Lloyd of London, an insurance provider to the marine industry, was founded by Mr. Edward Lloyd in 1689 with a complement of private investors who pled with Edward to deny claims of an insured vessel and its cargo early on in the company’s existence, by saying to Edward, “We’ll be ruined financially.”

“We’ll suffer more loss of reputation by failure to pay this just claim,” Edward said. He saved the day by convincing his partners to pay up. This company of honorable men gave life to Lloyd of London for 335 years and counting.

On “Sixty Minutes” last evening the program content dealt with the ongoing dishonorable insurance industry. Their witnesses were Florida homeowners who had their claims downgraded; one had his downgraded from $485,000 to $15,000. The adjuster who handled this family’s claim was also a witness on the program. He said, “As an independent adjuster hired by the insurance company, I always give a copy of my appraisal to the homeowner and my phone number.” The homeowner said, “My roof is missing, the inside is totally ruined, I’m still paying my insurance to the company for $4,000 annually, still making my house payment.” Several Florida homeowners had the same experience of their claims downgraded similarly.

My personal experience involved an automobile accident claim — “Accept our offer or go to court” — and a request to remove my son’s home from my homeowner’s insurance policy.

The company failed to divulge that they could not remove him from my policy without cancelling the entire policy. Months went by unaware that I had been cancelled. “We mailed you a check when we canceled the policy for the unused premium.” No mention of the policy’s cancellation; I thought the check was for the unused portion of my son’s policy.

I attempted to purchase the new policy, finding out that my cost would be higher due to company policy on new, aged insured customers. 

The small claims court agreed with the insurance company. The small claims judge was recommended for the position by the sheriff at the time. I asked the sheriff why he would recommend such an individual for the judgeship. “How else was I gonna get rid of the deputy?”

We all grow tired of law firms’ TV ads that are all too ready to take on the rascal insurance industry.

Tom Rogers, Moultrie