Many of you have spent time in areas devastated by Hurricane Ian. The stories you have shared are both heartbreaking and inspirational. The heartbreaking ones typically deal with, besides the resident’s physical loss, commentary from homeowners who said “they kept banging on my front door until I finally answered” or “I didn’t know what to do …they said if I didn’t sign up, I couldn’t talk to my insurance company.” I featured one such homeowner’s story in our last newsletter.
The incredible Department of Financial Services (DFS) team at the various insurance villages in Lee and Charlotte counties were there in full force to bring some relief to those who had become a victim of the hustle, helping residents exercise their 10 day right of rescission for certain contracts or tracking the unlicensed roofers who were offering the moon. It begs the question…why won’t the professions involved with an insurance transaction police their own?
In a recent LinkedIn exchange prompted by the last newsletter, I asked that very question to a professional who wanted to rely on her trade association to pursue those who were misbehaving. I had called out the misbehavior of a third party interfering in an insurance claim and was so hopeful that those following the LinkedIn discussion would step up and say, “we won’t stand for this in our profession and one of us that are the professionals in this industry area will get in touch with DFS to see if we can stop this insanity.” Instead I was stunned to see that this professional was simply going to let the trade association do all the work. When I pressed and said that there always needs to be a symphony of voices when assisting regulators in trying to stop those from duping consumers, I didn’t get anywhere.
All this to say, “If you see something, say something!” It’s one thing for industry groups to assist in monitoring those who run afoul of the law or slide on the edge. It is an entirely different voice when another professional or small group of professionals request a regulatory meeting and report first-hand what they are seeing in the field. It is my hope that all of us will police our own and help our regulator soldiers do what they can to protect the policyholders we serve. If we can help guide you, we are a phone call away.
We wish our readers a fun & safe Halloween next Monday and to let your inner child out a bit in what’s turned out to be a tough year for many. We’ve included a drawing from our long-time dear friend Lisa Borders who has done a “doggone” good job capturing the spirit of the season!”
Next up is a great assortment of tales, tidbits and toasts!
LMA Newsletter of 10-24-22