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Just to clarify, individual insurance companies do not have this sort of power. But collectively, as a lobbying group, they definitely do.
by sudden_dystopia 4y ago
Just to clarify, individual insurance companies do not have this sort of power. But collectively, as a lobbying group, they definitely do.
- howmayiannoyyou 4y agoIncorrect. Individual insurance companies make do underwriting screenings and audits of clients who present certain types of risks. They can deny coverage or deny claims based on the results. On this topic (and several others) I'm something of an expert.
- elliekelly 4y agoI feel like the extent of insurance company “audits” tends to be overstated. Most of the time they want executive attestations that X, Y, and Z are happening. Whether and to what extent X, Y, and Z actually are happening isn’t something the insurance company is likely to investigate unless and until a claim is submitted under the policy. The insurance company doesn’t necessarily care that X, Y, and Z happen they care about mitigating risk. Specifically, their risk of paying out on the policy.