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Defeat for Insurance Industry; Wash. Voters Approve Referendum 67
West News • November 7, 2007
Much to many insurance companies' dismay, Washington voters approved Referendum 67 yesterday, with 520,667 or 57 percent of voters in favor of the initiative to allow insureds to collect triple ...
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| Subject | Posted By | Posted On |
|---|---|---|
| RE: Bad News for Insurers/ R-67 | mark | Nov 14, 2007, 12:28 pm |
| Leave it the attorneys | Mike Bowman | Nov 12, 2007, 7:16 pm |
| To t: | caffiend | Nov 12, 2007, 3:05 pm |
| Bad News for Insurers/ R-67 | Curt in Spokane | Nov 9, 2007, 5:28 pm |
| As a former Washingtonian....... | another guy named Rick | Nov 8, 2007, 9:30 am |
| RE: Biased reporting - Hey Karen | Gill Fin | Nov 7, 2007, 10:56 pm |
| RE: RE: RE: RE: This is bad news for Farmers | t | Nov 7, 2007, 8:09 pm |
| Bad news for all insurance companies and consumers... | Mary B. | Nov 7, 2007, 5:19 pm |
| RE: RE: RE: This is bad news for Farmers | George | Nov 7, 2007, 4:58 pm |
| Consumer Protection | Larry | Nov 7, 2007, 4:13 pm |
| RE: RE: This is bad news for Farmers | Anon | Nov 7, 2007, 3:57 pm |
| Biased reporting | Karen Koehler | Nov 7, 2007, 3:34 pm |
| RE: This is bad news for Farmers | Sharon | Nov 7, 2007, 12:55 pm |
| This is bad news for Farmers insurance | Marty | Nov 7, 2007, 11:24 am |
| Back to article | ||
Subject: To t:
I'll be the first to admit that Insurance agencys do collect a commission. Heck, anyone in a sales related job will admit to that.
What you fail to understand is that the average layperson may not understand their policy, or if they direct-write their own policies (ie Geico), what they are purchasing. Insurance agents are there to help people understand what they are purchasing, translate the policy language to something they understand, and to help people get the coverages they need.
But while agents in Washington may start to make more in commission, that will be offset by the fact that they themselves will have to pay more for insurance. Also they will be having to answer questions from thier insureds as to why the insurance rates went up.
I suspect that you if you asked, you would find a fair number of agents in the 43% of the voters that said no to this Referendum.