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Started By
Message
re: Allstate had a 259% increase in profits
Posted on 5/1/25 at 11:11 am to Billy Blanks
Posted on 5/1/25 at 11:11 am to Billy Blanks
Unless a tree falls on your roof, roof replis normal wear and tear replacement. Does your auto insurance cover tires when you need new tires?
1
Posted on 5/1/25 at 11:13 am to El Segundo Guy
quote:
Unless a tree falls on your roof, roof replis normal wear and tear replacement. Does your auto insurance cover tires when you need new tires?
Not remotely close to the same.
How long have you been selling insurance?
Posted on 5/1/25 at 11:16 am to Pezzo
quote:
oh right because i dont have a fricking choice if i have a mortgage
Between mortgages and property taxes, the average citizen is always essentially renting land and home from someone else. It’s just not a landlord in the traditional sense but rather a bank or the government.
Posted on 5/1/25 at 11:17 am to DCtiger1
quote:
If a customer truly deserves a settlement of 500k, why is an attorney entitled to 25% or more of said settlement that is intended to indemnify their client?
Because the insurer offered $50k before the lawyer got involved.
Posted on 5/1/25 at 11:18 am to boosiebadazz
Insurance is the main reason everyone should be begging for fully autonomous self driving vehicles. Once that technology matures and is widespread vehicle accidents will drop to near zero and there will be zero reason to carry insurance other than to cover for theft or vandalism.
Posted on 5/1/25 at 11:18 am to Billy Blanks
Haha. Never in my life. I only know of 5 people in my over 50 years that have ever filed a homeowner claim. And I live in Oklahoma where tornadoes aren't uncommon.
Frivolous claims lead to high insurance rates.
My homeowner insurance in Oklahoma is very reasonable. 2k a year for house, 2 shops and a barn.
Frivolous claims lead to high insurance rates.
My homeowner insurance in Oklahoma is very reasonable. 2k a year for house, 2 shops and a barn.
This post was edited on 5/1/25 at 11:21 am
Posted on 5/1/25 at 11:18 am to boosiebadazz
And if they deserved 500k, why do you deserve so much of that?
Posted on 5/1/25 at 11:19 am to HeadCall
Insurance will still be very much needed, it will just transfer the risk
Posted on 5/1/25 at 11:22 am to DCtiger1
quote:
Insurance will still be very much needed, it will just transfer the risk
Most car insurance exists to pay off ambulance chasing lawyers. That profession is gonna take a huge hit too.
Posted on 5/1/25 at 11:26 am to DCtiger1
quote:
And if they deserved 500k, why do you deserve so much of that?
If they truly deserved $500k, why did the insurer only offer $50k before the lawyer got involved?
So the lawyer brought an additional $450k to the case and gets a percentage for doing so. And your gripe is that he charged a fee on the value he brought to the case that the insurer refused to pay before he got involved?
Posted on 5/1/25 at 12:00 pm to boosiebadazz
Lack of actual dollars screams hit piece.
Posted on 5/1/25 at 12:05 pm to skidry
quote:
Lack of actual dollars screams hit piece.
By an insurance industry publication?
Posted on 5/1/25 at 12:09 pm to boosiebadazz
I would rather see the increase in dollars rather than %.
A company could be on the verge of collapse with $1000 in profits, only to have an equally paltry $2480 in profits the next year - a 248% increase.
A company could be on the verge of collapse with $1000 in profits, only to have an equally paltry $2480 in profits the next year - a 248% increase.
Posted on 5/1/25 at 12:15 pm to boosiebadazz
quote:
This turnaround was largely attributed to enhanced claims management, which allowed Allstate to reduce claims payouts and optimize operational costs.
In other words, we increased deductibles to where most wind claims do not meet the threshold of a claim and increased rates to where customers are barely able to afford the premium and only keep the insurance because their mortgage requires it.
This post was edited on 5/1/25 at 12:16 pm
Posted on 5/1/25 at 12:16 pm to DCtiger1
Lawyers working on contingency are fronting expenses such as experts, court costs, etc before any money is recovered. You’re also taking on a risk that you get poured out by Judge or Jury without recovery, or that the defendant is broke by the time of trial. For bigger cases, you’re also carrying on that risk / lack of payment for years as death / catastrophic cases typically take 2-3 years to resolve.
So yes, besides the reason Boosie mentioned, a larger recovery is justified.
So yes, besides the reason Boosie mentioned, a larger recovery is justified.
This post was edited on 5/1/25 at 12:17 pm
Posted on 5/1/25 at 12:25 pm to Steadyhands
quote:
These frickers sent the check to the address of the sold house, even though they asked for the new address at cancelation
You underestimate how much women that work in title attorney and insurance offices drink on the daily. Never attribute to malice that which can be attributed to incompetence.
Posted on 5/1/25 at 12:29 pm to boosiebadazz
quote:
If they truly deserved $500k, why did the insurer only offer $50k before the lawyer got involved? So the lawyer brought an additional $450k to the case and gets a percentage for doing so. And your gripe is that he charged a fee on the value he brought to the case that the insurer refused to pay before he got involved?
The lawyer didn’t bring shite. The threat of drawn out litigation and cost encourages the carriers to settle regardless of whether the claim is worry of that payout or not.
I saw a billboard in Monroe this weekend where Morgan and Morgan won a 120 million dollar case against an insurance company. Is the intent of insurance to indemnify? Tell me how 120 million is making someone whole?
Posted on 5/1/25 at 12:30 pm to NIH
quote:
Lawyers working on contingency are fronting expenses such as experts, court costs, etc before any money is recovered. You’re also taking on a risk that you get poured out by Judge or Jury without recovery, or that the defendant is broke by the time of trial. For bigger cases, you’re also carrying on that risk / lack of payment for years as death / catastrophic cases typically take 2-3 years to resolve.
How weird is it to justify injury attorneys exorbitant fees but complain about insurance company profits.
Posted on 5/1/25 at 12:34 pm to DCtiger1
quote:
The lawyer didn’t bring shite. The threat of drawn out litigation and cost encourages the carriers to settle regardless of whether the claim is worry of that payout or not
Your premise is that the claim was truly worth $500k to begin with.
Posted on 5/1/25 at 12:37 pm to boosiebadazz
quote:
Your premise is that the claim was truly worth $500k to begin with.
Because thanks to you it now is.
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