Wednesday, December 3, 2008

Today's Wall Street Journal Article

Today's Wall Street Journal contains an article by M.P. McQueen that looks at the trust established to handle the Conseco policyholders. Kudos to MP for doing a thorough and balanced job.

To see the article, while available, here is the link:

There are two things I believe it is vital to keep in mind. It doesn't matter if you are a consumer ... or an insurance professional ... these are important points.

First: The past doesn't equal the future (I'll write another blog on that one day soon).

Second: States have guarentee funds that protect consumers ... similar to the FDIC protects bank depositors. No one writes about these (MP McQueen did ... and kudos to her).

Expect attornies such as Frank Darras to use the media to gain notoriety and clients. The law firm he worked for took out a 2-page ad spread in this past Sunday's LA Times Magazine. These don't come cheap ... and while they may believe they protect and serve consumers ... let's be honest ... they are not "legal aide".

The American Association for Long-Term Care Insurance always believes an educated consumer is the best customer. We welcome healthy and balanced discourse that protects consumers while educating them so they can make good sound decisions.

We'll definitely do our part.

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