Jim Brown of WNRO in Baton Rouge, Louisiana, recently brought to light in an October 23, 2008, posting that the recent economic downturn felt by citizens nationwide and subsequent national buyout has very specific ramifications on the people of this state. This insurance squeeze will be sure to be felt by citizens of Louisiana as the cost of the buyout falls upon the American people to pay. The recent buyout of AIG cost the average American family of four $1200 and yet there seems to be no end in sight to the pinch insurance holders feel each time they make a claim on their policies.
What’s more, as Louisiana has no consumer protection agency to operate as a state oversight of insurance companies and their activities, the average policy holder has no governmental body to rely upon to watch over these companies. During Congressional hearings regarding the economic bailout, it was discovered that AIG executives had withheld and hid the financial risks being taken from federal auditors when the company began headed into a downtrurn. With executives going on $400,000+ retreats in the face of economic crisis, there appears to be no responsibility or restraint demonstrated by insurance companies like AIG.
Because of this sad state of affairs, it is even more important and relevant for insurance claimants to remain vigilant on their claims and policies. Whether dealing with a Home Owner’s, Mold Damage, Personal Injury or various other insurance claim you may be forced to deal with, it is crucial to have the representation necessary to protect your rights against insurance companies.
Call the Berniard Law Firm at (504) 521-6000 for a consultation on your insurance, medical, accident or personal injury claim or suit.