Golden Eagle Insurance Scam

[derf]

Just a warning about an insurance scam that you may encounter one of these days.

Here is how it goes... and I'll make it short.

Retail Broker gives you quote for GL insurance lets say around 1500 a year.

11 months later Golden Eagle gives you a renewal notice for the same price as last year requiring a $600 deposit. After deposit is cashed they send you an audit fourn that makes no sence So I called in to the Audit department to ask questions and took the aduit over the phone.

2 months later I get a bill for $7000 for last years adjusted policy and this years renuel! I'm like

So I call my broker and say fix this mistake there is no way this is correct, he said yeah this is messed up, I'll take care of it.

Weeks go by with no resolve and I start to get letters from Golden eagle reminding me to please pay up!

So now I call my broker and say cancel this policy and get me with a new carrier... he says don't worry about this is obviously wrong and we will fix it... I said NO cancel this NOW! and fix the problem.

I get more letters for Golden Eagle asking me to please pay the $7000.. again I'm like I call my broker pissed and say what the hell is going on! My broker said the cancled the policy whit their wholesale broker Network insurance and they are not returing the our calls.

Long story short! The auditing firm put me in the wrong sign class code and used my gross sales as my payroll!

After my broker dropped the ball a few times and Network dropping the ball and lost it ( or should I say hid it!) It was too late to request a new audit! So now Golden eagle is going to sue me for the money. Or I could pay them $1500 for them to review my policy..... I don't think so

My broker said in good faith he would pay $800 of it if I would pay $700... I said Hell no! so he said I'm sure they will take the $800 as good faith money... I said OK if you want to pony up....

I get a call the next day from Golden Eagle saying the revised my file and decided that the audit will stand and I had until sept 15th to pay or their Lawyer will be contacting me... So they took my brokers money too... Domb ass!

So I called my Lawyer and he said he just got out of litigation with Golden Eagle and this is their set up or scam. He also said I'm pretty much screwed because it would cost me more in legal fees than I owe Golden eagle and my best bet is to try to baggin with them and settle for like half of the owed amount...

I am sooooooo F'ing :bitchin: pissed That money could have bought me a new vinyl cutter or a sweet race bike or a vacation... or just paid my mortgage....

[Travis]

So are you stuck paying $1500 or $7000?

Either way sorry for your luck. I have always thought of insurance as a scam anyway. They are always more than happy to deal with you until you make a claim.

[Erik Sine]

Damn dude sorry to hear that

[derf]

I have talked them down to $3800

My lawyer said if I don't pay they will add 10% interest on top of penalty's and fees then try to put a lean on my assets such as my investment property, stocks or my house.

[Erik Sine]

can you sue your ins co? err broker?

[B.O.P.]

Sorry to hear about this. Yeah, insurance companies suck the big one. I've always felt that they are at the top of the list of all time "necessary evil's".

Your agent or broker (whatever you want to call him) was representing the insurance company. That makes him a party to all of this. I think you should get a second opinion from another attorney as to what you can and cannot do. Seems to me you could hold the broker liable and make him pay wahtever the insurance company wants. JMO

[derf]

I tried to go after My broker but my attorney said that proving malice intent or gross negligence is next to impossible. My brokers GL insurance company will fight tooth and nail and will side with the insurance company. and more than likely I will end up paying the attorneys fees and still be in the same boat.

I have talked to 3 other attorneys who said more or less the same thing.

I even got the involved.

Here is a list of people that are getting a letter from me

Golden Eagle Insurance

CC

Network insurance

The California Department of Insurance attached to a complaint form.

California Department of Corporations

1515 K Street, Suite 200

Sacramento, CA  95814-4052

Attorney General's Office

California Department of Justice

Attn: Public Inquiry Unit

P.O. Box 944255

Sacramento, CA 94244-2550

Ortiz, Deborah

1020 N Street

State Capitol Suite 576

Room 5114 Sacramento, CA 95814

Niello, Roger

811 Chippendale Drive

State Capitol Room 2016

Sacramento, CA 95841

Standing Committees

Banking, Finance and Insurance:

Senator Jackie Speier (Chair)

State Capitol, Room 2032

Sacramento, CA 95814

Senator Dave Cox (Vice-Chair)

State Capitol, Room 2068

Sacramento, CA 95814

Committee on Insurance:

Assembly member Joe Coto, Chair

State Capitol

P.O. Box 942849

Sacramento, CA 94249-0023

Assembly member John J. Benoit, Vice Chair

State Capitol

Room 4144

Sacramento, CA 94249-0064

Edited September 12, 2006 by DERF

[B.O.P.]

