There shouldn’t be a single insurance executive arrested because nobody’s going after the contractors that are creating the damage
@Ryno762
9 ай бұрын
Two wrongs don't make a right, both are hurting insureds and both should be out in jail
@RoofingInsights3.0
9 ай бұрын
False, contractors are being prosecuted and getting punished for that all over the country!
@DavidSummerly
9 ай бұрын
Just ignorant or insurance company troll account?
@hahahahhahahhaha786
9 ай бұрын
@@RoofingInsights3.0 what contractors are getting put in jail for creating damage? I almost never see it and I know for a fact it’s rampant within the industry residentially.
@Doug_Quinn
9 ай бұрын
@@hahahahhahahhaha786”I never see it” you’re literally saying this in comments of a story that reports 3 contractors have been arrested. FYI, the count is now up to 8. Because you never see it, doesn’t mean it’s not happening. FYI: insurance executive arrests? Zero.
@HookAgency
9 ай бұрын
Classic 'Don't get waxed!' shirt - love the 'smooth criminal' lady lololol
@justinhuber5497
9 ай бұрын
Is the state going to pay for that upgrade on every single roof in Texas or is Steve going to pay for it? It definitely shouldn’t fall on the homeowner. Also, insurance covers wind damaged roofs even though the wind speed was lower than the manufacturers warranty so why would it be any different with hail? Hey Steve, stop being a shill for billion dollar insurance companies.
@RoofingInsights3.0
9 ай бұрын
Happy New Year Everyone!
@derrickvittitow9930
9 ай бұрын
Follow the money with insurance in Florida. The insurance companies are operating with-in the laws that their lobbyist help get passed. Presidential campaigns are expensive y’all!!! Of course regulations will only arrest; 7 homeowners, 4 adjusters, 3 contractors, 1 agent, and a partridge in a pear tree. All jokes aside it is kind of comical, that the state only through the book at 15 individuals, considering how much fraud they claim is out there.
@Doug_Quinn
9 ай бұрын
Correct, follow the money all the way up to the Hedge & PE funds anchored offshore that own these Florida co’s & the 10’s of millions of dollars in lobbying & campaign contributions they’ve spread around Florida. FYI: the contractor arrest counts is now up to 8 since Hurricane Ian while the insurance executive arrest count is still ZERO. Fraud happens on all sides, but unfortunately it’s only investigated & prosecuted to defend insurance co’s.
@jonathonbroce
9 ай бұрын
Following the money really means that 1 in every 205 homeowners in Florida has litigation pending against the insurance companies. The AOB created ambulance chasing for the attorneys. The strategy of maximizing every claim is what hurt homeowners in Florida. If we talk about following the money, governor Desantis did not side on the attorneys side which surprised me bc he is an attorney as well. But something needed to change and reset the market. They created a new market to help drive down the 5X premiums we are seeing here. Companies like Slide will help balance the deficit in insurers.
@Doug_Quinn
9 ай бұрын
perhaps the fact that a huge percentage of all consumer complaints are against Fla insurance co’s is what drives litigation (according to NAIC data). Perhaps the fact that the insurers’ own adjusters are coming forward detailing how their reports are being changed to reduce claims by 70, 80, even 90%. Perhaps because Florida insco’s have double the national average of claims that took over 60 days to settle for four out of the last six years. Perhaps the fact that 200,000 hurricane Ian claims have been closed with zero payment. I have no doubt there are litigants gaming the system, but you cannot discount every suit as frivolous. Florida policyholders are getting creamed while DFS/OIR sit in their hands doing nothing (at least the hands that aren’t out reaching for a campaign contribution from the insurance industry). Many politicians are attorneys. That doesn’t mean there is a bias for siding with plaintiff attorneys… there are just as many attorneys who are profiting by defending insurance companies so that piece balances out. The ‘new market’ is BECAUSE premiums have doubled & tripled. If Starbucks tripled the price of a latte, people would be tripping over themselves to come to Florida to open new coffee shops. Guess what slide is doing to the policyholders they took out of citizens? Think they’re lowering premiums? Read all about it: wapo.st/48xLRAO
@jonathonbroce
9 ай бұрын
I have read quite a bit about Slide and their approach. It will take a few years for the market premiums to come down and stabilize. Once the bulk of the frivolous suits are settled. Being a florida homeonwer and roofing contractor I will say that something had to change. The bulk of the issues here were the AOB abuses. When there is a lawsuit for 1 out of every 205 homeowners then thats a litigation issue as well. Are their bad ICs? Of course there are, but it was predicated by AOB abuse. Florida holds 81% of ALL PnC litigation in America yet only carries 9% of all the PnC losses. Something has to change and reset, getting rid of the AOB was a good first step in that direction. Now I do not agree that there are no recoverable attorneys fees if the policyholder has to sue. I do think that they should be responsible if they lose the suit. But to have the IC pay all the attorney fees even if they win was out of control. Here is a great watch as well. A third party outside our industry that sees the issues FL homeowners are facing kzitem.info/news/bejne/xJmhtJWOZpWno6A @@Doug_Quinn
