The holidays can be stressful for those of us who have hard-to-shop-for relatives. Books, neckties, kitchen gadgets, socks, movie tickets, fruit baskets and gift cards — it has all been done before, sometimes many times before. We came across something the other day that could be perfect for a certain sub-category of the hard-to-shop-fors: pet insurance.
If you’ve been following this blog for a while, you’re probably aware that an insurance policy is a contract. All the basic issues of contract law apply — including the duties of good faith and fair dealing that are implied in all contracts.
Insurance is big business, and insurance companies have significant resources to fight back against claims of bad faith. These are claims that the insurance company put its own profit concerns above the interests of policyholders.
When we left off, we were talking about the different way defense costs are handled under commercial general liability insurance policies and directors and officers insurance policies. Remember, CGL covers personal injury and property damage; D&O covers financial harm resulting from officers’ and directors’ management mistakes.
Power and responsibility may come at a price: liability. Serving on the board of directors or as an officer of a for-profit or nonprofit organization may be lucrative or rewarding or both, but the positions also carry risk for the individual. Think about Enron: When the company imploded, officers and directors scrambled to prepare for lawsuits and criminal charges against them personally and as a group, even if they knew they had done nothing wrong.
There is a naysayer in every crowd. When you buy a fancy new car, your first indulgence in a long time, one of your friends or coworkers will point out that the car lost a third of its value the second you drove off the lot. When you buy your first house, that same person, who just happened to purchase a home last year, will not congratulate you. He will kill your excitement by tossing in a “Just wait ’til you have to replace the roof” comment.
Taking care of your health is a critical part of life. This is why the federal government has passed certain laws to protect the health and health care rights of American workers. Unfortunately, not all companies abide by these laws and regulations.
We are at the end of our discussion of an Insurance.com survey regarding some commonly-held beliefs about insurance. We showed in our last post that the respondents were fairly well-informed about the ACA.
We are close to finishing up our discussion of the survey conducted by Insurance.com . The researchers wanted to gauge how many Americans fell for some long-held beliefs about insurance coverage. Men, it turns out, were more susceptible to misinformation than women. Overall, though, the results showed that we are all becoming savvier consumers of insurance.
We may never know the answer to the question posed in the title of this series of posts. Fortunately, we do have research findings from Insure.com that offer us some insight into whether men or women tend to believe some common myths about insurance.
