Fire at one of my last rental

I am pretty irritated with he the whole banking ins issues- It seems to be such a simple fix yet no one sees it (hold these crooks responsible)does not matter (bank -- ins company --- Homeowner - Corporation) someone should loose something or go to jail for the risk they took yet no one does so the whole thing repeats itself over and over until everyone is doing it.

I run over 1 million through my bank every year - they have started charging me 10 cents a deposit have also started holding my checks to clear 3-5 business days - but they take their 10 cents up front. not to mention buying checks, montly acount fees, automatic withdrawl fees etc... They are charging us to use our money and it is almost impossible not to have a bank how do you cash a check without a bank?

Maybee i am old scholl but if i give money to my bank to borrow to people that need money and they make money from borrowing it should this not be enough this was the way it was intended - The banks are also allowed to borrow out 10 times the amount i give them - so i give them 10 dollars they can borrow out 100 and gain interest on 100 vs 10 should definately be enough - If i deposit a check the funds should be available immediately if that check does not clear the other bank someone should go to jail or loose something -- My bank should cover me that is what they are there for i utimately should be held responsible for the check if it does not clear money wise for making the deal with the crook of a homeowner that bounced the check- Homeowner crook goes to jail i take the loss on the money for signing a bad crook of a homeowner

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Its over 10k here for bank to be on check - let me explain a bit if you fill out the proper forms as the general w-9 intent to repair certificate etc it is your baby now when you send this to the bank - they inturn release the whole amount to you - now if you do not complete the repairs in the specified time frame you submitted you would be committing fraud therfore prison time.

I do understand homeowners spending the money from insurance companies happens all the time still - does not make it right but as long as they do not sign the intent forms from the bank the worst that happens is the ins is dropped they still owe bank for home if they walk away oweing more on the house than it is worth along with spending the money - this is the banks fault for borrowing the money without requesting their name on the ins policy in the purchase agreement or not requireing the ins company to put both names on the check if over the 10k. Bad decisions bad policy.

So which is worse? The bank making a bad investment or the Homeowner either way you pick.

This endorsement gives the banks all that much more power and takes that much more power away from the Homeowner because of his / her lack of responsibility - The only way this works is to hold pople responsible even the bank -= Do not give them the money for them to gamble with - Grow some balls take your money do the repairs or you will be waiting for them to shuffle money around for 6 months or better saying things like soory we forgot you needed to send us a copy of the inspections--- or we need to assign another inspector -- or you need to get another opinion - we do not have a copy of this form on file - we do not cut checks until the 20th of next month - you never did a 50% -- we accidentially applied the check to your principle -- we have to send check to bahamas to corporate for funding -- etc.... all excuses i have gotten from banks in the past sounds like crackhead excuses huh? I have a whole other list from Homeowners.

You should get your money and if you spend it on other things you should go directly to jail - if your bank gets your money and spends it they get bailed out and no one goes to jail - People wonder why we are in the position we are nowadays it is because of the banks ins companies and irresponsible Homeowners that are not being held responsible for their actions.>>>

Min. This is a rental . Now that being said it is the last one I have that has a small mortgage. The insurance company has compliance issues with the state and banking industry to include the name of the lien holder ( Bank of America ) and the owner ( ME ) on the check if it over a certain amount $2,500.0 I believe is the cut off. This check being over 40 times that . The lessons learned from Rita Katrina make this understandable .I've been told many checks were written to homeowners who thought it wise to run off to the Casino's to double their money , the consequences obvious . Abandoned homes never repaired still sitting in disrepair and a blight to the neighborhoods . After I take off the bankers hat , developer contractor hats go on . This is a very interesting event . Out of the ashes arises the Phoenix . Kool very very Kool>>>

ciak, is this not your property? all you need to do is call your bank tell them you are not comfortable endorseing the check tell them you will send them in signed contracts and an intent to complete repairs form as well as a w-9 from you then you tell them you are the general - tell them to endose and send entire amount back to you - you pay the ins premium - they will comply with your request as long as you know how the game works.

