This really should not come as a surprise to anyone. Back on March 27, I wrote about Allstate pulling out of the earthquake market in Ohio. (You remember the quote from their spokeswoman, right? If not, here it is: “The…
Posts Categorized In: Insurance Operations
New Coverages from Lexington: Are they worth it?
My friends over at United Policyholders passed this article on to me. Lexington Insurance, a division of AIG, is going to be offering some additional coverages for its policyholders, including mechanical breakdown for heating and air conditioning systems and identity…
Insurance Commissioner Takes a Stand
I wish it was the California Insurance Commissioner, but alas, it is in Michigan. The Michigan Supreme Court recently ruled that an insurance company can shorten a statute of limitations to file a claim by writing a shorter time limit…
More on Excessive Profits
I wrote over the weekend about Allstate’s excessive profits in Texas and the refund ordered by the Texas Department of Insurance. Not to be outdone, California’s Department of Insurance has announced they are starting an investigation into insurance companies excessive…
Allstate Ordered to Pay Refund in Texas
Allstate has been ordered to refund $60 million (or about 37 dogs in Oregon, if you read my last post!) and reduce rates by .2 percent in Texas. The Texas Department of Insurance found that Allstate’s rates were excessive -…
Copy of your policy
When you buy insurance, your agent gives you a copy of your policy. And then the insurance company starts adding endorsements. Some endorsements help you, some take away coverage and some are completely meaningless. However, which are which? There is…
A Response to Garamendi’s Charges
Harvey Rosenfield, the Prop 103 author, recently responded to charges made by the Department of Insurance that the insurance companies are trying to blackmail the commissioner. You can read Harvey’s comments here. And, now, I promise to leave politics alone…
Insurance Company Blackmail? Part 2
In a doozy of a follow up, Insurance Commissioner Garamendi has sent a letter to the FBI, US Attorney and California Attorney General requesting an investigation of this attempted blackmail. Now, the cynical side of me has two reactions: First,…
Insurance Company Blackmail?
If this is true, WOW! The Department of Insurance issued a press release today that will blow you away. Basically, the insurance industry told Garamendi to either drop his proposed regulations or be bomarded with a negative ad campaign. Now,…
Title Insurance: Kickback Scam?
I don’t usually talk about title insurance, but when the chance comes up, why not? After all, a lot of my readers either own a home or will be buying a home at some point in time. So, title insurance…