Hooking you up with an insurance company that scams people and he still tries to talk you into spending more money with them isn't gross negligence?

I don't know what the laws are where you are but it may be worth looking into filing a complaint with a Magistrate. Here in SC a Magistrate can here cases up to $7500. And they can base their decision on a preponderance of the evidence, not necessarily cold hard facts (although they do help). It would cost a small filing fee ($40 here) and the judge would decide the case, not a jury. At the very least the insurance company would have to pay their attorney to show up in court on their behalf. That would cost them some money right off the top whether they win or lose. What you would have in it is your time and the filing fee.

As for the rest, it looks like you have those bases well covered. If nothing else maybe they will be covered up with answering inquires from the various entities.

[derf]

I just got off the phone with a bad faith insurance attorney... he said I don't have a pot to piss in

He said I can take then to small claims court and sue them first but that would just cost me more money to HOPE to get some back.

I feel like getting the boys together

[B.O.P.]

IMO attorney's are right near the top of the list of all time "necessary evil's" - right next to insurance companies. It is my experience (and I have dealt with a bunch of them in my life) that there are very few attorney's who are truly honest. If you do not have deep pockets and/or there is not the possibility of a big settlement, they will discourage you from proceeding even if you could win, but would only be awarded actual damages and not attorney's fees - in which case they wouldn't get much.

If you want the chain to break you go after the weak link. You said the broker tried to get you to dump more money even after the scam was evident. Maybe he is getting a kick-back from the insurance company? Did he really throw in $800 of his own money? Ask him to show you proof. A "good faith gesture" like that is hard to believe.

It's your situation and you will ultimately do what you want, but I would be damned before I would roll over and play dead that easy because some insurance broker didn't know what he was doing! Or did he?

[Lane Booth]

If it looks like a fish, and it smells like a fish, and it tastes like a fish... I wouldn't give them a damn penny! Eff that! Chances are, if this is truly a scam, and it does sound like one - they live by taking the easy sucker. And I will guaran-fucking-tee you if they are on a scam you are not the only scam they have going!!!

Sure they can threaten this and that and cause you to worry that you're gonna lose your house, business, car and everything you work your ass off for - and probably 85% of the time they get their way. Maybe eve 99% of the time, who knows??? The thing is, right is right and wrong is wrong. Are you in the right? Well then... Fuck them! Stand up for what is right.

I'm not saying go to court, pay court costs and attorney fees, and take your chances with a judge. I'm saying don't give them one red cent of your money - period!!! Not one dime!!! If they are scam artists - they will simply go away. Quietly, to keep their little scam going on other people who will give up money - for as long as they can get away with it.

The day that they actually have to show up in court to defend their little scam in front of a judge,... that's the day they empty out the bank account and fly away to the Bahamas.

Right is right. Wrong is wrong. And scam artist don't like going to court. :mebeer:

If my insuranse company had hit me up for that much money, or even less, I would have told them to "fet gucked!"

[Erik Sine]

But then I come across this, Golden Eagle helped bust some fraud

http://www.insurancejournal.com/magazines/...00/09/04/fraud/

Also it's owned by Liberty Mutual. I can't seem to find anything where anyone is accusing them of fraud. Maybe your broker did something to fuck up.

[Lane Booth]

But then I come across this, Golden Eagle helped bust some fraud

http://www.insurancejournal.com/magazines/...00/09/04/fraud/

Also it's owned by Liberty Mutual. I can't seem to find anything where anyone is accusing them of fraud. Maybe your broker did something to fuck up.

I particulairly enjoyed the story further down.

couple ended up in a Puerto Rican detention center Aug. 9 following their capture at a hideaway on the Caribbean island of St. Lucia. The couple disappeared nearly seven months ago after allegedly defrauding 700 insurance customers of $10.3 million"

A couple months ago I met an insurance broker, Sarah, who had set up an office in a strip mall next door to one of my oldest and best customers. Her office was nothing but proffessional and clean. Allowe me to describe the scene...

