jerryc41 wrote:
I was talking to a lawyer years ago, and he said that most of the new laws deal with banking and insurance. Last night, I saw a few minutes of a video about the insurance industry. It has laws custom-made to make their lives more profitable. Good for the industry, but bad for consumers.
I've been fortunate with insurance. It paid for a damaged boat, damaged cars, and it replaced my entire roof. Basically, I have had no bad experiences with insurance companies - mostly MetLife, which recently transferred me to Farmers. Shortly after we moved into our house fifty-seven years ago, a tree fell on the garage and damaged the roof. The insurance company we had at tyhe tiime paid to have it "repaired," not replaced. It still isn't right.
If my life insurance doesn't come through, I'm going to come back and haunt them.
I was talking to a lawyer years ago, and he said t... (
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Consider this - Homeowners and Auto Insurance companies are VERY tightly regulated and controlled by the various states where they sell their coverage. (I know very well, I worked for various insurance companies for over 45 years and got to know many folks at the various state insurance departments.) Nothing panics an insurance company more than a notice that someone from the insurance department will be visiting next week. Sort of like an IG inspection in the Military - you know you're OK, but......
Other than the Bar association, lawyers have little or no regulatory oversite.