How I Lost 12.5 Pounds & Regained My Soul

Naked, as in truth, and uncensored, I share my daily quest to survive as a woman and artist, while dealing with the complications of a full life, meddling in politics, loving my children to excess, totally permanently married and on a never-ending diet. While my soul is in constant need of repair and redemption, I struggle to do the right thing. In the meantime, let's all double the love. (Love, not sex, you fool). All posts are copyrighted material.

Wednesday, May 23, 2007

Are some insurance companies scamming us?

Good afternoon, my tasty little doritos~

Today several very large insurance companies agreed to pay the claims that were originally filed after the World Trade Center's September 11th, 2001 decimation. Almost seven years later, my friends, and you can imagine the legal fees that were incurred by the owners of that property.

These companies were: Allianz Global Risks, Travelers Companies, Zurich American, Swiss Re, Employers Insurance, Industrial Risk Insurers and Royal Indemnity who will pay a combined total of $2 billion.

According to the New York Times, the other insurers had already paid about $2.55 billion. However, when there is a major insured loss and only half the money comes in, things don't get rebuilt unless someone comes out of pocket. Candidly? Why should the insured have to? If someone sells a policy of insurance, they should have 30 to 60 days to pay up.

There isn't any legitimate reason for them to delay beyond that, but somehow the legal wrangling over claims has become commonplace.

The governor of New York, Eliot Spitzer, at the urging of the business community became deeply involved in these World Trade Center negotiations. I would love to have been a fly on the wall to see how he contributed, but I do know this. The insurance companies are playing a very good hand most of the time, but when they fold, they still expect to win.

Insurance is nothing more than legalized gambling. Delays on that $2 billion put additional monies into the insurers pockets, but the claimants won't be reimbursed for their loss of use or any of the monies taken away from them.

Take life insurance for example. The insurer charges the insured a premium, assessing the risk. If the insured dies young, well they sort of win. But if they live until a ripe old age, the insurance company wins. We all know these rules of the game, but once the accident happens the claims adjusters seem to think it is there job not to pay the claim.

But what can we private citizens do? If we don't have medical insurance, we can't go to a hospital. If we don't have car insurance, we can't drive the car. If I don't have errors and omissions insurance, we can't get a professional license. Of course, New Englanders always expect the worst to happen, so I have plenty of insurance, but there is such a thing as being 'insurance poor'.

It just doesn't seem fair that the average person, when he or she has an insurance claim, needs to end up getting a lawyer or calling the governor to get his or her claim settled.

Just my take.

Clark County Diva



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