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New Texas law means Harvey victims have good reason to file claims by Friday

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posted on Aug, 29 2017 @ 07:44 AM
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Well they say timing is everything.

Apparently Texas passed a law some time ago and the law will go into effect September 1st.

The law affects how people file insurance claims.

The law also may reduce penalties levied on insurance companies when "paying off" "late".

Who could have seen this coming ?

Now people have to deal with all the legal stuff aside from the complete disaster and mass displacements.

Apparently the main purpose of this law was to crackdown on "frivolous" lawsuits !!

Always something !!


New Texas law means Harvey victims have good reason to file claims by Friday


A new law, set to take effect Friday, aims to crack down on frivolous insurance lawsuits. But House Bill 1774 also reduces the penalty fees that insurance companies face for late payments if the policyholder files a lawsuit.

For many Texans ravaged by the rain and winds Hurricane Harvey carried ashore this past weekend, filing an insurance claim for the damage their property sustained is probably the farthest thing from their minds right now. But waiting to submit a claim past Friday could cost them big.

A new law set to take effect Friday aims to crack down on frivolous insurance lawsuits. But House Bill 1774 also reduces the penalty interest rate insurance companies face for late payments if the policyholder files a lawsuit.



here's a sensationalized version...
Texas Just Passed a New Law That Could Screw Harvey Victims





posted on Aug, 29 2017 @ 07:46 AM
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Government "for the people, by the people" ay?

This is just a disgusting thing to read.



posted on Aug, 29 2017 @ 07:47 AM
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Dont worry .
The insurance companies have screwing their customers down to a fine art .



posted on Aug, 29 2017 @ 08:30 AM
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If insurance companies are late in paying claims as a result of a lawsuit, they must pay an additional penalty to policyholders. Under current state law, that penalty comes in the form of a fee that totals 18 percent of the claim. For claims filed after Friday, that rate will be determined by a market-based formula that is capped at 20 percent. Currently, the rate would be 10 percent.

It sounds like a benefit ? cap at 20% verses 18%. ?

edit on 29-8-2017 by Plotus because: (no reason given)



posted on Aug, 29 2017 @ 08:34 AM
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Most insurance won't cover flooding anyway, so it won't change how screwed those people are.

And just yesterday I was reading that the national flood insurance program is already $26 Billion in debt, because their premiums aren't set high enough so they haven't even recovered from Katrina yet. Harvey will likely add 10's of Billions more in claims, and could well make the flood insurance program totally insolvent.



posted on Aug, 29 2017 @ 08:41 AM
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a reply to: AndyFromMichigan




Most insurance won't cover flooding anyway, so it won't change how screwed those people are.


I hear Terrazzo floors are nice but Trump better show up in Houston with a convoy of sheet rock trucks if this is true.
I know that may sound "socialist" sorry if it offends anyone.



posted on Aug, 29 2017 @ 08:52 AM
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Slightly off topic a bit. Never mind insurance claims, just where is FEMA. According to all the doom merchants on here FEMA is supposed to be the all powerful federal group that's going to put everyone in their camps. But what I've seen on the news outlets FEMA is having trouble blowing it's own nose never mind helping the poor people of Texas.



posted on Aug, 29 2017 @ 08:56 AM
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If you take money in federal aid,you also sign over half of your estate when you die,what a racket,any kind of aid is not free ,even if it is your own tax dollars



posted on Aug, 29 2017 @ 09:21 AM
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a reply to: xuenchen

How many people are filing false claims that don't even live there in the hopes of being swept into a pay out pool where they get a piece of the pie without much scrutiny to their identity?

The grifter, scam artist and swindlers are lining up, just like the fake online charities.

And the gubment. All that money might be well intentioned but will be drained by the trickle down effect.



posted on Aug, 29 2017 @ 09:29 AM
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a reply to: intrptr

Good question.




posted on Aug, 29 2017 @ 09:46 AM
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a reply to: xuenchen

You going to see a financial disaster of biblical proportions on this.
I was just looking over some of the projections and this is going to make any of the others such as Katrina look like a backyard birthday party.

The amount of embezzlement, fraud and out right theft will go down in the record books.

And I'll say it again, not long ago, ARAMCO took over operations of some of the major refineries in the U.S.

The key component of any criminal act is opportunity and they have that , for a year or more.

Buck



posted on Aug, 29 2017 @ 09:51 AM
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a reply to: xuenchen

This is why the Republicans AND Democrats need to get their head out of their ass and realize that neither the DNC or GOP sponsored candidates work for their constituents.

Everything our gov't does is for the behalf of the lobbyist regardless of a 'D' or an 'R'.

Time to put political ideology to the side and come together to take on the DNC,MSM,GOP, and lobbyist.



posted on Aug, 29 2017 @ 09:56 AM
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a reply to: crayzeed

For the most part, I don't think the folks down on the coast are even considering FEMA. We are just helping our own in Texas.

