Go Back   Two Wheel Fix > General > Off Topic

Reply
 
Thread Tools Display Modes
Old 12-20-2008, 10:13 PM   #11
was92v
Nowhere Man
 
Join Date: Nov 2008
Posts: 558
Default

Another little Insurance tidbit that most people don't seem aware of is that Insurance companies are the only businesses in the U.S. that are exempt from anit-trust laws.
was92v is offline   Reply With Quote
Old 12-21-2008, 12:49 AM   #12
JoshuaTree
DILLIGAF?
 
JoshuaTree's Avatar
 
Join Date: Nov 2008
Location: Austin, Texas, USA, Earth, Sol, Western Spiral Arm, Milky Way
Moto: 1993 K75SA
Posts: 483
Default

Two points need to be made:

First regarding the insurance company's "tactics" - its what I would expect of an insurance carrier facing multi-million dollar losses on an induced/deliberate "bad act". If I were the Chief Council for the insurance company and my staff didn't try something like this, I'd fire the lot of them. That said, the tactic is likely to fail, as no "reasonable man" would consider smoke from a fire pollution in the understood meaning of the word. It would be like excluding wind damage from a tornado before and/or after the cyclone itself hit.

The second point is that the Texas Department of Insurance can (and likely would be pressured to) change regulations to specifically require policies to include such 'smoke pollution' coverage as a result of a fire.

The bottom line is that the longer the delay in payout for the insurance company, the less it costs them (i.e. using the time-value of money in their favor).

This is (or at least should be) a non-issue.
__________________
"Quis custodiet ipsos custodes?"
"Learn to do the counter-intuitive things that may one day save your ass..."
"... Love Much, Laugh Often..." - Amanda Kay Corso (January 18, 1980 - April 15, 2008)
JoshuaTree is offline   Reply With Quote
Reply

Bookmarks

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT -4. The time now is 06:48 AM.

Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2024, vBulletin Solutions Inc.