In the state of Washington there is a measure coming before the people that would allow people to collect triple damages from any lawsuit won against insurance companies. Needless to say the insurance companies are up in arms about this. In fact, they have put $8,000,000 into a campaign to stop this. They claim it will cause your insurance premiums to rise (the question is what doesn’t make your premiums to rise?).

Proponents have only raised a little over $800,000. Seems like a David and Goliath Story.

Interestingly, the state Attorney General is against the measure while the state Insurance Commissioner is for it.

I have not heard anything about what the AG has to say about it, but the Insurance Commissioner said that if the companies play fair and do what is in the policies they write they won’t have much of a problem. When asked why the insurance companies would be against this he replied that they basically have it too good with the way things are.

On talk radio I listened to a man who was an insurance industry insider. His take on the whole industry could be summed up as this “pay as little as possible and take as long as possible to pay it.” What would this do for insurance companies? Maximize profits. It is as simple as that.

When you get an insurance policy you should have it reviewed by an attorney – it is a contract written by the insurance company’s lawyers! Anytime the policy is changed you should get it reviewed by an attorney. Anytime you have a question about something in the policy talk to the insurance company and then talk to an attorney. Anytime they refuse to pay or take too long to pay talk to an attorney.

What is the common thread in the sentences in the previous paragraph? If you are not sure it is always consult with an attorney ANYTIME you are being seperated from your money, not getting money due you or anytime someone fails to fulfill their side of an agreement. I guarantee the big companies do.

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