Thursday, September 29, 2005
Insurance Scam in the Gulf - from ATLA eNews
Although the insurance industry is well positioned to keep its financial commitments, many insurance executives don't want to dip into their huge profits to honor their contracts.
Many Gulf Coast residents lost their homes or occurred thousands of dollars in clean up and repair costs from the hurricanes.
These victims with homeowners insurance have paid thousands of dollars in premiums and are due restitution from their insurance companies. However, some insurance representatives are tricking them into signing waivers that will make it easier for these insurance companies to deny the claims of their policy holders, according to a lawsuit filed by the Mississippi Attorney General Jim Hood.
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Although the insurance industry is well positioned to keep its financial commitments, many insurance executives don't want to dip into their huge profits to honor their contracts.
Many Gulf Coast residents lost their homes or occurred thousands of dollars in clean up and repair costs from the hurricanes.
These victims with homeowners insurance have paid thousands of dollars in premiums and are due restitution from their insurance companies. However, some insurance representatives are tricking them into signing waivers that will make it easier for these insurance companies to deny the claims of their policy holders, according to a lawsuit filed by the Mississippi Attorney General Jim Hood.
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