@Doug_Quinn
9 ай бұрын
@@jonathonbrocewatched the video, pretty interesting. I agree with some things, others not. I promise you that there’s a LOT going on that folks have no idea is happening (this gent included). One big issue I see is they don’t mention insurer fraud at all. The same old fallacy that all fraud is perpetrated against insurance companies, when we know that fraud happens on all sides of the claims process but it is only investigated and prosecuted to defend insurers. It’s not always the insurance companies, committing fraud, often it’s the TPA’s & engineering firms they hire. The biggest point here is that missed is about Fla insco’s “losing money” & going insolvent. The fact is many of the Florida insurance companies, have their assets drained on purpose via excessive ownership dividends & executive compensation & by payments to their own corporate affiliates. Not ONE insolvency report lists litigation as a cause. Not ONE of the companies that left the state either. The state of florida DFS’ own report lists bad business practices & inappropriate payments to affiliates as primary reasons these co’s go under. They drain the assets out of the insurance company, keep just enough reserves to keep the regulators happy, and if the company goes under, they stick all their open claims into FIGA as they march away counting all their money. UPC just shifted all their operations to a 2nd co they own, changed the name of their holding company from United to American Coastal & continued with business as usual. Btw, their insiders bought a bunch of shares just before UPC went insolvent, while the stock was trading @ .45 to .85/share. Guess where it is today a year later? $9.71/shr. How about a nice 1000% + return on your money as a reward for bankrupting your company and leaving Florida policyholders twisting in the wind. When I say follow the money, that’s what I mean. The new “insurer, accountability act” had a clause in it requiring insurer transparency about payment to affiliates. We were excited, because finally they were going to disclose the thing that nobody wants to talk about. The bill hit resistance, and they removed that clause. The bill passed the next day. Where your money is really going is a closely guarded secret in Florida & many peoples corporate luxury lifestyles, investment portfolios, and political careers depend on protecting the status quo while ignoring the suffering of Florida policyholders & taxpayers.
@ThatRoofGuy
9 ай бұрын
The carrier is UPC. I could tell you a lot. I have emails from the whistleblowers
@jonathonbroce
9 ай бұрын
Is the guy on the roof wearing the famous “Nail guns & roses” shirt from Hook Agency?
@HookAgency
9 ай бұрын
LOLOL - right? Seeing those in airports now, I'm like "Friend?!"
@DavidSummerly
9 ай бұрын
Any time a business uses Veteran or Christian to sell you, odds are you’ll get ripped off.
@RoofingInsights3.0
9 ай бұрын
You are not wrong
@jonathonbroce
9 ай бұрын
I generally agree with this
@brantbossons-beitler7199
9 ай бұрын
If TX insurance companies are going to require class 4 shingles installed on residential properties then that law should aLeo include a requirement that policies must require appropriate pricing for insurance covered replacement to cover class 4 shingles. Trying to mandate private shingle manufacturers to amend their warranties seems like a government overreach. Another solution is for the insurance co’s so simply stop insuring homes with Class 3 or lower shingled roofs. Tell property owners that in order to maintain coverage their next replacement must be class 4 or better but let’s be honest everyone knows they won’t for the same reason they continue to collect premiums for roofs well past their useful life then claim “wear and tear” when a a claim is filed for a covered loss when they could just send a replace or non-renew notice. They want to continue collecting those premiums for investment capital. IC’s sell more policies then their underwriting departments can or choose to keep track of. It should be as simple as “you have a 20 year warranties roof. At the time you purchased your policy with us your roof was 10 years old which makes the roof 18yrs old now. We are giving you two years to replace your roof or we will non-renew your policy.”
@Jmauck
9 ай бұрын
I have had salesman steal from my company. It’s a shitty situation to deal with!
@reywithae
9 ай бұрын
Great video Dimitry, and the conference was life changing!
@RoofingInsights3.0
9 ай бұрын
Thanks for feedback! Glad you enjoyed it!
