s fault?

From the oral arguments in Corban, of which Lynda is obviously not familar. In Nationwide’s world it wasn’t the covered peril that controls, rather the mythical uncovered peril that might have destroyed the property had that pesky covered peril not occured.

JUSTICE PIERCE: So you’re sequencing, if 95 percent of the home was destroyed, and then we have the event of the storm surge, then you would not pay a dime?

MR. LANDAU: Your Honor, if we prove that the storm surge was sufficient to cause – we have that burden, again, and that is absolutely crystal clear.

If we can prove that the storm surge was sufficient to cause all of this, it is no answer then to say, ‘Yeah, but I’m going to show it — I’m going to have somebody come in and say, “Look, guess what, the window was broken before the storm surge came and then wiped away the whole house.

But you don’t get into those kind Continue reading “Perhaps Lynda can explain why this is the policyholder’s fault?”