The moral to the story is to protect the consumers…
Without consumers, we would not have the Insurance Industry.
Consumers pay high premiums to insure their homes from disaster.
Policy has hurricane deductible but will not cover wind damage.
The policy is written to protect the Insurer, and not the Insured.
Expose the loopholes or change the exclusions.
Provide the consumer with the financial protection they deserve or leave.
FEMA can sell a natural disaster policy
and the people will be guaranteed payment.
Without exclusions and without trying to blame it on something else.
Self-Insured by City/State will make Waveland/Bay St. Louis richer than Paris.
Insurance cost 100% more than flood
yet they deny 100% OF wind damage caused by Katrina.
Another bad idea caused by pandering to the voters. The best way to understand what\’s in a policy is to READ IT!!
This will simply add another step to the policy issue process, whether manual, or requiring IT programming. Who will draft the checklist? If something is left off the checklist, although spelled out in plain English in the policy, what\’s the outcome? Will that create coverage or some sort of waiver/estoppel argument?
This all comes down to trying to protect consumers from their own negligence and inattention, will simply add to the cost of producing the policy, and likely spawn all kinds of litigation over the new meanings in the newly required disclosures.
The moral to the story is to protect the consumers…
Without consumers, we would not have the Insurance Industry.
Consumers pay high premiums to insure their homes from disaster.
Policy has hurricane deductible but will not cover wind damage.
The policy is written to protect the Insurer, and not the Insured.
Expose the loopholes or change the exclusions.
Provide the consumer with the financial protection they deserve or leave.
FEMA can sell a natural disaster policy
and the people will be guaranteed payment.
Without exclusions and without trying to blame it on something else.
Self-Insured by City/State will make Waveland/Bay St. Louis richer than Paris.
Insurance cost 100% more than flood
yet they deny 100% OF wind damage caused by Katrina.
Honesty is the Best Policy!
Another bad idea caused by pandering to the voters. The best way to understand what\’s in a policy is to READ IT!!
This will simply add another step to the policy issue process, whether manual, or requiring IT programming. Who will draft the checklist? If something is left off the checklist, although spelled out in plain English in the policy, what\’s the outcome? Will that create coverage or some sort of waiver/estoppel argument?
This all comes down to trying to protect consumers from their own negligence and inattention, will simply add to the cost of producing the policy, and likely spawn all kinds of litigation over the new meanings in the newly required disclosures.
such nonsense.
You two guys have to be insurance agents.
Guess what.
I am too.
Licensed,Contracted & Insured in LA
LA lic plate: 828-RATE