A class-action case was recently settled. The premise of the case was that insurance companies used CCC, a total loss evaluation program, and that CCC undervalued cars. This is not news to those of us who have been doing this…
Posts Categorized In: Current Affairs
Sen. Lott alleges State Farm destroying reports
Sen. Trent Lott’s attorney is claiming that State Farm has destroyed or moved reports that showed that homeowners whose homes were damaged by Hurricane Katrina actually had covered losses. I wrote about this before at which time I commented that…
Insurers Set Record Profits
This may come as a surprise to some. After all, we had hurricanes (two), other disasters, storms like crazy, and your average, everyday claims. But, despite all this, the insurance companies had record profits for last year. How can that…
Who pays for the next earthquake?
When the next earthquake hits, who is going to pay for the damage? Here is a story suggesting it will be taxpayers and not the insurance companies. Why? Basically because 86 percent of Californians have no earthquake insurance. I am…
GEICO To Offer Refunds
GEICO has agreed to settle a lawsuit brought by the Foundation for Taxpayer and Consumer Rights. GEICO will provide refunds of approximately $63 to California customers who were denied a discount because they did not provide proof of insurance when…
A Tort Reformer Swings and Misses
There is a great opinion piece out of Austin, TX from the Austin Bar Association president, Randy Howry. A little background: the President of the Round Rock Express baseball team wrote to the Austin Statesman and complained about the number…
Mass. Dog Owners Fighting Back
According to the Boston Globe, Massachussets dog owners are mad at insurance companies. Why? Because the insurance companies are cancelling policies based on dog breed. Here is the argument. Insurance companies say that certain breeds are dangerous. Why are they…
Minimum Impact Does Not Mean Minimum Damage
I have written before about MIST cases. These are cases where the insurance company is skeptical, to put it nicely, that anyone is ever injured in these cases. The basic theory: there is not enough damage visible for someone to…
State Farm Sued from Katrina
State Farm is being sued – AGAIN. This time, again, according to the Washington Post, whose coverage of this has been excellent, it is related to Hurricane Katrina losses. In this case, there is an interesting twist. The couple who…
Hospital Price Lists Now Available
According to the LA Times, Health Grades Inc is now offering hospital price lists for a $7.95 per search fee. The service will provide you with the cost of select hospital expenses. They will not price compare for you. Why…