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Politics : View from the Center and Left

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To: neolib who wrote (229225)	8/12/2013 10:32:41 PM
From: Sam	Read Replies (2) of 542111

The only real incentive insurance companies have is to collect premiums and then to screw individuals and companies as much as they can get with if an expensive claim is filed. If you think that your high deductible policy will protect you if you get really sick--expensive sick, that is--good luck... You may be one of the lucky ones who gets paid, and you may be one of the several million who winds up in bankruptcy court. OK, the piece below isn't talking about health insurance, but it is typical of insurance companies when a big claim gets filed against it. This is a big company with what on the face of it looks like a pretty good claim for damages. But of course Zurich will delay and delay and make it as expensive as possible before paying off the claim. I don't have a subscription to Law360, so I don't know the whole story, but you can guess a fair part of it from the two paragraphs below. SanDisk Blasts Insurer's Bid For Info On $63M Power Outage By Bibeka Shrestha Law360, New York (August 12, 2013, 5:34 PM ET) -- SanDisk Corp. told a California federal court Wednesday that Zurich American Insurance Co.'s discovery demands were "grossly overbroad," while fighting back against the insurer's sanctions request in a coverage dispute over a brief power outage in Japan that caused $63 million in losses. The dispute stems from Zurich's request that SanDisk provide "each and every" coverage contained in the policy that SanDisk is seeking through the lawsuit and "each and every specific fact" that relates to its coverage claim. Zurich asked the judge to order SanDisk to... To view the full article, take a free trial now. law360.com

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