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Federal Oxley-Baker Bill Would Require Competitive Rating and Uniform Regulation by States
National News • August 24, 2004
Sweeping legislation being drafted by federal lawmakers would end state approval of insurance rates and require all states to adopt competitive rating for most types of insurance.
States would ...
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| Subject | Posted By | Posted On |
|---|---|---|
| Vote those in Favor Out of Office | This Smells of Pay-Off! | Aug 30, 2004, 4:09 pm |
| Oxley-Baker Bill & Comopetition | Donald Pachner | Aug 25, 2004, 10:37 am |
| Back to article | ||
Subject: Vote those in Favor Out of Office
What is needed is TRUE & PURE INSURANCE UNDERWRITERS back in charge of our Insurance Underwriting Industry. Risks need to be seen, assessed and then priced based on regulated Rates.
Look at the system in place today-People are fearful to file a claim, as they know the chances of being CANCELLED are 99% and a HO that should cost $350., will suddenly go to $700. or higher. The Bean Counters do not allow for losses, without individually picking out the individual who suffered the loss and dumping them. There is a time and place for cancellation, but not on one or two claims in 10 years. What did they buy the coverage for? Oh Yes,