Otherwise you will have to get this paperwork from all your subs as well as yourself.

couple years ago homeowners would always do this endorse - until one job with WF could not pay do to insuffcient funds the bank did not have enough money to cash the check funny - they had to finally send the endorsed check to corporate office to be approved then send back. i know it does'nt make sence but it does happen. In these days who's to tell with so many banks going under it may take months to get your money from the bank especially if the Gov't already is involved like with citi financial i know a few contractors still waiting to recieve final check from them from last May. Who knows maybee your bank is better.>>>

Now that all the monies issues have been settled by the Insurance company I need a new hat . Dealing with the banks . Bank docs require signed forms stating 1. All insurance monies will be used to complete the repair of damages listed by adjuster estimates 2The bank will hold the balance of the insurance funds in a escrow account and will release additional funds as repairs progress and inspections are completed 3 I will be hiring a Contractors to do repairs . All invoices for labor and materials relating to the repairs to the property will be paid in full and no mechanics liens have been placed on property. Mail this doc to the bank they will process it and release 30% of the funds to get started . After 50% of completion after inspections more funds will be released then after 90% inspection final release. Mailing endorsed check to the bank approximately 10 days later $10,000.00 or 30% which ever is greater will be released. This is the next step.>>>

I understand PC . When preconceived ideas are challenged the first motion is to defend the old . right or wrong. I know I deal with first class ,honest moral people , who want to be a help . I'm not saying perfect people . To say I don't give a hoot is a misconception . If I didn't give a hoot I would not put up with all the crap thrown at me in this place or bother posting this whole series . I do it because I do care and know if I can get a few people turning they will see the light and understand . It is all about helping contractors on a local level helping their customers and community by learning the process and reading the contract . That's all. My intention in posting this .>>>

Hi Ciak, My head is bursting of things to say. I'm still reveiwing this thread. Both good and so/so. I'm leaving here as is, I want to be fair, honest & complimentary. Thus the mix up. You don't give 2 hoots anyway but that doesn't mean I don't. Still Sunny? PC>>>

I met with the Architect today. With the monies given me by the insurance company I will be able to upgrade the house by a few hundred square feet add a wrap around porch and upgrade the A/C . A new kitchen new wood floors new dry wall new upgrade on roof and siding. Because I'm a " roofer "I will be able to use the roofing company to charge for roof upgrade siding and fascia soffit gutters at a rate I can determine . This is going to be a sweet deal. I also get another 9 months of lost rents while construction is going on . ALE on water and electricity used . Damn nice situation from an industry that is alleged to grind people down to a knob , Bull.Shate . Learn the system you can help your customers in the process. Get the job and be an all around good guy helping your community .>>>

"Allstate says some people hired lawyers because they were not familiar with the claims process. " Wonder where I have heard this before............ Finally a glimmer a light dimly lite yet turning on . Learn the process. You can actually be a good influence with this info. That is all I have been trying work here . Jed it is difficult to admit when you don't know something . Ed has come a long way in learning, " Knowledge is Power " from where he was. I'm not saying it is because of me . It is who he is . He still goes off on tangents from what is really going on . He is turning and will come around . He is a good guy and really wants to be a good influence . The process is one part of the key to working insurance. The other is understanding what the contract says . If you don't you are still a pawn to all the ambulance chasers and lawyers willing to line their pockets with your and your customer money . savvy ??>>>

Did you even read the three sections posted ciak?...........yeah, I know rhetorical question. You did'nt, of course. Just dismissed what Ed took the time to post with a dismissive, arrogant wave of the hand.

Since 2004, Allstate has been defying an order by the same .....

In the decade after Allstate instituted the McKinsey pro......

McKinsey worked with Allstate to install Colossus...... etc, etc

A small part contain allegations, hardly out of line as this is a legal case representation. A large part is factual, uncovered by investigative work, (see above) and some is perception.

As for me asking you to back up your statement with factual clarification being "just to ignorant to even comment much" further" Like I said, with every spasmodic keystroke.

"Allstate says some people hired lawyers because they were not familiar with the claims process. " Wonder where I have heard this before............>>>

Ed There is a statute of limitations . If you plan on making it work ,get it done before that . In most states it 5 yrs>>>

Ed All good reading material . Most if not all are alleged not facts . I think you are a wise person because you understand concepts . As far as Jed saying he wanted facts and my personal hands on experience is not facts . It is just to ignorant to even comment much further . I figure if I burn my finger on a stove or I have a good experience , it is a fact . Of course it's possible a conspiracy theory ,I'm only arguing this because I'm in the secret pay of the Insurance Company which for decades has tried to cover up the true underhandedness and cruelty Mafia style. Stealing poor slobs ready to be rolled . :laugh: B) B) :woohoo: :laugh:>>>

DRY SPIGOT Another major focus was on "subjective" injuries, meaning claims for such things as emotional distress and pain and suffering, as opposed to "objective" injuries, such as broken limbs. To get a handle on these claims, the notes on the slides show, McKinsey worked with Allstate to install Colossus, a computerized claim-evaluation system sold by Computer Sciences Corp. (CSC ) Colossus compares a claimant's injuries with a database of similar cases and recommends a settlement range. Plaintiffs' attorneys have alleged that insurers can "tune" Colossus to consistently spit out lowball offers.

