It's the content that matters...inside out



Policyholder Ready Toolbox
© 2013-2017 APB

The Cat In Your Hat

holding your own


Those who hold high places left you holding a near-empty toolbox ...
Good luck on a rainy day, you might just need it!


While emergency communications are essential in time of crisis, there is little if any focus on the insurance industry's role and lack of meaningful information available to policyholders as well as to adjusters. Basic information should reach the insuring public and adjusters alike. Most policyholders have not had access to fundamental insurance claim rights and information, not to mention insurance company timely obligations, responsibilities, and recovery rules that help to meet what consumers have come to expect. The same can be said of adjusters who lack information to guide them towards that end. It not only helps to have rights and rules, where are we without them? There are many changes in unfair claim settlement rules and standard policy wording:

Full article in the book, "Policy Ensurance"

National Association of Insurance Commissioners: It coordinates and standardizes the activities of the various states. Its chief purpose is "to protect interests of policyholders." It is also the N.A.I.C. 's function to ensure adequate regulation of the insurance industry. It was formed as part of the legislative changes brought about by the McCarran Act in 1945. The McCarran Act was brought about as a result of the 1942 case, United States v. South-Eastern Underwriters Association, in which the federal government contended that insurance companies were in violation of the Sherman Antitrust Act, and in 1944, the U.S. Supreme Court agreed.

The National Association of Insurance Commissioners proposed a series of rules that allowed insurance companies to remain exempt from the Sherman Antitrust Act on the condition that each state maintain regulatory standards, as it still exists today. Nevada Senator McCarran introduced this legislation which was also known as Public Law 15 and is part of Title 15, Commerce and Trade Code. This enacted law ensconced insurance companies and makes them exempt from the Sherman Antitrust Act , the Clayton Act and the Federal Trade Commission Act (federal anti-monopoly laws).

Because so many controls were swept aside in favor of state regulatory control it is paramount that each Insurance Commissioner is a true champion for policyholder interests and that laissez-faire policy is not the order of the day. Policyholders know very little about the commissioner selection process.

The National Association of Insurance Commissioners holds meetings at least twice each year, its offices are located at 2301 Mc Gee, Ste. 800, Kansas City, MO 64108, telephone (816) 842-3600.

© 1994-2013 APB

Help on the way: this content is local to your area in that it affects virtually everyone in your area, indirectly or directly: property insurance policyholders. When the next news stories run having to do with a local disaster such as a hurricane, earthquake, flood, tornado, fire, etc., perhaps think of those disaster survivors and to what extent you may have helped in their preparedness and recovery. Thank you for any help you give.

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What is your philosophy: drive or be driven? I happen to think we are wise to keep our drive alive.

© 1991-2016 APB