WrLife still ok?

[jerrymahoney]

Never heard of him until your reference.

[JBChiangRai]

Further

 

On the subject of Trustpilot positive 5* reviews

 

Another is by Thibault Chambert could he be the same Thibault Chambert of Chiang Mai who lists WRLife as his employer on LinkedIN?

[bubblegum]

On 10/20/2024 at 6:45 PM, Henk Langeweg said:

There was a thread about this company for a few days because of policy changes but it's deleted now for some reason. Strange ...

Yes I started it. Deleted? I rally don't know what they( who we are not allowed to mention) see wrong with my posts all the time.

[jerrymahoney]

13 minutes ago, JBChiangRai said:

Further

 

On the subject of Trustpilot positive 5* reviews

 

Another is by Thibault Chambert could he be the same Thibault Chambert of Chiang Mai who lists WRLife as his employer on LinkedIN?

I would say yes. He got appendicitis. The company paid 'cause he had the company insurance.

 

They don't seem to be going to any lengths to hide anyting.

 

If someone wanted to a hard core investigative research on the 5* TrustPilot reviews, they would do a Google search on EVERYBODY.

Edited October 22 by jerrymahoney

[JBChiangRai]

14 minutes ago, jerrymahoney said:

I would say yes. He got appendicitis. The company paid 'cause he had the company insurance.

 

They don't seem to be going to any lengths to hide anyting.

 

If someone wanted to a hard core investigative research on the 5* TrustPilot reviews, they would do a Google search on EVERYBODY.

 

So you believe the review about appendicites written by one of the company's officers?

 

I am please to find you, I have a friend, a Nigerian prince with $100M you can help him with....

[jerrymahoney]

Look it's 2 weeks until either Mr. Trump or Ms. Harris is elected President. I prefer Ms. Harris but preparing myself for the eventuality it isn't but I'm trying to avoid that nonsense.

In the meantime, I'll just deal with your nonsense.

At least for me, the company has paid out claims that will take them 5 more years to break even. What others do is their business. Edited October 22 by jerrymahoney

[JBChiangRai]

13 minutes ago, jerrymahoney said:

Look it's 2 weeks until either Mr. Trump or Ms. Harris is elected President. I prefer Ms. Harris but preparing myself for the eventuality it isn't but I'm trying to avoid that nonsense.

In the meantime, I'll just deal with your nonsense.

At least for me, the company has paid out claims that will take them 5 more years to break even. What others do is their business.

 

Bernie Madoff also paid out to his clients, until he didn’t.

[NanLaew]

2 hours ago, JBChiangRai said:

It would be helpful to other members if someone started a thread on rejected claims.

 

Some have asked for a similar thread on roojai car insurance's rejected claims.

 

Still waiting.

[JBChiangRai]

1 minute ago, NanLaew said:

 

Some have asked for a similar thread on roojai car insurance's rejected claims.

 

Still waiting.

The difference with Roojai is that they have a well respected independent underwriter with lots of reserves.

[jerrymahoney]

5 minutes ago, JBChiangRai said:

 

Bernie Madoff also paid out to his clients, until he didn’t.

Thanks. But I have a life insurance plan with a health rider in my plan B. Meanwhile, as the self-insurance contingent likes to say:

 

I am way ahead.

[NanLaew]

1 hour ago, JBChiangRai said:

 

Very interesting, that's the same guy and at the same address as his WRLife agency, I wonder why he joined a new company, and I wonder why he expunged all history of WRLife on his LinkedIN and Facebook profiles....

 

What does he know....

 

Ask him?

 

Or carry on posting groundless conjecture.

[jerrymahoney]

1 minute ago, NanLaew said:

 

Ask him?

 

Or carry on posting groundless conjecture.

As with the reference to Madoff above, I think we are dealing with someone with a Harry Markopolos-complex as maybe HE can be the one to bring down WrLife:

 

Asked how long it took (Markopolos) to figure out something was wrong, Markopolos said, "It took me five minutes to know that it was a fraud. It took me another almost four hours of mathematical modeling to prove that it was a fraud. "

 

https://www.cbsnews.com/news/the-man-who-figured-out-madoffs-scheme-27-02-2009/

[scubascuba3]

2 hours ago, brewsterbudgen said:

Is there an insurance company that hasn't rejected any claims?!

 

Seeing as WRLife have become very popular in Thailand due to their competitive pricing, if claims were being unjustly rejected I suspect we'd hear about it, if not on this Forum, then on social media.

I have seen negative comments on Facebook

[jerrymahoney]

I don't use Facebook but as on AN/TV there have been multiple topics to wit 'If I don't tell the insurer about my pre-existing conditions, how can they find out?' so that claim denials as I have read many of them are no surprise.

[Etaoin Shrdlu]

Online reviews are really not very helpful. Positive reviews are often posted by those who have a financial interest in the company being reviewed. Those who have had a bad experience are more likely to post a review than those who have a good or neutral experience.  

