Insurance Industry woes

Following on from an entry last week, The insurance industry continues to report that employees are being laid off, and the reviewing services seem to be constantly downgrading the financial strength ratings of the various insurers.

In times like these, the atmosphere is ripe for consumers to make the wrong decision when their insurance policy is either being trmeinated by the insurance company, or they are up for renewal, and they must decide whether to renew their present coverage, or to seek a cheaper alternative.Recently an insurer called “Peoples Trust” has been aggressively advertising in Florida. Here is what the Florida Association of Insurance Agents has to say about Peoples Trust: "Peoples Trust Insurance Company, The Truth About Peoples Trust"

The old saw goes something like: “If it seems to good to be true, it probably is!”. Insurance is too important to buy based on slick advertising, and bold promises. In this computerized, information age it is easy for a consumer to research an insurance company’s track record, and financial solvency. Unfortunatley, when it comes to insurance a consumer finds out that they bought the wrong coverage, from the wrong insurance company when it is too late……when they actually need the coverage.

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