Insurance

Price of oil seen as sign commodities bubble near;

November 11, 2007  ·  Consumer Watchdog

<h3>Run-up in price of oil is partly Fed's fault</h3><p class="source">The San Diego Union-Tribune</p> <p>As they did with the run-up in the stock market in the late 1990s and the housing market in the early 2000s, speculators are pumping money into the investment vehicle with the greatest growth potential. And for the time being, that appears to be oil. "Of course it's a bubble," said Judy Dugan, a specialist on oil issues at the Foundation for Taxpayer and Consumer Rights in Santa Monica. "Of course it's driven by speculators. It's insane for an economy our size to be held hostage by unregulated speculation."</p>

Group says Allstate overcharges California drivers;

November 5, 2007  ·  Consumer Watchdog

<h3>Nearly two million drivers affected</h3><p class="source">KGO-TV ABC-7 News - San Francisco, CA</p> <p>The Foundation for Taxpayer and Consumer Rights says Allstate's claims of potential financial hardship are not credible. "Last year in 2006 Allstate had net profits of $5 billion dollars. We should all have that kind of deep financial hardship," said attorney Daniel Zohar.</p>

Poizner urged to get rid of aide;

November 2, 2007  ·  Harvey Rosenfield

<h3>A key Department of Insurance attorney is accused of cozying up to the industry.</h3><p class="source">Los Angeles Times</p> <p>Consumer advocates called Thursday for state Insurance Commissioner Steve Poizner to fire one of his top aides "because he covertly assisted insurance companies in a lawsuit they brought against the commissioner." Harvey Rosenfield, a Santa Monica lawyer who wrote the landmark Proposition 103 insurance initiative, said that electronic mail messages obtained under the California Public Records Act show that Poizner's special legal counsel, Bill Gausewitz, colluded with the insurance industry in its effort to avoid paying $300,000 in legal fees.</p>

Consumer Group Demands That Insurance Commissioner Fire Attorney

November 2, 2007  ·  Consumer Watchdog

<p class="source">Associated Press</p> <p>The Foundation for Taxpayer and Consumer Rights said it obtained a series of e-mails showing that William Gausewitz secretly collaborated with insurers to file a declaration in court. It says the document supported the insurers' claim that court costs should be paid by the state, not them.</p>

California insurance chief again accused of favoring insurers;

November 2, 2007  ·  Harvey Rosenfield

<h3>CONSUMER GROUPS WANT POIZNER TO AX AIDE FOR HELPING IN SUIT</h3><p class="source">San Jose Mercury News (California)</p> <p>On Thursday, Harvey Rosenfield, a leading consumer rights advocate, called on Poizner to fire a top legal adviser whom Rosenfield said inappropriately aided auto insurers in a recent lawsuit. The aide, Bill Gausewitz, is a former longtime insurance industry lobbyist.</p>

Wildfires spotlight insurance issues;

November 1, 2007  ·  Consumer Watchdog

<h3>Some homeowners may find they don't have enough coverage</h3><p class="source">USA TODAY</p> <p>Most of the affected homeowners have yet to calculate the cost of rebuilding from the California wildfires. But regulators and consumer advocates worry that too many victims will lack adequate insurance to pay for the wreckage of the fire, which has destroyed about 2,200 homes. Whether homeowners have enough insurance is a "vital question" that will determine whether -- and how quickly -- they can rebuild, says Douglas Heller of the Foundation for Taxpayer & Consumer Rights.</p>

Insurers Seek to Tap Growing Ranks of Early Retirees Too Young for Medicare

October 31, 2007  ·  Consumer Watchdog

<p> This coverage push draws skepticism from consumer watchdogs who say insurers have a history of avoiding this age range (50 - 64) and the expensive claims for illnesses that often hit that group. "That is a market that needs to be served, partly because traditionally WellPoint won't serve them," said Jamie Court of the California-based Foundation for Taxpayer and Consumer Rights. </p>

Insurance claims adjusters determining payout for losses in Southern California

October 30, 2007  ·  Consumer Watchdog

<p class="source">CBS-TV Evening News (6:30 PM EST) </p> <p>BLACKSTONE: So even if the insurance companies had to pay one or even $2 billion for these fires, they'd still be making money.<br> Mr. DOUG HELLER (FTCR): Oh, yeah. There's plenty of money in the insurance companies' coffers here in California to cover these claims and still be walking away with several billion dollars in profits.</p>

California Wildfires; Insurance Controversy; Home Protection

October 27, 2007  ·  Consumer Watchdog

<p class="source">CNN-TV - Open House Program</p> <p>DOUGLAS HELLER, FOUNDATION FOR TAXPAYER & CONSUMER RIGHTS: The insurance industry is looking at American consumers sort of like they look at a casino. We just hit three blackjacks in a row, let's take our chips off the table and leave.</p>

Competing health insurance plans equally flawed

October 25, 2007  ·  Consumer Watchdog

<p> San Jose Mercury News (California) </p> <p> Why does Massachusetts matter? Because both the latest Schwarzenegger proposal, and the alternative favored by Assembly Speaker Fabian Núñez and some of his allies, repeat the mistakes of the Massachusetts law. Massachusetts officials admit 18 percent of the uninsured cannot afford insurance, notes a report by the Santa Monica-based Foundation for Taxpayer and Consumer Rights. As Ben Day, director of Mass-Care, a vocal critic of the law, points out, "many of those who supported it are now saying the law will never work." </p>

Insurance in a risky state: Coverage changed after Oakland blaze

October 25, 2007  ·  Consumer Watchdog

<p class="source">San Jose Mercury News (California)</p> <p>Consumer-rights advocate Carmen Balber warned that homeowners should be vigilant when it comes to properly insuring themselves against fire and other disasters. "The big concern is that consumers who've lost their homes this week don't get adequate payment to rebuild," she said. "That certainly became an issue after the '03 fires when a lot of homeowners thought they were insured for full replacement value of their home, only to find their policies had been whittled down over the years without them knowing it."</p>

IS YOUR HOME COVERED? – HOW TO KEEP CURRENT

October 25, 2007  ·  Consumer Watchdog

<p class="source">THE SAN FRANCISCO CHRONICLE (California)</p> <p>Poizner said he does not anticipate there will be requests for rate increases as a result of the fires and claims. Consumer watchdogs don't either, but only because they're high already. "Insurance companies have been jacking up rates for the last five years, not just in California but all over the country, in anticipation of this natural disaster," said Harvey Rosenfield, founder of Foundation for Taxpayer and Consumer Rights in Santa Monica. "It's the nature of their industry in collecting as much in premiums as they can and hold on to it to recoup the investment profit. The industry wants to pay out as little as possible and the policyholders want as much as possible. That's two competing tensions that always make for problems," said Rosenfield.</p>