Insurance as well as the risk management industry is indispensable. You cannot do without an insurance coverage whether it is insuring your home, vehicle, health of yourself or your dear ones, your assets or your life. However, one of the major causes of concern is the rise in the premiums you pay to your insurance carrier. This holds true especially after recession set in.
As far as auto insurance is concerned, there were many consumers who set their vehicles on fire (an act referred to as barbecuing a beamer) so that they could avoid paying premiums or make claims for their auto insurance coverage.
Health care costs too have escalated over the years. Americans have been complaining that they have to pay high premium for a coverage that is inadequate. This is because rate at which health care costs have escalated doesn’t match the pace at which wages increase. As such consumers find it difficult to cope up with the rising costs.
to be continued....
