People's Trust Insurance Company CEO Mike Gold Reacts to State ...

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CEO Mike Gold stated 'It is absolutely disgusting what State Farm is doing, abandoning Florida homeowners after profiting for years on their policies.'Gold went on to say, 'If they don't want to partner with ...
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1 - 20 of 20 Comments Last updated Oct 16, 2013
dan

United States

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#1
Feb 2, 2009
 

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Makes me laugh that a man, albeit successful in previous careers can make statements as he does when he was nowhere to be found when an event like Andrew hit.(he was selling copiers amongst other things!) Or as far as that goes, the other storms that criss crossed the State in recent years. I suspect very much that his companies and ideas would be drastically different having experienced what State Farm did then and would he have stayed to live another day (many others did not!) as State Farm has. This late comer thinks he invented insurance and in particularly risk management all of a sudden? No one ever thought that AIG would be where they are at either-careful what you say since 1.2 million folks believed differently and many more still believe!
DISCUSTED

United States

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#2
Feb 4, 2009
 

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IT'S FUNNY HOW "PEOPLES INSURANCE" JUST CAME UP IN 2/2008 AND HAS NO MONEY TO BACK THEM AND WANTS TO DOWN STATE FARM. WELL, TELL ME WHERE IS ALL OF THE "PEOPLES" INSURANCE COMPANIES AT? OH, I THINK THERE IS ONLY 1 AND THAT'S THE 1 IN BOCA, NO MORE JUST THAT 1 BUILDING, THAT 1 LOCATION. GUESS THE TRUTH IS OUT PEOPLE'S INSURANCE IS ALL ABOUT THAT GOLDEN GREEN DOLLAR AND HAS A HIPOCRITICAL NAME CALLED ďPEOPLE'SĒ INSURANCE AND NOT EVEN FOR THE PEOPLE.
JTP

Hudson, FL

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#3
Feb 5, 2009
 

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I can't help but notice you're from Bloomington, IL, and you're on a forum about Florida homeowners insurance. Isn't Bloomington State Farm headquarters? You aren't, by chance, affiliated with State Farm, are you?
PDG

Boca Raton, FL

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#4
Feb 20, 2009
 

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People's Trust has money to back them. In fact they can only take on more clients if they have enough money. And how will People's Trust respond to disasters? You mean by abandoning, denying and not helping people affected by the numerous storms? You mean like many agents did and companies like AIG or Poe. And PTI doesn't use agents! Thank god!
For all intent purposes the insurance agent does not provide a value anywhere close to the expense they create. Agents are middlemen we really donít need anymore. Agentís tell you that you wont save much getting the proper level of coverage for contents or other structures. Agents were supposed to tell you about wind mitigation inspection discounts years ago.. many did not because it would drastically cut their commissions! They didnít worry about your budget just their income. PTI doesn't have agents...
KFP

Gainesville, FL

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#6
Feb 25, 2009
 
People's trust may not use agents, but they are filed to pay themselves 30% commission. They claim that they pass on saving to customers by not paying agent's commission, but it is unheard of to pay an agent more than 22% commission. PDG must not have met the right agents because I know many personally and they know that if they don't educate and shop for their customers they will leave and go to huckster companies like People's Trust. Mike Gold had no prior insurance experience before starting this company and guess what it was started with the bare minimum amount of surplus. They mislead people with their rate comparisons, because the default quote on their site excludes other structures and content coverage and has a 10% hurricane deductible. You're getting a lower rate befcasue you're buying a policy that doesn't cover ANYTHING a regular policy would - especially if an agent got the chance to explain that to you!
KFP

Gainesville, FL

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#7
Feb 25, 2009
 

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Additionally their head of claims apparently has no claims experience. He was in realty and then construction until 2006. Any reputable company would have management with the appropriate adjusting licenses from the state and years of claims adjusting experience. Their is no information regarding when he was licensed or if he even is. Their adjusters I'm sure are, but when you have someone running claims that doesn't have experience what does it say about how the licensed adjusters will treat claims and customers in need.
MRF

Loxahatchee, FL

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#9
Apr 14, 2009
 
I agree!!! People's Trust is not a good insurance company!! And their CEO is stating that 150 of his employees are "now" licensed. "now" well what about the past 2 years they've been doing business???
RJW

United States

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#10
Jun 26, 2009
 

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Insurance from my college days is about spreading risk which the state of FL is large enough to do for any insurance co. State Farm raked in BILLIONS from FL during the MANY years there were no hurricanes. What did they do with the money. FL needs to ban any insurance co. from doing ANY insurance business (auto, etc.) if the company withdraws from writing homeowners. State Farm, goodbye & good riddance.
Cant believe it

Saint Petersburg, FL

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#12
Apr 25, 2011
 

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I got a card in the mail "Save hundreds ,even thousands of dollars! Effective today!" SO I called the number and gave the infomation to the lady at the other end of the line. I was told that my zipcode was closed. What does "The zipcode is closed" mean?
Guess they just have too much money laying about so they send out advertisments for the fun of it.
However what I have read on the website I am glad they closed my zipcode. They sound like a fly by nite company.... She lost the election as well
Vickie

