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How I wanna be a PP Pro
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Discussion Starter · #1 ·
I sure hope everyone on these forums understand what these companies do to you when you QUIT!!!:censored:

Today I get ANOTHER claim on my E&O Insurance policy on a property we have NEVER been to AND we have not worked for this Service Company since 2005 +/-.

NOW everyone will say this is a simple mistake and they will not keep the claim on my old policy? YEP that is right BUT I STILL HAVE TO PAY THE LAWFIRM FOR THEIR TIME @$250/HOUR TO GET THIS MESS STRAIGHTENED OUT!!!!

I'm crazy mad over this nonsense. I also want to call these homeowners and offer my "assistance" in going after the Service Company but you and I know that the poor paid contractor will get hosed so I won't. I appears another family got a trashout done on them in ERROR. :yes:
 

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I sure hope everyone on these forums understand what these companies do to you when you QUIT!!!:censored:

Today I get ANOTHER claim on my E&O Insurance policy on a property we have NEVER been to AND we have not worked for this Service Company since 2005 +/-.

NOW everyone will say this is a simple mistake and they will not keep the claim on my old policy? YEP that is right BUT I STILL HAVE TO PAY THE LAWFIRM FOR THEIR TIME @$250/HOUR TO GET THIS MESS STRAIGHTENED OUT!!!!

I'm crazy mad over this nonsense. I also want to call these homeowners and offer my "assistance" in going after the Service Company but you and I know that the poor paid contractor will get hosed so I won't. I appears another family got a trashout done on them in ERROR. :yes:
This is disgusting
 

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Wannabe, are you talking about $250 per hour to the lawfirm that Safeguard keeps on retainer? Oopps, or whomever the company is.
 

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Contractor
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NOW everyone will say this is a simple mistake and they will not keep the claim on my old policy? YEP that is right BUT I STILL HAVE TO PAY THE LAWFIRM FOR THEIR TIME @$250/HOUR TO GET THIS MESS STRAIGHTENED OUT!!!!

Why would you have to pay for an Attorney to straighten out the mess... It's against your insurance company.
 

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If you carry insurance such as York Jersey, as soon as a company like Safeguard puts in a claim, there are attorneys on retainer in Missouri, who are paid to mediate a deal with the plaintiff before it goes any further. Their fees are paid by guess who...
 

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How I wanna be a PP Pro
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1,103 Posts
Discussion Starter · #7 ·
GTX,

Spot on. I guess I should say that I will only pay up to my deductible of $5000. But these bogus filings will bankrupt most just as fast as valid claims.
 

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Business Consultant
Media, Investigative Journalism, Business Consultant
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2005...8 years???? Isn't that a little over the statutes????? Or is it coming in just under the deadline?????
 

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How I wanna be a PP Pro
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Discussion Starter · #9 ·
2005...8 years???? Isn't that a little over the statutes????? Or is it coming in just under the deadline?????
Don't really know? We were not at this property.

The point of this post was to "show" everyone what these companies can and will do when its a hungry feeding opportunity off a contracting company that has quit the business.

It appears the homeowner was "out of town" for 4 days and came home to an "empty" home. I "blackened out" the other information that made me come to this conclusion.

I will say this: If this had happened to me I would have claimed 10X more stuff had disappeared :whistling2:

This is causing DEEP EMOTIONAL STRESS. Dr. Phil would tell me to get this new stuff to my lawyer today:yes:
 

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Some contractors have multiple LLCs to combat issues like this. Use a specific company for the Nationals and when you quit them, you close down the operation. Closing one down is much cheaper than a 5K claim and then you control all of the risk.
 

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Business Consultant
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OH NO NOT the emotional stress......QUICK GRAB the Zanyx!!!!!!!!!!!!!!!!
 

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Some contractors have multiple LLCs to combat issues like this. Use a specific company for the Nationals and when you quit them, you close down the operation. Closing one down is much cheaper than a 5K claim and then you control all of the risk.
It's not so simple. I'm sure wannabe will be along to explain why.
 

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re

It's not so simple. I'm sure wannabe will be along to explain why.

my understanding is that as long as you close down properly, publish etc. They cannot come after you unless they can prove you closed down to dodge paying a claim or judgement (as in you knew it was coming so you closed). But I may be wrong.
 

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It's true it isn't always that easy, but it is one way to think ahead of them. We learned from others being fleeced by crooks like that to expose as little of our assets as possible.
 

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Contractor
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The same company offered an inspector in Westchester County, New York $3 to perform monthly delinquency property inspections. He told'em to take a hike.
 

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okay i see some KARMA for me, the ex wife , the sole proprietor of the company basically closed me down after 8 years of profitable operation , told the judge I was a 1099 guy , and deserved nothing , so are those 3000 properties that " she " worked on , hers ?? oh shoot im getting out the popcorn , gonna sit back and watch this one unfold
 

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Glad I never had E&O.
 
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