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Bertram31.com General Bulletin Board
Re: When you pay your Boat US premiums
Posted By: Vic Roy In Response To: Re: When you pay your Boat US premiums (Capt. Dave Kosh)
Date: Tuesday, 15 November 2005, at 5:29 p.m.
Well, fraud is fraud, I see it every day and make a meager living dealing with it. Like any major diaster, the bookies are overwhelmed by the sheer volume of claims, so they start getting heat from the insureds (a/k/a gamblers who plunked down their money in the form of premiums) who want a quick settlement, then the gamblers complain to the state insurance regulators when they don't get paid quick or what they want to get paid, then the insurance regulators lean on the bookies, who tell their claims adjusters to just get rid of claims. So the whole system of fraud detection gets compromised by volume in a diaster. I have heard first hand about some independent adjusters (most bookies have few full time adjusters, they rent independents) doing what Bruce describes, totalling a repairable boat and buying it. On the other hand, the bookies are so ready to just clear claims that I've also heard of a lot of people who take a full payout, buy their boats back for a song from the bookies and fix it to sell themselves. Not much difference.
An insurance policy is a contract between you and the bookie. It says what it says about what's covered or not. The courts have for the last 200 years decided what the contract means, every word is fly-speced a zillion times by the guys in the black robes.
My bookie, Andre', placed my AJ bet with a good wholesale bookie and they are being nice so far, even tho AJ's situation is sorta unique since she's trapped for months in a pile. I spoke today with the big bookie claims lady just to let her know their marine surveyor had been in touch and looked at AJ, and no hurry since we can't finish a proper survey until she's out of the building jumble and blocked up. She almost cried. "Mr. Roy, would you please call me every day and tell me you are not pissed because its been 3 months and you understand?" She then went on to tell me about all the b.s. she is thrown every day, people screaming at her, etc. Be nice, get results. Be an a-hole and get stiffed. The world is run by real people.
Yo Fren,
UV
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