Farm Bureau Financial full of systematic fraud and cover-ups???

[JEFF420]

Looks like the farm bureau might have been committing fraud across the state... and fired the investigators tasked in keeping them clean...



https://www.desmoinesregister.com/s...-v11xx61b00xxxxd11xx65&gca-ft=54&gca-ds=sophi

 

[CycoCyclone]

oh dang, this could be yuge

 

[JEFF420]

https://www.iowafarmbureau.com/Article/Farm-Bureau-Financial-Services-CEO-to-retire

CEO leaving end of year......

 

[BCClone]

Looks like the farm bureau might have been committing fraud across the state... and fired the investigators tasked in keeping them clean...



https://www.desmoinesregister.com/s...-v11xx61b00xxxxd11xx65&gca-ft=54&gca-ds=sophi

Since I have Farm Bureau insurance, any way I can read that? It is behind the paywall

 

[JEFF420]

Since I have Farm Bureau insurance, any way I can read that? It is behind the paywall

check dm

 

[wxman1]

Waiting for the thread to disappear due to sponsorships...

 

[NorthCyd]

(Sung in the most over the top and cheesy way) We stand for people, progress, pride, and fraud! Iowa Farm Bureau scamming you!

 

[Cyched]

Waiting for the thread to disappear due to sponsorships...

A newspaper article makes it public knowledge, so I’d certainly hope not.

 

[ISUAgronomist]

Waiting for the thread to disappear due to sponsorships...

Are you saying this thread is about to Landus in hot water with an advertiser?

 

[BWRhasnoAC]

Shocker.

 

[BCClone]

Are you saying this thread is about to Landus in hot water with an advertiser?

I think you are safe now because the main link there doesn’t show up on the leadership page for them.

 

[Dirt Boy 2]

ANFB

 

[charlie_B]

Link without paywall:

https://archive.ph/3DYz1

 

[Drew0311]

Kind of Smells like AIG back in the day

 

[amishclone]

Insurance is a continuing scam perpetuated on the gullible and/or defenseless.

 

[BryceC]

Insurance is a continuing scam perpetuated on the gullible and/or defenseless.

Insurance saved my behind multiple times in my life. I’m incredibly grateful to have been part of that scam.

 

[isufbcurt]

Having done work in this realm, these are all pretty damning things.

My questions though, did these investigators go to Internal Audit? Did these investigators go to the Boards Audit Committee?

After they were shut down by Counsel, going to Internal Audit and/or the Audit Committee should have been there next move.

 

[1UNI2ISU]

Explains the 38% homeowner's rate increase they just applied for. Legal bills don't pay themselves....

 

[JEFF420]

How likely is this to make FB insurance rates go up?

I'm already not particularly happy with FB. About a 50% rate increase to my homeowners policy this last renewal after switching to them the year before. Also, Colin left being an agent so I don't currently have an agent and only got a form letter in the mail notifying me after I had tried to make contact when I got a new vehicle.

i mean, the allegations would mean more payouts from Farm B... a.k.a they gonna need rates up to pay out? thats my assumption.

 

[BCClone]

Explains the 38% homeowner's rate increase they just applied for. Legal bills don't pay themselves....

Again? They had a huge bump for this year and said they went big so they wouldn’t have to do it again.