Coverage on the come? USAA denies coverage in the case of the doughnut glazed dress

After all folks, had they sent an adjuster to Judy Barrasso’s place, such certainly would have surfaced on finer claims adjusting blogs like our friend Deb over at Dimechimes Claims Mentor.  I’ll add we’ve retained a good number of our old insurance industry based readers including Claims Guy, who no longer comments in favor of lurking but USAA always comes running when Slabbed mentions their name so along those lines I imagine Keith Magness’ claim generated a few chuckles over San Antonio way.

I mention all this because a week ago Friday Paul Purpura wrote an account for the TP about Keith Magness’ various legal problems that included a short snippet about USAA denying coverage for Keith meaning they will not be funding his legal expenses, at least up front anyhow. (H/T Bellesouth)

In a final ironic twist this is not the first time we’ve highlighted USAA in a legal case involving the duty to defend lest we forget the case Houghtaling v Richardson, the now infamous Magnum “Hammer of the gods” case where USAA ended up having to defend Richardson for throwing a hammer in Magnum’s direction as he spend down a residential street doing warp 5 in his expensive foreign sports car.  We found out in comments the Ad Hoc Judge originally assigend to the case was Robert Creely, Tom Porteous’ former law partner.  The back story there is I contacted Creely Continue reading “Coverage on the come? USAA denies coverage in the case of the doughnut glazed dress”

Sam if it is a fight you want bring it on. Disconnect remains on display at the National Underwriter.

Of all the other blogs that we’ve linked, National Underwriter Editor in Chief Sam Friedman’s blog certainly resides in our top 5 for mentions here at Slabbed.  We link Sam because of many of his insights are keen and because we respect his sincerity. I’m also certain Sam does not know what to make of this blogger, a hard hat CPA from the Mississippi Gulf Coast with a penchant for delivering hard-hitting comments.  They must hurt to the core as Sam can’t bring himself to publish some of my missives even though they were non profane and directly salient to his blog topics.

Last July I took Sam to the woodshed here on Slabbed despite the respect we accord him and his trade journal but it was equally clear from his comment on my post he simply doesn’t get it. Of course I didn’t have to email Sam that post as the National Underwriter is a frequent guest here at the Do Slabb Inn along with every major insurer and investment bank in this country as we’ve dutifully detailed the systemic corruption of Wall Street and follow the money to their pet politicians and regulators.

Sam is still at it as he has morphed from journalist to cheerleader. I don’t know if Sam views himself as that mythical insurance adjusting teevee superhero he pumps but I do know if he is spoiling for a PR fight he doesn’t have to look very hard to find an opponent that is not incentivized in the system.

We don’t have hundreds of millions of dollars to spend on shills like Robert Hartwig or trade groups with oval office connections. And I can’t imagine  that the average editorial board at the local newspaper would see me or Nowdy on a walk in basis to hear us speak about an esoteric topic such as insurance finance. Such access is reserved for folks like Hartwig. But we have something none of the shills possess and it is called the truth. In today’s day and information age it is indeed a mighty sword. Continue reading “Sam if it is a fight you want bring it on. Disconnect remains on display at the National Underwriter.”

The Scheme

The best place to hide a needle is in a haystack of needles.

From the time my children were old enough to doubt there really was a Santa Claus until the older two were grown, I can only recall one year that none of the three found where I was hiding their Christmas presents – the year I wrapped their gifts and set them under the tree.

Frankly, I was surprised they didn’t figure out my scheme; but nowhere near as surprised as I was the OIG couldn’t find the scheme to shift cost to the NFIP – much less as shocked as I was to learn investigators from MID couldn’t find it either.

Maybe both investigations were looking for a needle in a haystack when every element of the scheme was in plain view, a needle hidden in a haystack of needles. Pick them out one by one, put the elements together and you’ll see what the Rigsby sisters saw – the scheme.

My kids made looking for their gifts an insiders game with a legitimate reason ready to cover if they were caught. One searched the car, I can’t find my math book; another the closets, I’m looking for my sweatshirt; the little one they sent under the beds, I’ve lost my tennis shoes.

Wind versus water is an insiders game, too. It can be played as a word game or a mind game, a blame game, a power game; even a monopoly game with players swapping property cards purchased with printed paper that passes for money. Continue reading “The Scheme”

The Herald Tribune Takes the Allstate Challenge and Slams Claims Practices

I saw a link posted today on the Yahoo ALL board where Nowdy and I also post that I can’t let slide by today.  Before I jump to today’s Herald Tribune story some background is needed. This post will be long out of necessity. I hope our readers can hang with us while the story is developed.

First stop is the Allstate corporate website and a press release issued just hours after Commissioner McCarty suspended Allstate from doing business in Florida.

Allstate announced today that it publicly released approximately 150,000 pages of documents pertaining to a review of its claim practices conducted in the 1990s. Allstate was assisted in the review by business consulting firm McKinsey & Co. Continue reading “The Herald Tribune Takes the Allstate Challenge and Slams Claims Practices”