Quote:
Originally Posted by G1911
For the fourth time, I will repeat my request for an example of any insurance policy, demand or decision in all of human history anywhere in the world that a company run a fake fraudulent auction to value items.
This narrative so many of you are pushing makes absolutely no sense. What insurance company has ever done this? How are they paying out $2M but not securing the assets if recovered?
Please, correct me! All I’m seeing is claims that make no sense with no precedent. The story should make sense.
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To add to this, this assumes there is insurance coverage for loss under these circumstances, which based on what we know (admittedly could be quite limited) seems highly unlikely. Anyone who has insurance can file a claim for loss. You do not need the ins co to give you permission. Once it gets before an adjuster that is a different story.
Adam stated it appeared to him to violate several consumer protection laws in CA to have run the auction. Ryan made it seem like ML was advised by a lawyer or the ins co to let the auction run. And lastly, Jeffrey, who seems to have some inside knowledge of this, agreed that it was necessary to let the auction run.
Lesson here is that mistakes are very hard to remedy sometimes.