 

Some negative policyholders' reviews genuinely stem from the insurance company acting in bad faith, others come about because the policyholder did not fulfill their obligations under the policy, especially with respect to disclosure.  Hard to figure out which is which based upon what is said in an online review.

 

What every policyholder should know is the legal name, address and contact details of the insurer actually underwriting their policy as well as the financial security of the insurer and the identity of the regulator overseeing them. With the exception of financial strength rating information, this should be contained in the policy itself. Note that the broker's information, while necessary, isn't sufficient.

 

A good way to determine an insurer's financial strength is by looking up ratings by Standard and Poor, AM Best or other rating agencies. While not all insurers submit to such analysis and formal rating, there should be little reluctance on an insurer's part to disclose their audited financial statements.  

 

I also believe that a professional insurance broker would be remiss at not having vetted in this manner an insurance company with which they place their clients' business. Reluctance to disclose financial information on the part of the insurer would be a red flag for me.

 

What do the policies issued by WRLife the insurance broker say about the insurer that is actually providing the coverage? Is it consistent with the graphic that was posted above or with the information provided on the Nevis regulator's website? I think it may be difficult to be consistent with both, since the two sources don't appear to show the same information.

[brewsterbudgen]

51 minutes ago, scubascuba3 said:

I have seen negative comments on Facebook

Me too.  But I've seen negative comments about all insurers.  WRLife don't seem to get many, and certainly fewer than Pacific Prime and the Thai insurers.

[jerrymahoney]

19 minutes ago, Etaoin Shrdlu said:

What every policyholder should know is the legal name, address and contact details of the insurer actually underwriting their policy as well as the financial security of the insurer and the identity of the regulator overseeing them.

REDUX:

 

Posted September 1, 2022

  On 9/1/2022 at 5:09 AM, Sheryl said:

And does it state anywhere who the insurance company/underwriter is? Prior poster seemed to say he had no idea who (which insurance company) his policy was with.

jerrymahoney As with every other time you have asked this question, NO.

Edited October 22 by jerrymahoney

[NanLaew]

15 minutes ago, Etaoin Shrdlu said:

Online reviews are really not very helpful. Positive reviews are often posted by those who have a financial interest in the company being reviewed. Those who have had a bad experience are more likely to post a review than those who have a good or neutral experience.  

 

Some negative policyholders' reviews genuinely stem from the insurance company acting in bad faith, others come about because the policyholder did not fulfill their obligations under the policy, especially with respect to disclosure.  Hard to figure out which is which based upon what is said in an online review.

 

What every policyholder should know is the legal name, address and contact details of the insurer actually underwriting their policy as well as the financial security of the insurer and the identity of the regulator overseeing them. With the exception of financial strength rating information, this should be contained in the policy itself. Note that the broker's information, while necessary, isn't sufficient.

 

A good way to determine an insurer's financial strength is by looking up ratings by Standard and Poor, AM Best or other rating agencies. While not all insurers submit to such analysis and formal rating, there should be little reluctance on an insurer's part to disclose their audited financial statements.  

 

I also believe that a professional insurance broker would be remiss at not having vetted in this manner an insurance company with which they place their clients' business. Reluctance to disclose financial information on the part of the insurer would be a red flag for me.

 

What do the policies issued by WRLife the insurance broker say about the insurer that is actually providing the coverage? Is it consistent with the graphic that was posted above or with the information provided on the Nevis regulator's website? I think it may be difficult to be consistent with both, since the two sources don't appear to show the same information.

 

All good points.

 

I have my PC renewal on the desktop and there's nothing that specifically shows a "legal name, address and contact details of the insurer actually underwriting their policy as well as the financial security of the insurer and the identity of the regulator overseeing them." It does have their address, contact info, website and tax ID on the footer of each page.

 

Maybe a happy and contented WrLife policy holder can post a redacted copy of their policy and insurance certificate, and we can check the 'small print' for ourselves?

[jerrymahoney]

This is the current policy document:

 

https://www.wrlife.net/documents/WRLIFE POLICY ENGLISH.pdf

[JBChiangRai]

5 minutes ago, jerrymahoney said:

This is the current policy document:

 

https://www.wrlife.net/documents/WRLIFE POLICY ENGLISH.pdf

 

And it's clear who the insurer is "Insurer: insurance company or captive or compartment of captive or protected cell of captive"

 

Actually, the insurer or underwriter if you prefer, is WrLife Participative Insurance Ltd, registered in the UK and regulated to provide insurance services by the island of Nevis.

 

 

 

 

[jerrymahoney]

Great. Never been to Nevis. Will be a nice place to visit when it's time to sue.

But I have spent time on Bermuda. Edited October 22 by jerrymahoney

[scubascuba3]

9 minutes ago, jerrymahoney said:

Great. Never been to Nevis. Will be a nice place to visit when it's time to sue.

