Leonard Insurance Services, acquired by AssuredPartners, Inc., has announced that their underwriter, Chubb, will no longer carry either General Liability or Errors and Omissions for anyone in the Mortgage Field Services Industry. Sources speaking on condition of anonymity cited enormous losses with respect to the Industry. While not surprising to anyone whom is familiar with how National Association of Mortgage Field Services (NAFS) members utilize spurious insurance claims to bolster their bottom line, the refusal of Chubb to continue underwriting the Industry at the same rate, in light of the enormity of their fund, is telling.
Time and again, Eric Miller, NAMFS Executive Director, has been called on the carpet for his refusal to address fraud. Miller’s most recent selection of Brett Rockwell, notorious for his statements comparing women’s vaginas to the livers of sharks, underscored the problems plaguing the all white NAMFS Board of Directors and their apparent inability to wrap their arms around both gender derisiveness and the non-inclusion of minorities.
As of the end of Q3 FY 2018, Chubb reported total assets of $167.7 billion. So, it is fair to say that they are familiar both with liability and risk. Chubb boasts of, “Industry-leading loss control services and more than 400 risk engineering professionals serving commercial clients in the U.S. and globally[.]” So, I would say that Chubb appears to know what they are doing and that their risk aversion to NAMFS members and the Mortgage Field Services Industry, as a whole, is soundly founded.
LWYRUP is a license tag which conveys the current state of the Industry in light of Foreclosurepedia’s historic Motion to Intervene into the Involuntary Bankruptcy of National Field Network (NFN). And the fact of the matter is that it is HISTORIC. This is what Shari Nott and Jack Jaffa’s attorneys had to say with respect to my Motion,
No New Jersey court (whether Bankruptcy, District, or Third Circuit) has stated whether Rule 2004 examination transcripts are publicly available to parties not interested in the action.
For the first time in 232 years; for the first time since New Jersey became a state, the Motion by Foreclosurepedia will be considered by a seated federal judge. Foreclosurepedia’s response to the Objection was couched in a way which only the Foreclosurepedia Nation has come to expect,
To the argument that the Debtor’s will suffer some type of horrendous calamity, as Baker suggests, should the depositions be made available for the American Public to scrutinize, is the epitome of grandstanding. In fact, Baker’s argument, in Paragraph 16, implies an innate and supernatural trait that apparently neither the Court, the Intervener, nor anyone other than a Higher Power possesses. Baker states that the release of the depositions, “[…] will (i) expose both individuals to personal injury/harm; (ii) expose the individuals to unlawful injury and their property; […]” If Counselor Baker has the precognition to know the future, then as an Officer of the Court I would pray that he come forth and tell us of the circumstances and people responsible for this future event. It is a Minority Report, to quote a Tom Cruise movie. Baker no more knows the future than would appear that the Debtors are capable of balancing a checkbook. It is a dangerous and slippery slope to allow the presentation of spurious superstitions as the foundation for the removal of constitutionally guaranteed civil rights.
Chubb has found the exposure to liability equally as unacceptable as Foreclosurepedia. And we predict that soon, if NAMFS members are continued to allow to file spurious claims, there will be no insurance available to the misclassified employees whom are not even capable of paying the useless insurance available to them now.
Editor’s Note: Foreclosurepedia was advised, after publication, that AssuredPartners Inc. (Leonard) has transferred to Lloyd’s of London as their new underwriter and are able to provide both GLI and E&O.