Berardinelli's notes show one McKinsey slide stating that the system has been "extremely successful in reducing severities with reductions in the range of 20% for Colossus-evaluated claims." ("Severities" is insurance industry jargon referring to the size of claim payments.) In its written response to BusinessWeek, Allstate says that "Colossus is merely a tool used to assist in the valuation" of some bodily injury claims and that adjusters use their expertise to come up with appropriate settlements "on each individual claim."

One of the key elements of McKinsey's plan was reducing the number of claimants who turn to attorneys after an accident for help in collecting on their insurance. The consultants even forecast what the potential gains in this area would mean for Allstate's stock. A 25% drop in attorneys appearing in several categories of cases could add $1.60 to Allstate's share price, one slide states, according to Berardinelli's notes.

The boxing gloves slide was displayed in open court in a case against Allstate in Kentucky last year. It states that by "holding the line" on cases where accident victims hire lawyers, Allstate could achieve "a new distribution of settlement times" on subjective-injury claims. "By increasing the number of early unrepresented settlements," the slide says, Allstate could give 90% of these claims the "good hands" treatment, resolving them within about 200 days. But the slide shows the remaining 10% getting "boxing gloves" treatment, and a graph shows resolution of their claims taking as much as four years or longer.

In Berardinelli's view, this slide reflects what he sees as the current practice at Allstate. Claimants in the "good hands" category may get swift reimbursement, but they will end up with less than they're entitled to, he says. Those who hold out for more -- and retain a lawyer to help them get it -- face battering in the courts and potentially years of delay. "You can get your claims resolved promptly or fairly," he argues, "but not both." Allstate says some people hired lawyers because they were not familiar with the claims process.

Once the CCPR program was rolled out in 1995, the effect was quickly felt by the trial bar. "We would ordinarily settle one or two cases a month," recalls Whitney Buchanan, a plaintiffs' attorney in Albuquerque. But then, "Allstate simply turned off the taps."

In mounting a counterattack, plaintiffs' attorneys have had some success. Courts and regulators in a number of states, including New York, Pennsylvania, and Washington, have forced Allstate to halt or change its practice of handing out a controversial "Do I Need an Attorney?" form to people involved in accidents. And Colossus, now widely used in the insurance industry, has come under attack on a number of fronts, with attorneys alleging it is being used to lowball claims. Last year, Farmers Insurance Group, a unit of Zurich Financial Services, agreed in a nationwide settlement to stop using it for certain claims.

Loquacious and professorial-looking, Berardinelli began his quest for the McKinsey documents in a routine bad-faith suit he filed against Allstate in December, 2000, in Santa Fe County. In ordering Allstate to turn the McKinsey material over to Berardinelli, the trial judge ruled that the documents were not entitled to confidentiality but said Berardinel

MAY 1, 2006 LEGAL AFFAIRS

In Tough Hands At Allstate It's fighting accusations that its methods deny policyholders legitimate benefits

David Berardinelli is something of a bon vivant. The Santa Fe (N.M.) plaintiffs' lawyer collects fine wine, has chefs from local restaurants over to cook in his home, and restores classic Porsches. He's also about to become a published author.

His book, From Good Hands to Boxing Gloves, won't burn up the best-seller lists. But it's already making waves. It tells the story of the key role played by management consultant McKinsey & Co. in reengineering auto insurance claims operations at Allstate Corp. (ALL ) -- and it's a story Allstate doesn't want told.

In February, a New Mexico state court rejected Allstate's efforts to keep Berardinelli from publishing his book, which will be marketed to trial lawyers nationwide later this year. Since 2004, Allstate has been defying an order by the same court to make available public copies of some 12,500 PowerPoint slides McKinsey prepared for the insurer, which form the basis of the book. That's quite unusual -- big companies almost never ignore judicial orders. In a court filing, Allstate has characterized its actions as "respectful civil disobedience."

What is it that Allstate so badly wants to keep under wraps? In a written response to BusinessWeek, the insurer says the McKinsey material contains proprietary business secrets. The documents also present a clear risk to the company's reputation. The title of Berardinelli's book is drawn from a McKinsey slide that suggests that Allstate should treat some of its claimants with "boxing gloves," rather than with its trademark "good hands." Collectively, the documents present a portrait of business strategies that are at odds with the insurer's carefully cultivated public image. Rather than simply rushing to the scene of an accident and doling out cash, Allstate deploys a variety of systems set in place by McKinsey to make sure it pays the minimum necessary -- and it plays hardball with those who seek more.

