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United Fire Group, Inc Message Board

  • jpbel2003 jpbel2003 Jan 9, 2007 7:11 PM Flag

    Missisipi lawsuit

    Started today in s. miss. Judge disallowed change of venue
    Final outcome affect all ins. stocks?

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    • Good question. The major publicaly traded insurers haven't faired too badly since Judge Senter ruled against State Farm and ordered them to tender their policy.

      Bottom line in the judge's decision is that insurers have a contractual duty to adjust their claims.

      Anyone know if United Fire Group properly adjusted their claims in Mississippi? My understanding is that some of the stiffs they hired early on needed seeing eye dogs.

      One thing for certain. The $2.5MM in puni's the jury awarded tell me the folks down there aren't in the mood to hear excuses from these big insurers.


      • 1 Reply to sop81_1
      • The problem these days is a lying CEO that is misleadng investors regarding the continuing failure to properly reserve for claims. Louisiana judges, for instance, do not like insurers witholding polciies from discovery nor do they accept the lack of financial solvency as a reason to deny valid claims.

        I used to insure with United subsidiary Lafayette but was cured by of that mistake by the company's bad faith adjustment of my claim. I ended up getting my money after 17 months and am evidently lucky considering others have waited 4+ years.

        Right wing idealogues may lap up Randy's bullshit but investors with money on the line don't have that luxury.

        Welcome to slabbed Randy. Your meeting with Kitty evidently did not help much and I bet all the other state court judges just love you saying they are dishonest.

        Meantime the shareholders here suffer because of your lies and mismanagement. One day maybe you'll come clean on how under reserved your company truly is. The market knows and the tape is never wrong.


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