The building is brand new construction. Her office has a comfortable waitng area in front of an elaborate reception desk. Behind the reception area are 6 desks, each with its own brand new computer staion. All of the furniture is new. Everything is new and expensive. Sarah went all out setting up her office.

I was a little early on the day I was to pick up final payment from my customer. Sarah showed up and offered to let me waite in her office. We talked for a good hour about her and her insurance company. Here is what I found out:

Sarah is the owner and sole employee.

Sarah is 22 years old.

After travelling abroad for two years and doing nothing with her life after high school, she settled on a job at an insurance company to make her mother happy.

Sarah worked at that job for 6 months. 6 MONTHS!

And then she quit... To open her own insurance company.

Did I forget to mention Sarah drives a brand new Escalade?

According to Sarah, "anyone can open an insurance company - you just need to know the laws."

[derf]

I plan on just righting a letter today to the above parties and I am having my broker do the same.

And I have decided to not pay them a f'ing dime! :butt:

I do not feel my broker was involved other than to get taken too nor do think this is some kind of conjured plan however I do feel that the auditing practices of this particular department of golden eagle are very un ethical and flat out bad business. I also fee the wholesale broker "Network" is negligent of breech of contract.

The problem is is that the three insurance companies share fault and negligence however no one company is at fault enough to do any thing about. All the mistakes and unethical practices combined into one make a huge problem for me.

Edited September 13, 2006 by DERF

[Lane Booth]

[GDodson]

"If my insuranse company had hit me up for that much money, or even less, I would have told them to "fet gucked!""

[derf]

OK I Just got a letter from Golden Eagle Insurance saying:

We are correct in our audit however to accommodate MR. Rogers by reducing his premium to $750.00 for the 2005-2006 preium.

Fuck Yeah! those sons of bitch bastards can kiss my ass! It only took me weighting 11 government agencies to get those jack asses off my ass!

I'm so happy and so pissed ant the same time! they wasted like 30 hours of my time... Fuck them!

ahhhhhhhhhhhhh!

any way I' glad it's going in my direction now! we will see what the DOI has to say now!

Edited October 13, 2006 by DERF

[Lane Booth]

[B.O.P.]

Congrats on getting things going your way.

BTW, are the names and addresses below (which you posted previously in this thread) accurate? I am having a problem with a financial institution in CA (my former credit card processor) and can't get a response from them or get them to release my money they are holding. I'm thinking that if I send them a certified letter with copies going to the names below that may get their attention. Please let me know.

Attorney General's Office

California Department of Justice

Attn: Public Inquiry Unit

P.O. Box 944255

Sacramento, CA 94244-2550

Standing Committees

Banking, Finance and Insurance:

Senator Jackie Speier (Chair)

State Capitol, Room 2032

Sacramento, CA 95814

Senator Dave Cox (Vice-Chair)

State Capitol, Room 2068

Sacramento, CA 95814

[Erik Sine]

I would think consumer affairs board too

[B.O.P.]

I would think consumer affairs board too

Good suggestion! Anyone have an address for them handy?

[Erik Sine]

Complaints

http://www.dca.ca.gov/complainthelp/citizen-complaint.html

[B.O.P.]

Got it, thank you!

[derf]

Some one jumped down their shit list because I just got a refund check for my 2006 preium..

WOW I did not expect that!

I hope it works out for you to B.O.P.

[B.O.P.]

Some one jumped down their shit list because I just got a refund check for my 2006 preium..

WOW I did not expect that!

I hope it works out for you to B.O.P.

Gotta luv it! Glad to hear it. And yeah, it DID work out for me too I sent a letter to the scum bags and copied everyone/organization listed in this thread. I guess that got their attention and realized I wasn't f***ing around with them any more.

My situation involved ECHO / Merchant America online credit card processing and their associate bank First Regional Bank. I closed my account with them in Feb. and they wouldn't send me the money that was left in my account. They always had some lame excuse why they had to wait longer before they could send it. Then it got to the point where they wouldn't even return my phone calls. But guess what? 3 days after receiving my letter I got a call from the associate bank telling me a check was in the mail. I got the check the other day. It was a few dollars short (about $6), but I can live with that. The sad part is the extremes you have to go to just to get someone to live up to their agreement with you.