Here is a story that warms my heart. I am not a big fan of fines, but an $11,000,000 fine is a good thing. Farmers Insurance was fined for not following the California Fair Claims Practices Act. WHOOPIE! Seriously. This…
Posts Categorized In: Insurance Operations
Insurance, Elections and The Initiative Process
The initiative process is spiraling out of control in California. (For those of you who are not in California, we have a process where individuals, in theory, can have a measure placed on the ballot assuming they meet all sorts…
Tort Reform and the fake “Medical Malpractice Crisis”
The Atlanta Injury Law Blog has a great post about the fact that tort reform has not resulted in a decrease in medical malpractice insurance premiums for doctors. I know this will come as a surprise to some people, but…
Another Insurance Consultant Settles with AG Spitzer
Universal Life Resources has agreed to pay $2,000,000 to settle allegations by New York Attorney General Elliot Spitzer that the company was paid secret, undisclosed commissions to steer business to certain insurers. Universal Life admits no wrongdoing and the company…
How Insurance Companies Really Treat You – From A Defense Firm’s Newsletter
Wow! That is all I can say about this e-newsletter I received this weekend. Let me give you some background and then discuss why this matters. The firm who sends out this newsletter is an insurance defense firm. I know,…
Increased Insurance Rates and Increased Insurer Profits!
After the hurricanes, everyone expected insurance rates to go up. And they will go up, especially for people in the Gulf coast region. But how much they will go up depends on where you live. Reuters has a new report…
Malpractice Insurers Overestimated Losses
We constantly hear about a medical malpractice insurance crisis in this country. The insurance companies consistently complain about not making enough money. They have to raise doctors premiums because the system is out of control. Doctors get upset because their…
Insurers controlling health care?
After all of my time in insurance and personal injury work, I thought I had seen it all. Then, out of the UK comes this story. It appears that a UK insurer now runs its own medical clinic. They will…
Insurance Rates Going Up for Seniors
I keep on this issue because it is so clearly a bad idea by Mr. Garamendi. His rate proposal, which I have talked about several times before, now has a new foe: the senior citizens. The California Senior Advocates League…
Auto Insurance Rates
Despite my post earlier this week about ratings for auto insurance and the value of zip codes, Commissioner Garamendi has proposed changes to how insurance rates will be set. Apparently, Mr. Garamendi believes that zip codes should not carry any…