If any of you aren't from Texas, and haven't heard about our officially unofficial state grocer, HEB....its the greatest company to ever exist. Screw FEMA, screw Wal Mart....we are taking care of our own.



posted on Aug, 29 2017 @ 10:02 AM
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a reply to: AndyFromMichigan
I have been wondering how this is going to play out.

I have noticed for at least the last two years, that somewhere in this country, and world wide, many have experienced some major destructive force, at least once a week if not more often.

The number of people that wake up homeless and stripped of nearly all their possessions, seems to be increasing daily.

Insurance companies only make money when they can collect more money then that have to pay out, the pay outs are increasing and the number of people that can afford insurance is dwindling. Add to that the factor of the number of people that are giving up home ownership or priced out of it, and you can a industry in trouble.

My rates have increased to the point that I am thinking about ditching insurance, but the major drawback to that the number of catastrophic events are increasing.

The times the do seem to a changing, in more ways then we can count. That may be why they work so hard to keep us distracted with BS. They would have their hands full for sure if people started paying attention to the real problems we may all have to face.



posted on Aug, 29 2017 @ 10:02 AM
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originally posted by: interupt42
a reply to: xuenchen

This is why the Republicans AND Democrats need to get their head out of their ass and realize that neither the DNC or GOP sponsored candidates work for their constituents.

Everything our gov't does is for the behalf of the lobbyist regardless of a 'D' or an 'R'.

Time to put political ideology to the side and come together to take on the DNC,MSM,GOP, and lobbyist.


Time to start campaigning for 2018 !!

Line up the replacement candidates and get the advertising going !!




posted on Aug, 29 2017 @ 10:56 AM
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originally posted by: bigfatfurrytexan
a reply to: crayzeed

For the most part, I don't think the folks down on the coast are even considering FEMA. We are just helping our own in Texas.

If any of you aren't from Texas, and haven't heard about our officially unofficial state grocer, HEB....its the greatest company to ever exist. Screw FEMA, screw Wal Mart....we are taking care of our own.


True, the HEB grocery chain--which is much more than groceries, has the loyalty and trust of many Texans even if it may be difficult to say exactly why. It is a totally Texas company and that is probably the main reason why we love it. They show heart in many ways by giving back to communities that they serve.



posted on Aug, 29 2017 @ 11:01 AM
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a reply to: Aliensun

Go to the average Wal Mart, and the average HEB....the crowd that goes to HEB is more my taste. Except the HEB in Temple on 31st street, that is.

But the experience at HEB is better. THe proteins are much higher quality. The produce is fresher. The frozen stuff doesn't taste freezer burnt. The employees seem better qualified to serve.

Its just a better place to shop. I won't buy beef at Wal Mart.



posted on Aug, 29 2017 @ 01:26 PM
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originally posted by: Oldtimer2
If you take money in federal aid,you also sign over half of your estate when you die,what a racket,any kind of aid is not free ,even if it is your own tax dollars

Wow, really? Sounds like that reverse mortgage scam.

Like they always say, if it's free or sounds to good to be true, it usually is.



posted on Aug, 29 2017 @ 06:05 PM
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Apparently it is a rumor. Good thing for that.

RUMOR: You must file insurance claims by September 1 due to a change in Texas law.

FACT: Your normal insurance claims process has not changed. This rumor stems from House Bill 1774, which the Texas legislature passed to reduce the number of lawsuits against insurance companies. The law requires more detailed paperwork from attorneys before they can file a lawsuit against an insurance company and reduces the amount of penalty interest you can collect if you win. Texas Congressman Joaquin Castro is pushing for the legislature to go into special session and delay enforcement of the new law.
Source



posted on Aug, 29 2017 @ 06:52 PM
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originally posted by: violet

originally posted by: Oldtimer2
If you take money in federal aid,you also sign over half of your estate when you die,what a racket,any kind of aid is not free ,even if it is your own tax dollars

Wow, really? Sounds like that reverse mortgage scam.

Like they always say, if it's free or sounds to good to be true, it usually is.



FEMA helps most disaster victims through the Individuals and Households Program (IHP). The IHP can provide temporary shelter in government housing or the money to rent an apartment or house. While you're residing elsewhere, they offer the financial resources to repair or rebuild your home. Funds for medical attention, funeral expenses, transportation needs (including a replacement vehicle), and moving costs are also available. In addition, IHP assistance is there for work or school related essentials like clothing, computers and books. . .

. . . Tax-free money received from IHP is not part of your personal income. Better yet, it's not a loan. You won't have to worry about paying off a troublesome loan as you're rebuilding your life. But IHP money can only be used for disaster-related purposes, so you can't just apply in the hopes of redecorating your house. Just to keep tabs on this provision, FEMA requires that you retain your receipts and bills for three years.
www.legalzoom.com...



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