Naples, FL

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#13
Aug 5, 2011
 
Get a new air conditioning system or you will be canceled. That's what they sent to me in writing. I'm guessing they missed my old tv and older cars in the drive way. Looks like I'll be shopping for new insurance. At least I've found out how they treat their paying customers before I ever had to file a claim. Think that the gold card they sent me show's how much they value their loyal customers. Run, RUN FAST AND DON'T STOP AT THIS INSURANCE COMPANY.
MJB

Boca Raton, FL

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#14
Sep 3, 2011
 
Unfortunately, I got sucked in by an unlicensed agent. Now I am without a kitchen for 2 years! Oh, the water damage wasn-t from my dishwasher-it was from an outside water main-so People's told the State of Florida-5 months after installation of Hurricane impact windows and doors!! Now where did this water enter-do tell?? We are entering litigation-so hopefully People's Distrust can cough up some of that money they saved from not paying licensed agents to pay for the damage to my kitchen from my leaking dishwasher!!! God forbid a hurricane came! Oh, now they are dropping me as a client for filing a claim-they FINALLY DID SOMETHING RIGHT!!!!!
Joe

Live Oak, FL

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#15
Sep 21, 2011
 
Vickie wrote:
Get a new air conditioning system or you will be canceled. That's what they sent to me in writing. I'm guessing they missed my old tv and older cars in the drive way. Looks like I'll be shopping for new insurance. At least I've found out how they treat their paying customers before I ever had to file a claim. Think that the gold card they sent me show's how much they value their loyal customers. Run, RUN FAST AND DON'T STOP AT THIS INSURANCE COMPANY.
Ditto, run fast. I was cancelled after 3 years of being insured because they didn't like my air conditioning system. After I went to college for engineering, my first job was designing and installing residential and commercial a/c systems. I was cancelled after I paid for a 4 point inspection. Too the hundreds of folks I recommended this company too....I take it all back. I have nothing good to say. Ive never had a claim and I will never do business with anyone associated with this company.
LMAO

United States

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#16
Mar 5, 2012
 

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PTIC is a joke...stay away, far away! Thier practices are not BEST PRACTICES, and they are not honest, and are NOT FOR THE PEOPLE. Just do yourself a favor, and stay away from these creeps.
The Unknown

Fort Lauderdale, FL

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#17
Sep 5, 2012
 
Stay as far as you can from this company! I purchased a house and had an inspection and appraisal done. The bank had no issues but PEOPLES TRUSTINSPECTOR came and appeared to be nice at first but it didn't take long to see he was a "know it all idiot" He took it upon himself to make a complaint to the city about what he felt was not "up to code" The inspector came the next day and when we told him who lodged the complaint he could not believe it! He as well felt he must be a sick person to do that!! People's Trust????NO WAY!!! Who would trust a company like that!!! STAY FAR AWAY!!!!
Concerned citizen in FL

Pompano Beach, FL

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#18
Oct 29, 2012
 

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Who are you writing from another state? What a joke!
Concerned citizen in FL

Pompano Beach, FL

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#19
Oct 29, 2012
 

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What a joke - you live in another state?
CFA

Hollywood, FL

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#20
Dec 4, 2012
 
Lloyds of London started when a person with no prior insurance background held money from individuals shipping items over seas as a risk pot for loss. Current commissioner Jeff Atwater has visited Pti twice this year to congratulate Mike Gold on his achievements. I was one of the consultants that sat on the board when their writing capacity got suspended. THE ONLY REQUIREMENT WAS PURCHASING MORE REINSURANCE THROUGH THE STATE CATASTROPHY FUND. As for the claims process I hope every insurer adopts preferred contractor agreements. Then it will keep clients honest.
John

New York, NY

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#21
Aug 8, 2013
 

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This company sucks.... They did a mitigation report on my home signed all the documents and gave me a what I thought a solid premium, took my money. 3 months later raised my premium $2317.00.... Good thing is I work for the press and will make sure I get this information out to all of the honest hard working Americans that dont need to be scammed by this SCUMBAG... MR GOLD!!! and his fellow followers.
JaR23

Fort Myers, FL

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#22
Aug 17, 2013
 

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just got his 2 of his ads in the same mail
delivery wasteful Wikipedia article states suspended in 09 fined 155k used unlisenced personal failed to comply with regulations over extended policy count also says not available to my county so if hes advertising in a county he cannot sell in questionable marketing also i understand they send repair people instead of paying policyholder another red flag last but not least a best rating no best no sale
curtis

Pompano Beach, FL

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#23
Oct 16, 2013
 
They just might own 2 or more houses. How about answer the other complaints about your own people??? Seems that you only respond to the easy ones not the real ones that state you have issues and your way of dealing with them is to tie "People " up in court
Concerned citizen in FL wrote:
Who are you writing from another state? What a joke!

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