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Wow, I can't believe I actually hear some of you sympathizing with insurance companies. I am impressed. I have been an agent for 34 years and when any of my customers have a claim I fight to the finish for them but I also see many fraudulent claims that drive up the cost of insurance. This also puts you in a position when you are honest and not trying to rip off the company that they put you under scrutiny like a dishonest person. Unfortunately the dishonest people make if difficult for the honest people. The marketing rep for one of my companies was recently in and told about a case where a guy insured a custom bike for $60,000 and two weeks later reported it stolen. After investigating the company found that the insured took it to his friends house and asked him to keep it for a few weeks. The insured is now in prison but guess what? He was an attorney. A few years ago I was talking to the president of one of our companies that only insures homes in Georgia. I asked him if the storms we had that year had caused them loss problems. He said its not the storms. It people burning their houses that cause loss problems. He said I don't know how they do it but if the economy downturns you can get ready because the fire lossed go up. He said you could go back to the beginning of the company and see that everytime the economy goes backwards fire losses go up. We all have to pay for fraudulent claims. Thats it for todays insurance class.

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