Jimbo the Clown strikes again, gives the CEO of the insolvent Louisiana Citizens Insurance a $50,000 pay raise
This, after raising commercial rates in New Orleans 45%. Jeff Adelson has the sad tale of the latest state sponsored insurance jackassery for NOLA.
This is almost enough to make me feel grateful to have Mike Chaney here in Mississippi. What a sad state of insurance we reside down here in Soggy Bottom.
So how can you can still sell insurance in Louisiana after admitting to a felony? Simple, you use the company that was collecting graft as a front that’s what. Click the pic to nab the 5 page pdf.
One naturally wonders if the Whitmers are still making money from the Shadow Lake aka River Birch account despite copping a plea deal, ostensibly to testify against Team River Birch. Stan Marsh well explains…..
That I am again on assignment, which means I’ll be pissing someone off shortly. Meantime I’d like to point out that Rossie has slithered out from under his rock and this must be addressed along with the latest bit of Jimbo the Clown jackassery. Stay tuned.
Property insurance market has recovered, Donelon says ~ AP via NOLA.com
Folks the story comments well tell the tale. Jimbo has gone off the deep end and that does not count the Citizens debacle.
Shudda lived in Grand Isle….
Jimbo the Clown strikes again! Read the rest of this entry »
Folks we’ve covered the entire sad state of affairs at Louisiana Citizens Insurance, which adjusted its post Katrina claims in bad faith and has been trying avoid the consequences of such literally since the early days after the storm. The latest developments unfolded Monday with Becky Mowbray filing this short and not so sweet story that Citizens has exhausted its appellate remedies and the Plaintiff’s lawyers in the class action bad faith case could seize over $100MM from Citizens’ bank accounts. Sadly Louisiana Insurance Commish Jim “Jimbo the Clown” Donelon remains in denial and this is not good financially for the rate paying public in Louisiana as Ted Griggs at the Advocate explains:
Insurance Commissioner Jim Donelon vowed to continue the fight, while plaintiffs’ attorneys said it’s time for Citizens to pay policyholders.
“We will proceed immediately to complete the seizure and collect the judgment, and we will also move quickly to set the pending claims for hearing before the trial court,” attorney Fred Herman, who represents the policyholders, said in a news release…….
“Our lawyers are urging us to continue the appeal to the U.S. Supreme Court, and we have another state court initiative in mind, as well,” Donelon said.
I’ll again point out this is standard jackassery for Donlon, Read the rest of this entry »
Folks, who wudda thunk that a blog that cut its teeth bashing all things State Farm would make friends in the enemy camp so I have a secret to share: I’ve occasionally collaborated with Deb over at Dimechimes Claims Adjuster Information beginning with the Gulf oil spill, which impacted her home State of Florida. The association has added a some color to my perceptions of the operation of GCCF, which I hope to share soon here on Slabbed.
Along those lines I’ll add that there is a newish local WordPress blog that I subscribe to and that is the one belonging to Ignatius Jeff Riley. I warned Ignatius that me mentioning his blog on Slabbed could well put a target on his back but he continues undaunted.
Seemingly completely unrelated is a story Anita Lee recently wrote an article for the Sun Herald on an insurance industry trade group bemoaning the fact Mississippi does not have a state-wide building code. Yes, we are wire tight down here in South Mississippi on that issue but the fact the rest of the state doesn’t have a uniform building code supposedly causes high insurance rates according to experts like Jimbo the Clown, from whom Anita Read the rest of this entry »
BREAKING: The Idiots at Louisiana Citziens to squander $500,000 in scarce reserves to appeal judgment to the US Supreme Court (Updated)
How sad that an insurer set up via taxpayer fiat is so against the policyholders it was created to serve. I’ll add that based upon the last legislative auditor report such a move tells me the Citizens is insolvent. I wonder if they are still running quickbooks? What a joke they are!
And to think just 3 years ago the lit and hallucinating buffoons on the Wall Street Journal Editorial Board were praising Jimbo the Clown and Louisiana Citizens Insurance.
File this one under sold out.
It did not take the Supreme Court long to bitchslap Jimbo down and make no mistake folks this is all Jimbo the Clown. Even worse, he claims to have more ideas to make this mess worse. Whadda Clown!
BREAKING: Jimbo the Clown’s legacy to Louisiana policyholder revealed. Louisiana Citizens Insurance has assets seized to satisfy court judgment
And folks this is what happens when a clown is elected as Insurance Commish. Heckuva job Jimbo!
Tueday Music: Special dedication to Jimbo the Clown and the lit and hallucinating buffoons on the Wall Street Journal Editorial Board
Folks while we celebrate 4 years of Slabbed please join me in re visiting one of my more timeless insurance post, Around the GO Zone in 60 Seconds: Drinking ‘Shroom juice at the Wall Street Journal, Cottages, Community, Warr and Wind Pool whereby I opined the Wall Street journal Editorial Board were a bunch of “lit and hallucinating buffoons” for writing this OpEd that extolled the virtues of State Farm and Commish Jim Donelon aka Jimbo the Clown. The sheer stupidity of the whole gang is simply timeless, especially since everyone kinda knows Louisiana Citizens is insolvent, got a going concern opinion and the like.
Well folks, last Friday the Louisiana Supreme Court ruled, in an open and shut case, that Louisiana Citizens did not adjust claims per the consumer protection portion of the state insurance law and was on the hook for bad faith penalties. Despite the split court I’ll add this case was open and shut except in certain results oriented courthouse circles who also know Citizens is insolvent and would give the entity a pass because of it, no doubt to save themselves the insurance assessment that is certainty coming everyone’s way now that the law has been correctly applied.
I everyone hope remembers how Citizens was hijacked and used as the personal piggy banks for insurance industry cronies connected to luminaries such as former Commish Robert Wooley and now Jimbo the Clown himself. We’ve blogged lots on the Citizens Insurance Insolvency and parade of disaster CEO’s that have stunk up the place. We’ve also blogged on the Wall Street Journal and the PR plants that spout self-serving crap for big business on its editorial pages. But frankly I never thought I’d blog on Jimbo the Clown bitching a blue streak because the Supreme Court correctly ruled in favor of the policyholder in an open and shut case, especially given his very recent campaign ads where he trumpeted being tough on an insurance company fining them $250,000 for fucking people over after Katrina. I reckon Jimbo thinks the voters in Louisiana are schmucks.
So for Jimbo, the lit and hallucinating buffoons at the Wall Street Journal Editorial Board and for the shills in Herr Hartwig’s boiler room today’s music is for you. ~ sop
And there is also a rumor going around State Farm will be opening a new claims center in Metairie someplace between the Lowes and the I-10 Service Road over by Causeway. Lest I digress…
For our newer readers we cut our teeth here in the local congroovancy covering the myriad of ways State Farm stuck it to its customers down here after Hurricane Katrina. Along those lines we’ve had an interest in this region’s insurance commissioners including Louisiana’s Jim Donelon, who we affectionately know here on Slabbed as Jimbo the Clown a man so full of shit he didn’t know AIG was a property and casualty insurance company. Feckless regulators like Jimbo are part of the reason the taxpayers got stuck with the AIG tab and associated Bush era socialism of the US government owning the vast majority of the once insolvent insurance giant. Simply put Donelon could not regulate his way out of a wet paper bag. (Click here for Slabbed’s file photo of Donelon.)
Here is the AP story on the latest State Farm rate hike via Fox 8, the latest of many such increases since Katrina as we once again point out the absurdity of giving these global financial services conglomerates an anti trust exemption.