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Car Forum / Driving, Maintenance, Tuning / Driving / March 2005

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Tangent-But important

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It DRIVES me crazy 2 - 14 Mar 2005 17:51 GMT
Dear Drivers,

I was talking with an insurance broker and when I mentioned that I have
Life insurance with CNA, he replied that they may be out of business.
Here I was faithfully mailing my monthly payments and somebody was
telling me that it may be a black hole.

I went to the AM Best site to check it out and sure enuf...the outlook
for the company was negative. So, I am passing on this info: Go to
www.ambest.com and sign up (top right) at no cost. You can check out
the Insurance companies that you are making payments to...Hopefully,
they will all be A++

Peter
The Office Jet - 14 Mar 2005 19:51 GMT
That's scary that you could have been sending money to a company from
which you would be unable to recieve any real benefits.
Furious George - 14 Mar 2005 20:12 GMT
> That's scary that you could have been sending money to a company from
> which you would be unable to recieve any real benefits.

I would hope that they use reinsurance to insure the policy against
bankruptcy.  Does anyone know?
The Office Jet - 14 Mar 2005 21:49 GMT
I think they would have to use reinsurance.  it's just scary to realize
how little control you really have over something like that.  I imagine
it would be a hassle to get everything straightened out with the
reinsurance company.
Motorhead Lawyer - 14 Mar 2005 23:06 GMT
> > That's scary that you could have been sending money to a company from
> > which you would be unable to recieve any real benefits.
>
> I would hope that they use reinsurance to insure the policy against
> bankruptcy.  Does anyone know?

Yes, and yes.

Always ask the Bankruptcy Guy.
--
Ol' C.R.
 
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