Berardinelli, 57, has provided BusinessWeek an exclusive copy of a draft of the book, as well as more than 200 typed pages of notes he took on the McKinsey slides. His tale illuminates the largely hidden role McKinsey has played as a key architect of claims practices in use across the insurance industry today. In addition to advising Allstate, McKinsey has also done work for Farmers Insurance Group, USAA, State Farm, and Fireman's Fund (AZ ). While many of the cost-reduction strategies McKinsey recommended at Allstate remain in place, some have been reined in following legal and regulatory challenges in several states.

EPIC WAR Berardinelli's book is certainly a partisan one, written to support "bad faith" lawsuits that he and other attorneys have filed against Allstate alleging mistreatment of policyholders. He says that the McKinsey project, which lasted from 1992 until at least 1997, institutionalized aggressive practices aimed at enriching investors at the expense of customers. "When you strip away all the fancy jargon, all this is a plan for switching money from the policyholders' pockets to the shareholders' pockets," he maintains. In the decade after Allstate instituted the McKinsey program in 1995, the amount of money it paid out per premium dollar in car accident cases declined from about 63 cents to 47 cents, according to A.M. Best.

Mckinsey declined to comment, citing client confidentiality. But Allstate says Berardinelli's allegations are "unfounded and unproven." Rather than trying to cheat customers, the company says, its claims revamp was just good management: an effort to "become the premier claim organization in the industry." A major goal, it says, was to benefit policyholders by identifying "exaggerated and fraudulent claims." In its written response, Allstate further said its "processes are absolutely sound" and that it

CIAK: [ RE: Fire at one of my last rental ] , Monday, June 01, 2009 @ 7:49 PM I am a : Roofer The whole idea of conspiracy is to enable other people to take advantage of situations . I see it here in . I know what happens . I see people being taken advantage of because of it .

It doesn't have to be this way.

Chuck,

You are right, but only for those with the knowledge of how to work within the system, which I have learned much in the past year or so.

But, for those not familiar, such as any typical home owner, the topic in the following book review is the more established industry standard, maybe not in the majority of instances, but a significant enough cross section of insureds who are not treated with in a fair and equitable manner such as yourself and others familiar with the system.

For my own cause, I intend on learning as much as I can, so that rather than the system change to my likings, I can use it to my and my customers advantage.

Ed

Please read the following:

http://www.businessweek.com/magazine/content/06_18/b3982072.htm

MAY 1, 2006 LEGAL AFFAIRS

In Tough Hands At Allstate It's fighting accusations that its methods deny policyholders legitimate benefits

David Berardinelli is something of a bon vivant. The Santa Fe (N.M.) plaintiffs' lawyer collects fine wine, has chefs from local restaurants over to cook in his home, and restores classic Porsches. He's also about to become a published author.

His book, From Good Hands to Boxing Gloves, won't burn up the best-seller lists. But it's already making waves. It tells the story of the key role played by management consultant McKinsey & Co. in reengineering auto insurance claims operations at Allstate Corp. (ALL ) -- and it's a story Allstate doesn't want told.

In February, a New Mexico state court rejected Allstate's efforts to keep Berardinelli from publishing his book, which will be marketed to trial lawyers nationwide later this year. Since 2004, Allstate has been defying an order by the same court to make available public copies of some 12,500 PowerPoint slides McKinsey prepared for the insurer, which form the basis of the book. That's quite unusual -- big companies almost never ignore judicial orders. In a court filing, Allstate has characterized its actions as "respectful civil disobedience."

What is it that Allstate so badly wants to keep under wraps? In a written response to BusinessWeek, the insurer says the McKinsey material contains proprietary business secrets. The documents also present a clear risk to the company's reputation. The title of Berardinelli's book is drawn from a McKinsey slide that suggests that Allstate should treat some of its claimants with "boxing gloves," rather than with its trademark "good hands." Collectively, the documents present a portrait of business strategies that are at odds with the insurer's carefully cultivated public image. Rather than simply rushing to the scene of an accident and doling out cash, Allstate deploys a variety of systems set in place by McKinsey to make sure it pays the minimum necessary -- and it plays hardball with those who seek more.

Berardinelli, 57, has provided BusinessWeek an exclusive copy of a draft of the book, as well as more than 200 typed pages of notes he took on the McKinsey slides. His tale illuminates the largely hidden role McKinsey has played as a key architect of claims practices in use across the insurance industry today. In addition to advising Allstate, McKinsey has also done work for Farmers Insurance Group, USAA, State Farm, and Fireman's Fund (AZ ). While many of the cost-reduction strategies McKinsey recommended at Allstate remain in place, some have been reined in following legal and regulatory challenges in several states.

EPIC WAR Berardinelli's book is certainly a partisan one, written to support "bad faith" lawsuits that he and other attorneys have filed against Allstate a