Replies to post #34672 on Hemi Energy Group Inc. (fka HMGP)

[1581]

You saw Kelsey's excellent response to your original post.
The fact that the claim is still outstanding and active says more than anything you or I can post.

And thanks for a post of more than just a few throwaway lines.
This is what discussion boards are for, back and forth and thoughtful opinions, and not just tossing out some statement that could confuse new investors or distract them.
Good luck to you.

[kelseyf]

Sorry Jagman, but again off base. Insurance companies have filings in every state that they do business in. These filings allow insurance companies to file coverage forms and to file rates. When an insurance company proceeds in this direction it is referred to as a company specific form or a proprietary form.

What you are presenting is the option that an insured has if flood is actually excluded on the standard policy or an insured needs a mono-line flood policy.

Fact is, and this is the type of risk that HMGP presents, contractors equipment is real property covered on by a direct physical damage property form. These forms will provided flood unless specifically excluded and then the other issue by definition is "Water Damage". And the final point is, if any risk had insurance coverage in place then due to the magnitude of these floods that risk including HMGP is eligible for assistance or indemnification by these assistance programs (state or federal).

Finally, if you are looking for a resource to help identify the type of coverage that HMGP may have regarding flood then as I recommended in my prior post, ISO (Insurance Service office)is a better source. If you really want to dig into the matter of HMGP specific source it really is quite easy.

Find out the actual insurance company that covers the business equipment of HMGP (if your a shareholder this is a reasonable request) and then pull the insurance filing of that company as it relates to the HMGP operational risk located in SEK. And Bingo your will have policy form language specific to HMGP and this insurance issue that IMO you are still not even close in a proper assessment.

Kels