Friday, July 30, 2010
The insurance industry has been plunged into crisis in the last two days on the strength of one newspaper article. Investigations have already begun into how the companies handle death benefits for the families of deceased soldiers. Did the insurance industry see this coming? Should they have seen it coming? The industry is absent from early reports, which indicates that they were not prepared and had no defense ready. Now, however, they have the attorney general of New York State and the Defense Department looking into their affairs. That is never good and should they be held at fault, it would be cost costly to the industry's reputation.