We rarely find ourselves going after Chubb for underpaid policyholder claims because they sell a great insurance product and usually pay claims. If all insurance companies sold a product that was drafted with full replacement coverage and fewer exclusions and trained their claims adjusters to look for ways to pay claims, our law firm would be broke.

Chubb ran an advertisement acknowledging that its competitors sell an inferior product. The ad indicated that policyholders should not expect to be "treated fairly and paid quickly" unless they insure with Chubb. What an indictment by an insurance industry leader. This is not Chip Merlin calling the insurance adjustment business a den of thieves. Chubb, which has been in the insurance business for more than 125 years, is apparently upset with cheap competitors stealing business and is advertising a warning to all—insure with us or you will get unfair treatment and slowly adjusted claims.

Good for Chubb. It is about time that honest insurers advertise why other less honest insurers offer lower premium rates; less forthright insurers sell a product worded, in the event of a claim or litigation, in the insurer’s favor and train adjusters to be most concerned about paying as little as possible.

If silence speaks a thousand words, it is quite significant that none of the other insurers made a peep about the allegations Chubb made about them.

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  • Richard Schwartz

    Just FYI – In florida, LMIC and now Peoples Trust dispatch a company called RAPID RESPONSE- a contractor for water removal, etc. Rapid Response writes the estimate very low if the customer refuses to sign work authorization agreement because that means they are not getting the work. How about asking all PA’s to report in on Rapid Response and the connection to LMIC and Peoples Trust. Scary- I thought a carrier had to use an adjuster to adjust the damages-they are not. Contractors provide free estimate in the hopes of getting work-contractor can come back and supplement a little from the carrier so who wins? We are right back to using approved contractors with carrier having no warranty responsibility? THERE OUGHT TO BE A LAW AGAINST THIS-just like we have a law keeping us from working the first 48 hours

  • Eva Sesztak

    Chubb did not honor their Homeowners policy. Our house burned down, instead of fulfilling their commitment on their policy they attacked us maliciously, slandered us,short of not calling us the culprits. If that is not an act of “Bad Faith” than what is really “bad faith?” They ruined our lives.

    Eva Sesztak

  • Repeated examinations and a series of company self-audits ordered by Kreidler since 2007 found hundreds of violations of state law, including numerous recent ones, the OIC said. In some cases, more than half the sample files checked had violations. The $534,000 fine amount was based on 534 violations of state insurance law, at $1,000 per violation.”