Is US Insurance laws so complicated?

by yedhulaprakash » Thu Nov 15, 2007 09:01 am

From reading the forum topics and the treads, one could feel that US insurance laws are very complicated? Why are the procedures so cumbersome?

Total Comments: 6

Posted: Thu Nov 15, 2007 10:22 am Post Subject: critical cases..

Hi dear,

While going through the history of US insurance services, it becomes evident that the laws have been shaped upon the experiences borne by each of the critical cases. There had been an absolute necessity of a law to guide & govern each of such instances. Now, as we know, depending upon these rules the compliance guidelines do come into effect & consequently the processes that would follow it up!

Thanks,
Evan

Posted: Thu Nov 15, 2007 11:39 am Post Subject:

I agree US insurance laws are very complicated, and I've been in this business 21years!. And to further complicate things every state has it's own laws...Some things are constant state to state, but then there seem a million 'little' things that differ state to state.... :x

Posted: Thu Nov 15, 2007 05:35 pm Post Subject:

Thanks for the reply friends. I personally feel that more the laws are complicated, tougher would be the procedures. I further feel that US should have common laws for all the States.

Posted: Thu Nov 15, 2007 07:21 pm Post Subject: U S Insurance Laws

Having "common" insurance laws would be similar to having established and regulated fees for doctors and hospitals, it's just not going to happen.
Too many senators, legislatures and high level executives would be out of work.

It is basically the people who set the insurance laws. There are always those people who want to "put one over" on an insurance company because they have the money.

If we would buy insurance properly and use it as it was intended to be used, we might just see some changes, not only in the law, but in the premiums as well.

Posted: Fri Nov 16, 2007 02:42 am Post Subject:

because this is related to the money, and lots of money :D

Insurance relates interests from many parts, and the law should protect them, the interest conflick from every parts are also trying to protect them, that makes the law to adjustify every thing, and that's complecated I think.

Posted: Fri Nov 16, 2007 10:12 am Post Subject:

BRAVO Ins. Maze:

If we would buy insurance properly and use it as it was intended to be used, we might just see some changes, not only in the law, but in the premiums as well.

Greed is the source of most of the problem.

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