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How can private insurance deal with what has happened in Oklahoma today?
Also, during Katrina, several of the large national insurance companies actually weaseled out of paying out claims for wind damage, saying they would only pay for flood damage. Insurance companies are corrupt weasels.
Did you know that the insurance industry is the only industry in the U.S. that is allowed to collude on prices, and legally engage in other fraudulent practices, and does not have the regulations and restraints on it that every single other industry has? Google the McCarran-Ferguson Act.
There are 50 separate state insurance fiefdoms ( commissions) and opportunities for governors to reward people with political appointments.
How can private insurance deal with what has happened in Oklahoma today?
Also, during Katrina, several of the large national insurance companies actually weaseled out of paying out claims for wind damage, saying they would only pay for flood damage. Insurance companies are corrupt weasels.
Did you know that the insurance industry is the only industry in the U.S. that is allowed to collude on prices, and legally engage in other fraudulent practices, and does not have the regulations and restraints on it that every single other industry has? Google the McCarran-Ferguson Act.
Would you like me to provide court cases that prove you wrong? I know for a fact you have been supplied the evidence. Insurance companies don't force hospitals to charge you $15 for an Advil.
While Illinois has its fair share, it's high unusual for a tornado to hit within the city limits. I think the last one happened almost 50 years ago. Regardless, most residential, public and office buildings in Chicago have basements which can be used as shelters.
Another stupid idea, why don't they just outlaw tornadoes ? It would be just as effective as any other legislation they have ever passed, and for once it would not pick the taxpayers pocket.
No shortage of stupid ideas but this one seems to have been manufactured by the OP or is based on hearsay. Thus far no one has come up with a link showing a bill/sponsors for the federal government to mandate shelters.
This " I read it on the internet" thing is the basis for many people's perceptions. We are not so far removed from the women at the village well on wash day.
There are more than 1000 tornadoes in the U.S. each year. This map show the average number of tornadoes in each state over a 20 year period.
A very interesting and informative post however, what it doesn't show is that not only are more tornadoes produced over the Great Plains but they are far more severe on average than anywhere else. The region holds the record for highest winds, longest path of and duration, widest width, highest forward speed and greatest pressure drop.
Would you like me to provide court cases that prove you wrong? I know for a fact you have been supplied the evidence. Insurance companies don't force hospitals to charge you $15 for an Advil.
The chances of all those who are affected by the recent tornadoes being treated fairly by their insurers is very low.
Insurance is not federally regulated. Instead it relies on state insurance associations.
Over the last 15 years the insurance industry has spent $152,138,803 on lobbying in Washington.
Here is a list of what some major insurers spent for lobbying in 2012:
Blue Cross/Blue Shield $13,499,532
America's Health Insurance Plans $9,340,000
Prudential Financial $8,190,000
American Council of Life Insurers $5,742,684
Metlife Inc. $5,470,000
To find out what your insurance company has spent on lobbying there is a complete list at the link below.
The chances of all those who are affected by the recent tornadoes being treated fairly by their insurers is very low.
Insurance is not federally regulated. Instead it relies on state insurance associations.
Fair is relative. Insurance is a contract and insurers must abide by the terms of the contract. When it comes to home insurance most policies cover the actual cash value of the home. Replacement cost and guaranteed replacement cost are better coverages, but unless you ask for it (and pay for it) your policy won't have it.
Quote:
Originally Posted by ellemint
Over the last 15 years the insurance industry has spent $152,138,803 on lobbying in Washington.
Here is a list of what some major insurers spent for lobbying in 2012:
Blue Cross/Blue Shield $13,499,532
America's Health Insurance Plans $9,340,000
Prudential Financial $8,190,000
American Council of Life Insurers $5,742,684
Metlife Inc. $5,470,000
To find out what your insurance company has spent on lobbying there is a complete list at the link below.
Actually, that wasn't over the past 15 years. That was just last year. Guess what though? The pharma industry spent more on lobbying than the entire insurance industry and the health industry spent almost 3X as much as the entire insurance industry.
Pharma: $234,104,389
Hospitals/nursing homes: $92,250,082 a) American Hospital Association: $19,230,200 Don't say I didn't tell you.
Health professionals: $78,921,157
Health services/HMO's: $70,699,253
Misc. Health: $9,933,776 Total for Health: $485,908,657
Fair is relative. Insurance is a contract and insurers must abide by the terms of the contract. When it comes to home insurance most policies cover the actual cash value of the home. Replacement cost and guaranteed replacement cost are better coverages, but unless you ask for it (and pay for it) your policy won't have it.
Actually, that wasn't over the past 15 years. That was just last year. Guess what though? The pharma industry spent more on lobbying than the entire insurance industry and the health industry spent almost 3X as much as the entire insurance industry.
Pharma: $234,104,389
Hospitals/nursing homes: $92,250,082 a) American Hospital Association: $19,230,200 Don't say I didn't tell you.
Health professionals: $78,921,157
Health services/HMO's: $70,699,253
Misc. Health: $9,933,776 Total for Health: $485,908,657
The ONLY industry exempt from government price fixing oversight is the insurance industry.
The antiquated McCarran-Ferguson Act, which gives states the authority to regulate the “business of insurance,” also exempts the business of insurance from the federal antitrust laws to limit competition.
"The insurance industry, as the result of an antiquated law, is currently one of the only consumer industries in the nation that is exempt from anti-trust laws," says Bobby Jindal. "This leaves every American at risk to collusion and price fixing by the insurance industry, a practice that is unfair at best, and despicable at worst. So many residents of Louisiana and the Gulf Coast can no longer find insurance coverage, much less affordable coverage, and something must be done to change that. It makes no sense that an industry that is so critical to so many has been given the legal ability to take advantage of its customers."
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Especially their "representatives" who are being bought by all the lobbyists. sigh.
