Where are the Insurance Companies?

[Dana Walker]

I just have to get this off my chest.  Where are the Insurance Companies?  Last week in Texas and now in Florida means it is pretty much the Insurance Company Super Bowl.  This is their big moment but where are they?  I would assume that during every commercial break on TV there would be an ad from an Insurance company telling people to stay calm and they would be taken care of.  But, instead it is please for private citizens to donate to Harvey.  And next week it will be for private citizens to donate to Irma.  It seems like it is time to call out the insurance companies for being risk management profiteers.   I'd love to hear thoughts on this from the BP community.

[Jared Townsend]

I don't think PR would hurt but in reality actions speak louder than words. If they really are ripping people off then those commercials would come across as hollow and hypocritical. I'd rather see them take care of people than give lots of praise or promises. 

All of the carriers my company represents started contacting their policyholders last weekend to help prepare them for the storm and provide claim procedures. We always try to educate our clients that the cheapest policy is only good if you never have a claim -- it is well worth the higher cost to have a reputable carrier that doesn't stick it to you after a storm. Lets hope for everyone's sake that the Office of Insurance Regulation really sticks it to the lowly carriers that try to evade paying for covered damage!