But I have spent time on Bermuda.

Why would it be Nevis? maybe a good place for a work/hol combo

[JBChiangRai]

Further

 

On the subject of Trustpilot positive 5* reviews

 

Mark Levitan and his 5* review, could he be the same Mark Levitan who was referred to by Rainwater as the local WrLife rep?

 

He wrote... The local Thai rep a UK guy Mark Levitan has assured me WR Life is an underwriter real insurance company

 

It does seem odd that the 4 officers associated with WrLife got ill and posted their 5* review on trustpilot.

 

[Etaoin Shrdlu]

28 minutes ago, JBChiangRai said:

 

And it's clear who the insurer is "Insurer: insurance company or captive or compartment of captive or protected cell of captive"

 

Actually, the insurer or underwriter if you prefer, is WrLife Participative Insurance Ltd, registered in the UK and regulated to provide insurance services by the island of Nevis.

 

 

 

 

 

I can't find any information for WRLife Participative Insurance Ltd on the Companies House website.

 

 

 

 

[jerrymahoney]

You guys are a bunch of pikers compared to these folks:

 

Need 30 testimonials for Class Action

Some WRLife current or ex-clients us to defend them, check their options shifting to an alternative reliable insurer. Some WRLife victims are ready to testify and show evidence of their prejudice.

If we can gather 30 plaintiffs a class action can be started with insurance specialists lawyers

[JBChiangRai]

9 minutes ago, Etaoin Shrdlu said:

 

I can't find any information for WRLife Participative Insurance Ltd on the Companies House website.

 

 

 

 

 

That's the one that is regulated on Nevis.  There is probably name errors in many of the documents, gobbledygook seems to be a consistent theme.

Insurer: insurance company or captive or compartment of captive or protected cell of captive

 

2 minutes ago, jerrymahoney said:

You guys are a bunch of pikers compared to these folks:

 

Need 30 testimonials for Class Action

Some WRLife current or ex-clients us to defend them, check their options shifting to an alternative reliable insurer. Some WRLife victims are ready to testify and show evidence of their prejudice.

If we can gather 30 plaintiffs a class action can be started with insurance specialists lawyers

 

Who are you going to sue? and where?

 

The best class action lawsuit would be in France and against Patrick Lorentz personally.  You would have to prove he was a bad actor.

[jerrymahoney]

3 minutes ago, JBChiangRai said:

Who are you going to sue? and where?

Maybe they never thought of that.

[Etaoin Shrdlu]

1 minute ago, JBChiangRai said:

 

That's the one that is regulated on Nevis.  There is probably name errors in many of the documents, gobbledygook seems to be a consistent theme.

Insurer: insurance company or captive or compartment of captive or protected cell of captive

 

 

I can find this one, but the name is slightly different: https://find-and-update.company-information.service.gov.uk/company/14167438. The most recent filing indicates the company is dormant.

 

And there's this: https://www.thegazette.co.uk/company/14167438 which indicates it is registered as a broker or agent and not an insurance company.

 

 

[JBChiangRai]

12 minutes ago, JBChiangRai said:

 

That's the one that is regulated on Nevis.  There is probably name errors in many of the documents, gobbledygook seems to be a consistent theme.

Insurer: insurance company or captive or compartment of captive or protected cell of captive

 

 

Who are you going to sue? and where?

 

The best class action lawsuit would be in France and against Patrick Lorentz personally.  You would have to prove he was a bad actor.

 

6 minutes ago, Etaoin Shrdlu said:

 

I can find this one, but the name is slightly different: https://find-and-update.company-information.service.gov.uk/company/14167438. The most recent filing indicates the company is dormant.

 

And there's this: https://www.thegazette.co.uk/company/14167438 which indicates it is registered as a broker or agent and not an insurance company.

 

 

 

That last statement you posted if accurate is exactly the kind of thing that would give you the proof to go after the individual behind the company.

[Etaoin Shrdlu]

1 hour ago, NanLaew said:

 

I have my PC renewal on the desktop and there's nothing that specifically shows a "legal name, address and contact details of the insurer actually underwriting their policy as well as the financial security of the insurer and the identity of the regulator overseeing them." It does have their address, contact info, website and tax ID on the footer of each page.

 

 

 

I don't think the OIC would allow an insurer to use anything other than a legal address on their policy documents. I also believe that the other contact details would lead to PC. The term underwriter and insurer are often used interchangeably in the insurance industry, so rest assured that in this context PC is the underwriter/insurer.

 

Being domiciled in Thailand, PC comes under the regulatory framework of the OIC. There is no other insurance regulator in Thailand, so that shouldn't be a question.

 

I don't think PC Thailand has been rated by any of the major rating agencies, but this isn't unusual for the smaller local operations of multinational companies. Financial information is available here https://www.pacificcrosshealth.com/en/financials/ and possibly elsewhere (SET) since PC is a publicly-traded company.

 

There is no mystery.