It has occurred to me for some time that insurance companies are refining their liability more and more with unreasonable policy parameters, so thier exposure to liability is far less. Whilst I understand there are commercial imperatives for this I also believe there are strong indications that it is not all about honest, above board commerce. For example, how many people do you know who have been 'caught' with a housing policy that does not cover this or that particular aspect because the policy parameters were not met? I knows of many. This lack of taking responsibility for the business they claim ot be in: Insurance is expanding into all areas of our lives and businesses and our community suffer. It is as if we accept that by default that Insurance companies are Big Brother and fast becoming The Law behind the law. This is not a mad conspiracy theory. Think about it. Why are we letting it happen??
2006-09-05 20:47:01 · 8 answers · asked by twerf 2 in Society & Culture ➔ Other - Society & Culture
This problem is in the U.S. also. Insurance companies are like all other companies. Please the stock holders and screw the customers. The worst thing about this attitude is that some governments require you to have insurance (automobile insurance for example), but there seems to be no laws requiring payment for loss. Insurance companies also are intruding on our personal lives. My health insurance provider gives me a $20.00 monthly discount if I participate in their annoyance program. I have to do something health related every quarter or I pay higher rates. So far all I have to do is donate blood regularly to keep them happy. What I hate about this program is that they call my wife and 11 year old son and question them about their health habits. I hope there is a special place for insurance executives in the after-life, hopefully with flames and pitchforks.
2006-09-05 21:07:51 · answer #1 · answered by Anonymous · 0⤊ 0⤋
I can't answer about Australian insurance companies, but I can tell you the perspective from the U.S.
The insurance companies are there to make money, and if they continue to pay out claims, they lose that pool of money, which is set aside for the interest which is where they really make the money.
If certain situations keep causing an insurance company to pay out claims they will look for ways to reduce the risk of loss.
I guess the moral of the story is to really read the fine print and if you need something covered that isn't, find out how you can get something covered.
Here in the U.S. one issue that has caused a lot of problems were the thousands of insurance claims after Hurricane Katrina (our big one last year). They covered wind damage, but if the person did not have flood insurance it would cover NOTHING that was damaged by water, even though the water was as a result of the hurricane. So a lot of people are unable to get their properties repaired or replaced while still paying mortgages on the properties.
2006-09-05 20:52:45 · answer #2 · answered by Searcher 7 · 0⤊ 0⤋
Hey Twerf
I am not from Australia, Britain really if i'm living in Ireland and can tell you that insurance companies are the same where we are. They dictate their terms to you and leave you with the choice of "Take it or do without insurance".
My partner has been driving for over 30 years, never been in an accident but his premiums are higher than mine. Insurance companies tell him it's because he was living in Britain for a while, was insured in Britain. Yet of all .. So was i but my insurance comes up to Euros 350 a year, his insurance comes up to Euros 417-99 and he's tried o find out why but only got one response, this being "You were in Britain for a few years and not insured with us" And when he told them it was the same thing for me, that we both produced a no claim bonus from from previous insurance company, their response was "That's the way it is".
His daughter spent a year in Australia, got a car and found her car insurance was a lot cheaper to what she paid in Ireland. But she also explained that insurance companies in Australia didn't seem very flexible, same as ours.
We've long come to think that, at our end of the globe, insurance companies are simply gangsters, and it now seems that it is the same for you as well. Maybe we could unite and demand how and why they can all treat us that way and get away with it!
2006-09-05 20:58:38 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Well first of all, they are in the insurance business to make money. You can rant all you want, but it won't change a thing. All you can do is check different insurance companies and pick the best one for you. Wouldn't you hate to have insurance that went bankrupt, as many do, because their claim history was more than the money they had? You don't have to buy insurance at all, but hopefully, you will be prepared for anything that happens to your house, car, valuables, etc.
2006-09-05 20:52:16 · answer #4 · answered by phoenixheat 6 · 0⤊ 0⤋
This is not just Oz my sweet, its the same all over the world! As a former UK employee of AMP, I have seen both sides, its just the same, problem is, that many don't listen or read the policy details when taking out cover and think it does cover for all eventualities, its just not true and many find out after they have tried to claim. No policy will cover for absolutley everything
2006-09-05 20:50:50 · answer #5 · answered by SunnyDays 5 · 1⤊ 0⤋
If YOU were providing a service for a huge poplation of individuals, would you allow them to dictate the terms??
My $0.02
Nicholas - Admin
http://www.iConfessional.com
2006-09-05 20:49:31 · answer #6 · answered by Anonymous · 1⤊ 0⤋
you could swap any time. they only professional-cost the quantity of time you have been coated and situation a reimbursement for something. determine you get your new coverage accepted in the previous you cancel your previous coverage.
2016-11-25 00:02:04 · answer #7 · answered by ? 4 · 0⤊ 0⤋
because you are all a bunch of ex-cons?
2006-09-05 20:49:16 · answer #8 · answered by AZLUV 2 · 0⤊ 0⤋