Missouri Judge Dismisses $7 Million in Fines Against Allstate
Midwest News • July 25, 2008
A Jackson County judge agreed on Wednesday, July 23 to throw out a contempt order against Allstate Insurance after determining the company had finally complied with his directions to release ...
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Subject: RE: Justice delayed is j
Posted On: July 28, 2008, 4:28 pm CDT
Posted By: Good Hands
Comment:
Mark1, Insurance claims are not completely free-market. The claimant has a duty to mitigate damages that does not allow them to simply pick the highest price shop or vendor when the prevailing costs are, in general, lower. The insurance company is simply a surrogate for the person claimed against.
In the absence of your insurer paying your parking lot fender-bender on your behalf, don't you want some sort of reasonable cap on what you have to pay? As your surrogate, your company is entitled to the same protection under law. These reduced costs not only affect the company's bottom line, they affect the future rates charged for your insurance.
Subject: RE: Justice delayed is j
In the absence of your insurer paying your parking lot fender-bender on your behalf, don't you want some sort of reasonable cap on what you have to pay? As your surrogate, your company is entitled to the same protection under law. These reduced costs not only affect the company's bottom line, they affect the future rates charged for your insurance.