Thread by @el33th4xor

You are lucky enough to live through a natural disaster, unfortunately your property wasn’t as lucky. Your house was destroyed, cars totalled, and years of memories washed away. Good thing you have insurance that will replace them, right?

You file a claim, then an inspector comes and assesses the damage. The problem? You aren’t the only policy holder with this issue.

In 2012, when Hurricane Sandy hit the New York area, it caused extreme destruction causing roughly $50B in damage and almost half a million homes had some sort of damage.

The Vitale’s had paid over $100,000 in insurance premiums while living in their ocean front house. Yet, 16 months had passed and they still had no money from flood insurance and an offer from their insurance company of $4,700 to repair what was estimated at $300,000 in damages.

All the boxes were checked for the Vitale’s to receive the $250,000 that they had been paying $650/year for. Having multiple adjusters out to their home all giving different values of damage caused. Frustration was at an all time high.

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Victims were finally awarded an additional $240M money in 2017 after the government reopened cases because of fraud allegations. #ThisisWhyWeCrypto

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