American insurance checkbook payouts

Discussion in 'Current Affairs, News and Analysis' started by bullet_catcher, Jul 29, 2010.

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  1. The Bloomberg site is complaining that bereaved relatives have been given checkbooks instead of lump sums by their insurers. It's called a retained asset account, and covers soldiers as well as civilians. Unfortunately the deposits are not guaranteed, so it looks as though some of the cheques have bounced. Don't want that in the UK.

    link here Fallen Soldiers' Families Denied Cash as Insurers Profit - Bloomberg
  2. Utter, utter cnuts.
  3. Given that Obama is trying to reform the financial system and is probably looking for a popular cause which'll allow him to conduct a spot of populist smiting of financial instiutions (prior to the mid-terms), might this not be the best time for the American public to learn of this?

    As this would probably be a popular cause (I presume that the usual, highly admirable, 'screw our troops and we'll screw you' attitude of the vast majority of the American electorate is as strong as ever) which doesn't require some oil company to come up with technology to rectify the problem and then hope for good weather, and which gives senators the chance to crucify senior executives (who haven't a chance of justifying this) in televised hearings they can't decline to attend, could this er... get interesting?