New York Attorney General Spitzer essentially focuses his case on kickbacks from the companies to the brokers that raise the cost of insurance and it begs the question of conflict of interest as to protecting the public. This has sparked a controversy concerning whether he is overreaching, never mind it is far from the import of another compelling conflict of interest case left untouched. It is something so egregious that it hardly seems possible, yet is widely accepted:
How is a public protected when routinely denied basic information and rights, and, when insurance commonly states it represents that public, when in fact it does not?...
If people just named a price on what they lost, then insurance premiums would be so astronomical in today's society, that nobody would be able to afford insurance...
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This is about changing a system that is much in need of reform and not really a threat to that system, no more than the likes of H & R Block or taxpayers themselves are a threat to the US tax system. In keeping with how insurance was set up in the first place, it merely gives back authority to the policyholder for presenting the claim and changes who handles preparation, subject to review, audit, negotiation and adjustment. The companies need no more than the authority they have had for centuries...
My insurer has asked me to give a recorded statement
An examination under oath is an entirely different procedure than a recorded statement, is formal in nature, and is supported by insurance policy language. A recorded statement is often conducted informally over the phone and is not a requirement supported by policy language. Also, some authorities advise policyholders that they must cooperate with their insurance company in the settlement of any claim and must submit to a requested recorded statement with no policy language to support that statement. That advisory is misleading and inappropriate to direct either to insurance companies or policyholders.
The settlement of a first party property claim is not arbitrary in nature and is a matter of negotiation on an even footing for policyholders and companies alike, subject to Appraisal and the courts if necessary.
About DisasterPrepared.net With such compelling information, the question is why haven't we been able to do more to prevent the crisis of an unprepared public? The answer is a mystery.
