To justify AIG’s bailout, ins
Following are key insurance articles and general insurance information of interest.
Louisiana Auto rates keep going up. Why?Â Â 4/15/10
What if A.I.G. fails in Louisiana?Â 5/11/10
Fewer Elected Commissioners-More Becoming AppointedÂ 3/8/10
Cost Panel says Abolish Citizens Insurance Co.Â Â 12/09/09
La. most expensive for auto inssurance in the U.S.Â Â 12/03/09
Louisiana Hurricane Season-Do You Feel Lucky?Â Â 6/29/09
Having served as Commissioner of Insurance for Louisiana for 12 years, it seems that someone stops me everyday to make an inquiry about their personal insurance or the general state of the insurance industry in Louisiana, throughout the nation, and internationally as well. It’s a little amusing that some eight or 10 people a week stop to tell me what a good job I am still doing as Insurance Commissioner. To be frank, I’m troubled over the status of the insurance industry in this country, as well as throughout the world. Few average citizens realize what effect international financial activities have on the cost of basic automobile or homeowner’s insurance policies, right here in Louisiana, or any other state. With hurricane problems, inflation, the continuing high cost of doing business, and the patchwork of regulatory procedures in the U.S., there does not seem to be any end in sight to rising insurance rates.
From time to time, I plan on posting in this section articles and comments of specific interest to the general public on the future of the insurance industry, and give my suggestions as to what we can do on a state by state level to reduce the overall costs of various types of insurance that each of our family needs.
One of the problems the average consumer faces is the difficulty in making a complaint against their insurance company if they have a particular problem, or a legitimate claim is denied. I want to call your attention to a new service by an organization called Insurancegripe.com. The good thing about this site is that it clearly and specifically walks consumers through the process of collecting the proper information and sending the appropriate letters to the state where the complainant lives. Some states do a good job in handling complaints but many states have a slow process and often concerns slip through the cracks. It should not be that difficult for any individual to make a complaint, and receive the cooperation of their respective Department of Insurance.
For complete information, you can go directly to this site at http://www.insurancegripe.com. The service is provided free of charge. So take advantage of this link if you have a specific complaint.
Find out if new articles and information is posted under this section. Keep an eye on the JimBrownla.com homepage blog. Notices will be posted on this blog to let you know that new articles of interest are available.
In the months to come you can read here about the problems with deregulation, concerns about how major reinsurers halfway around the world directly affect the cost of insurance in the U.S., and what we ought to be doing to lower insurance rates. Stay tuned.