@mikehamm648
9 ай бұрын
It happened to me. Salesman accepted credit card to his account instead of having customer call the office . Also salesman deposited checks remotely with his cell phone into his account, and his name wasn’t even on the check. It caught up with him and he had to beg his parents to pay back what he stole.
@ericrhodesbusiness
9 ай бұрын
Every time you agree with Badger an angel passes away😂
@RoofingInsights3.0
9 ай бұрын
Hahaha, you made my day
@ericrhodesbusiness
9 ай бұрын
@@RoofingInsights3.0 😅 happy new year!!
@richardfabery4765
9 ай бұрын
If insurance companies aren't willing to pay for upgrades. Why should homeowners be forced to.
@hendrix4192
9 ай бұрын
That's wild. He thinks the insurance companies are shorting Florida homeowners by $25B, that's still a drop in the bucket to these $100B+ insurance companies.
@tonymartin6274
9 ай бұрын
Questions about the idea of the required class 4 shingle. I paused the video and its states they should allow shingles to exclude anything under 1.5” hail. Will insurance take advantage of this as the roof gets older? How do you determine the age the roof will start failing with less then 1.5” hail? Will insurance still baulk and say not to damage on older class 4 roofs with 1.25” hail? What about length of storms- 1” hail that last 10+ minutes is pretty damaging- and hat would insurance do then? How would this as a whole negatively impact suppliers? Cost, availability? Etc… Same question with manufacturers? And obviously how with this impact roofers as a whole? What changes would it create with claims specifically in the future with the ins industry seeming to switch to 3rd parties like seek now. My opinion if it matters - I do think class 4 shingles are great. But I feel insurance is going to take advantage of laws like this and it’s going to hurt roofing and homeowners. Roofs that do have damage will take more resources to get approved. Pros - it’s going to take our states with too many crappy roofing contractors. I do think this will force the sophistication of roofing which is needed.
@ericrhodesbusiness
9 ай бұрын
Steve doesn't care. Apparently Dimitri doesn't either. Ridiculous notion with good intentions will get extremely messy. Instead of the market pricing things, they want the state government to demand a massive change with what would likely be a horrible transition that only benefits the insurers. They all have the option to buy class 4 shingles now.
@tonymartin6274
9 ай бұрын
I would love a full video on the topic. Northern Colorado has a county with required class 4 shingles. I think in time it will be an interesting case study. Either way, it’s likely going to happen more and more.
@mattaconda77
9 ай бұрын
Guy hiding on the roof Going down the ladder like a pro 🤣
@dbassett.roofing.renovation
9 ай бұрын
Texas insurance companies already offer discounts for impact resistant roof materials. Steve should encourage his insurance companies to increase their discounts to increase the number of Class 4 roofs that get installed.
@andreykaragaev3609
9 ай бұрын
Love the news every Sunday . Great to know what’s going on in the Industry. Thank you Roofinginsights!
@eag8999
9 ай бұрын
Funny enough I know of SimpliRoofing's scamming ways through an ex sales manager that now has his own company that scams it's salesman.
@RoofingInsights3.0
9 ай бұрын
Thanks for sharing!!!
@RoofingInsights3.0
9 ай бұрын
Consult/Connect with Dmitry: dmitrylipinskiy.com/ 🏠 HOMEOWNERS: find your next contractor w/$20k guarantee directorii.com 🛠 ROOFERS: grow your business roofing-school.com Join Dmitry's daily marketing program: www.mymarketingfitness.com/
@ktransferllc
9 ай бұрын
bringing insurance policies nationwide under the umbrella of Fiduciary obligation would go a long way; restoring them to the mutualistic behavior they once had when adjusters not algorithms, made decisions on claims
@scottpelley7372
9 ай бұрын
Thank you for the videos and continued learning
@RoofingInsights3.0
9 ай бұрын
You are very welcome!
@hahahahhahahhaha786
9 ай бұрын
Dimitri, the government should not be involved in this. Insurance companies should incentivize home owners with great rates for having hail rated products on their homes.
@RoofingInsights3.0
9 ай бұрын
They have been doing that for years
@hahahahhahahhaha786
9 ай бұрын
@@RoofingInsights3.0 maybe the savings aren’t incentivizing or homeowners aren’t being made aware of the incentive. I feel like the only people who know about better rates for hail rated products on the people who install them in the insurance restoration business
@ericrhodesbusiness
9 ай бұрын
@DmitryLipinskiyRI massive government control, demands and overhaul almost always end poorly. This is not the answer.
@1roofman53
9 ай бұрын
Happy New Year, Dimitry! Thank you for your good work in these videos. Well done.
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