A little help in Mississippi: "The insurance companies have billions in reserve. According to figures from the Insurance Information Institute, insurance companies are currently sitting on a surplus of over $400 billion with after tax profits of over $30 billion for the first half of 2005 - note the headline (here) 'HURRICANES KATRINA AND RITA WON'T DERAIL HUGE PROFITS FOR PROPERTY/CASUALTY INSURERS.' Another report, found on the Internet, reports that, in 2002, MetLife’s CEO made 722 times the salary of the average U.S. worker. According to the AFL-CIO web page, in 2004, the CEO of MetLife made more than $18 million in total compensation. When I asked myself how MetLife can afford to compensate its CEO to the tune of $18,000,000, I immediately realized they just had to cheat 200 special families out of $90,000 each. Apparently, this year we were one of those special families."
Another ex-Snoopy fan swindled by 'excluded event' clauses.
(Link: http://www.vstretch.net/a_little_help_in_mississippi.htm)
2 comments:
A great article Anita. Remember I signed on with MetLife in December when Farm Bureau folded. In January they sent me a letter noting that they had inspected my house and they wanted the facsia boards to be scraped and painted which may or may not help me keep coverage with them. I went a step further and had entire exterior repainted, wherein I sent them copies of estimates and proof that work as they requested was complete. I never received an acknowlegement from them. Speaks loud doesn't it?
I watched a really stupid movie yesterday, Legally Blonde 2. Okay, I actually enjoyed Legally Blonde, but this sequel was lacking. It did however make one important point; People can make a difference even in a political system that is driven by secret deals made behind closed doors.
Those deals, which must have been made regarding insurance claims for Katrina, are what allow politicians to continue in their jobs, while never satisfying the people they profess to serve.
While I have no resolution for such situations, I continue to post comments here so you know we are still listening. I continue to learn from your situation and make decisions with those lessons in mind.
I may be far from hurricane territory, but I carry some form of insurance on every building I own. The fine print has become an obsession, and with each eye opener comes another insurance company that is crossed off my list.
At this point, I am beginning to wonder about the benefits of insurance. An example of my situation would be when the pipes froze in my second home due to a faulty furnace. Although I was covered for the water damage, and for replacement/repair of the furnace, my actual pipes were not covered. So while my beloved hardwoods were fixed, and my silly carpet replaced, the greatest cost of repairs, replacing all the pipes was not. Why, because my coverage only extended as far as the water damage and the faulty furnace but not damage due to cold temperatures. Based on this, the frozen water damage was not covered (i.e. the pipes bursting) but the water flooding all over the place was. If the damage would have been caused by a faulty furnace and I could not prove that someone had been in the house within 48 hours of the furnacing pilot light going out, I would have received no coverage. In fact, if I go away for a weekend and something happens to my house, I'm technically not covered after the 48 hour period, unless I have made arrangements for someone to enter my home and check everything. How is this possible? It's easy, even after reading the fine print and asking for a different policy, I came to find that all insurance policies in our area have the same clause because we experience -40 degree weather on a constant basis, so freezing is a normal hazard. What this means is that I need backup on my home every time I decide to leave for more than 48 hours.
How many people are aware of this clause...not many I'm guessing, since no one in their right mind would consider going away for 3 days abandoning your home, but that is what it is termed...abandoned home. So, like I said, it's not the same situation, it may not even be helping your situation, but you are helping us.
Keep writing, keep reminding us of the injustices you are facing. In my mind, you have already you are not a Katrina victim any longer, you beat Katrina.
Hugs,
Swapna
PS sorry for the long comment but I can't help myself.
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