AmTrust Financial Services Sucks Customer Reviews and Feedback
AmTrust Financial Services, Inc., is a New York City-based multinational property and casualty insurance company, offering workers’ compensation, general liability, business owners policies (BOP), cyber liability, EPLI and more. Operating through its subsidiaries, its operations are divided into three segments: Small Commercial Business insurance, Specialty Risk and Extended Warranty insurance,...
Onetime stock-market darling AmTrust Financial Services and its former finance chief agreed to pay $10 million to settle Securities and Exchange Commission charges alleging the insurer had misled investors in its reporting of hundreds of millions of dollars of loss reserves. Without admitting or denying the allegations of a complaint filed Wednesday in the U.S. District Court for the Southern District of New York, AmTrust and former CFO Ronald Pipoly agreed to injunctions against future violation of securities fraud statutes. The company will pay a $10.3 million penalty, while Pipoly will pay $237,500, according to an SEC press release.
An unhappy former employee voices out on the ills in the company, she writes " Management is a joke, the level of nepotism is ridiculous. If you go in and make the right fake friends you will do well. I enjoyed my coworkers so it made the days fun. Stand up for yourself early or they will walk over you. The benefits are really good and the amount of PTO is amazing. Learn all you can learn and find a better company to work for."
Another employee also joined in the anonymous interview and contributed to what has already been said, he added " It's all about who you know and not your skills and abilities. It seemed as though anonymous harassment wasn't and I became a fall guy later. I returned to work after being hospitalized to a write up while living in a shelter that HR was aware about, and yet a couple months later let go. They showed absolutely no compassion for my situation at all despite the amount of time I worked there, including my manager and HR."
Cindy says"I had my insurance for my consulting company. I did not renew due to downward trend of my business due to Covid19. I explained that I would not be renewing in April. November 2020 I received a notice that I owed the renewal. I again notified them that did not renew due to Covid19 and I had no business in 2020. Here it is June 3, 2021. I receive a letter from a collections agency for NON-PAYMENT and another letter owing for 2021. I have reached out to them. They kept me on hold forever. Finally had to hang up. I emailed them and what response did I get. "Please be advised that after a policy term ends it get audited and that is the amount due if you did not comply." Not an explaination of what I did that I do not comply. I have reccomdended this company so many times to other small business. I will make sure people know what they are getting into with this insurance. It is a nightmare! There are many choices out there. Trust me this is a contract that keeps giving."
Mr Ford says"During some horendous freak weather, my caravan awning blew down. The claims team refused to pay out for damages cause to the awning as they said I had to be in it at the time. Absolutely ludacris! Any reason not to pay out!"
Trusted Reviewer says"An absolute disgrace of a company. I dealt with their European subsidiary ‘Amtrust Europe’.
After a genuine claim for property damage was submitted this company did everything it possibly could to avoid paying. It took me over a year and a half along with the assistance of the Ombudsman to receive payment. Even then it was substantially less than they owed and it caused stress as well as significant time wastage.
Furthermore, the company is prejudiced, judgemental and I have to say I felt they judged me racially and culturally.
Michael Burns their public relations officer, Maria Davora (manager) and their claims team are particularly disingenuous individuals.
An unprofessional, uncaring organisation. You will regret putting your faith in this company so don’t. Pick a different insurance company, ANY insurance company is superior to the clowns running this particular circus."
Am says"I complained to AMtrust who own ARC Legal how ARC Legal were treating me, namely ARC had told me they could not pay my under my rent guarantee claim as I had myself served a section 21 notice over a year earlier to a tenant who was in arrears but later paid up so I didnt evict him - since when cant a landlord do that to get a tenant to pay up!!! hundreds of landlords have to do it everyday and are never told it invalidates their potential rent guarantee claim in future, so it seems very discriminatory if you know what I mean for them to say it to me but not other customers who I am aware ARC have not relied on this, doesn't it - so it's very obvious this time. AmTrust took ARC Legal's Side even though it is obvious ARC are in the wrong. ClearlyAMTRUST don't care about people and instead take the side of their closely related people no matter what. I have asked for diversity and religious data approx 10 times but not received it. The regulators also take their side I wonder why, I have asked the regulators for the same diversity and religious data and encountering the same problem. The whole system is corrupt and these companies are all run by the same interest group and taking the absolute mick. It's unbelievable what's truly going on and why and no one seems to care, until it affects them, half the time people don't realize they have been impacted. There is a lack of unaccountably and objectivity although they will obviously claim they aren't and act like they are the crusaders of fairness but it's an utter sham as its riddled with bias and looking after their own at all costs and their words mean nothing, it's actions and evidence that speak volumes. Unbelievable what I've witnessed, but I'm glad I did else would have been obvious to all that's wrong. We want a full historical record of all their recruitment and activities to assess what damage they have caused others and to repay any benefit as a result, i'm sure at some it will happen."
Bryan McGhee says"These scammers took my premium and deposit then cancelled my policy 4 days later without notifying me and still has not refunded my money. Do not do business with these scam artist. I’m reporting them for fraud to my bank to have the charges reversed."
In The News
Barron's reports"Insurer AmTrust, Ex-CFO Pay $10 Million to Settle SEC Fraud Charges"
JD Supra reports"Failure to State the “Obvious” Does Not Give Rise to a Securities Violation"
Business Wire reports"AmTrust Retail Risk Report 2019: Average Retail Injury Results in 24 Days Out of Work"
GlobeNewswire reports"AmTrust Restaurant Risk Report 2018: Average Injured Food Service Employee Takes 30 Days to Return to Work"