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Re: ** Binding arbitration **

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Posted by Linda ( on September 20, 2002 at 11:08:05:

In Reply to: ** Binding arbitration ** posted by kelly from nevada on September 19, 2002 at 17:36:34:

Observer, I think you are taking a point of view I often see in the insurance industry: those who work in an industry for a long time tend to believe that consumers understand things that they do not and cannot understand because they have never seen it happen. They have never been involved in whatever process that has taken place to cause this situation. Consumers don't have a clue. They trust everyone until they get burned, then they trust no one. They have no means to evaluate or decide what is reasonable and what is not because they can only see things from the consumer's point of view.

I have a good friend who is a property insurance underwriter (actually decides which houses they will insure, & at what rate). Her daughter who was turning 21 had to get her own health ins. Daughter had asthma, and pretty much got turned down or had all respiratory ailments excluded from coverage, every time she applied. The companies who would cover her wanted to charge over $500 a month. She didn't make that kind of money.

Underwriter mom came to me (thinking I could help) - her reaction was "HOW can they DO this? She HAS to have HEALTH insurance!!!" - Suddenly she had a consumer's comprehension rather than an underwriter's. Her daughter was a bad risk, these compnies want to make a profit. That's reality.

And, consumer's just don't get it. Sometimes by choice - head in the sand - sometimes because it is totally foreign to them.

I think that, at least, there will be some other disclosures required with those agreements. Not that it will change the consumer's perception of things, LOL. That will probably always remain the same.


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