INSECURITY OF THE INSURANCE MARKET
USA does not exist in an institution that guarantees payment of the policies by insurance
companies. This does not mean it disappears along with it a responsibility to its policyholders abandoned. Indeed thousands of people who at the time of the accident to the policy were in full force, are subsequently intimidated by others. Within the period specified. Or before prescribing the lawsuit, are faced with paying thousands of dollars without possibility of citing the guarantee of its former insurance company in court. You do not have a third party in security in spite that they paid the premium on time. In short, if an insurer bankruptcy, consumers or customers hardly escape having to respond to the incident with their own property.
The Superintendent of Insurance of the Nation, stated that each company treasure a part of the revenue to pay claims.
So forewarned: cheap policy may result in a contract today claim to be known by the newly insured for several years, when your insurance is not a burden, in liquidation or receivership.
The lack of freedom of choice for the insured, is demonstrated in savings plans to purchase vehicles through managers or banks. In them, the subscriber is a consumer's captive insurance companies chosen by companies. This was reversed with Resolution 9 / 2002 of the PRC, where the insured can seek out a formal budget similar to the one, forcing the company to match the amount to pay the insurance.
An abusive practice is called replacement value, which means to cover the insured value at the rate of square well, rather than to repay the nominal real value insured. Keep in mind that companies tend to apply to policyholders who endorse their policies in the amount of shrinking reimbursement, not to delay their settlement and not have them than to sue for recovery in practical action of blackmail.
In the insurance plans, typical prefabricated contracts include unfair terms, for example, are those that predispose extensions of competence or jurisdiction, and especially those limiting warranties in relation to civil liability, especially for costs. All this in flagrant violation of Articles 109, 110 and 111 of the Insurance Act.
The Superintendent of Insurance of the Nation is the body that should monitor the conditions of the policies. That are clear, readable and fair, this is a legal obligation. Otherwise not being met with the privileges which requires the Superintendent of legitimacy and equity control of the clauses biased by the very companies that are under his tutelage.
The most common conflicts with insurance policies
The provision of services, in general, competition and protection by the Consumer Protection Law N ° 24,240. One of them, obviously, refers to the activity of insurance.
There are several reasons for noncompliance related to insurance, mainly from automotive, and will essentially cover:
Ignorance of the wording of the policies by the consumer when acquiring a vehicle and the insurance is financed directly hires the agency or bank financing. Is hired by the purchaser account and order life insurance and liability insurance (in general) on the vehicle. But rarely gives the consumer the relevant policy or certificate. This implies that the insured does not know the amount of insurance, the terms of issue, the lack or absence of coverage.
Another recurring theme is about the differences between the amount insured, and what the company actually paid in case of disaster. Whenever the Insurance Act will enable companies to cover a claim to the value of the market at the time that happens, happens many times the face amount of insurance is considerably higher, and obviously the policy that is issued and the cost of the prize corresponding to that value which is paid by the insured. While the insured may request the "endorsement" of the policy in order to adjust the value of the prize to each adjustment for depreciation of the asset, this information rarely reaches the consumer.
Finally, there are failures in general, such as late payment of claims; configuration problems of the clause "total destruction" inability to pay for bankruptcy, and so on.
WARNINGS underwrite a insurance policy
Always check several companies before choosing one.
Insist that the insurance policy is in writing and to deliver a complete copy with all conditions.
Both the general terms and conditions as individuals must be legible and understandable.
The print and the exclusion of compensation in many cases are the most important points.
In case of accident, you must notify the insurer within three days, and all the risk circumstances change.
Keep all your insurance documents, contract clauses, receipts and even advertising can be very useful in a claim. Advertising linked to the Insurer.
Try to avoid having two of the same property insurance, as this is expressly forbidden by the Insurance Act.
Know well what bonuses you are having no claims during a given time and certifies to writing in your contract.
Read the list of exclusions of your insurance, to know exactly the scope of coverage, do not wait until the loss occurs.
Beware of clauses that automatically renewed a contract of fixed duration where the consumer does not indicate the contrary, when it has set a deadline too far for the consumer to remember. And authorizing the acting company can terminate or modify the contract unilaterally.