The world needs you ....  Join Global Action Now.   INSURANCE INDUSTRY  GENERAL COMMENTS Traditionally insurance afforded an orderly means whereby appropriate compensation could be paid in the event of unforeseen loss or other such adverse circumstances.  The idea was that by many people paying small premiums and by taking into account the law of averages in matters of adversity adequate compensation could be provided to those few who had suffered loss. More recently greedy lawyers have seen a golden opportunity to earn fat commissions by encouraging and then pursuing ridiculously high compensation claims (particularly in the area of personal injury compensation) for their clients. Greedy Insurance companies have not opposed this trend because higher claims mean higher premiums and the bigger the premium the bigger their commission. Magistrates have allowed this process to continue and escalate because they don't care - they are not on low incomes or struggling to pay their premiums (Not many people sue magistrates and so their premiums are not though the roof - unlike doctors). The government has done nothing because they don't see votes in it. The public (as usual) have been bled dry and left to suffer in silence. What does GLOBAL ACTION (AUSTRALIA) plan to do about this.                             a. Ban all television, newspaper and radio advertising by personal accident law firms including                                 press and television media reporting calculated to spread the idea in the mind of the public                                 that a hefty insurance pay out is an easy way to riches.                             b. Cap insurance pay outs and set up a public watchdog with the power to investigate and if                                 necessary reverse excessive pay outs if complaints are received from the public or other                                 interested parties.                             c. Legislate to force insurance companies to cap compensation levels offered in policies,                                 declare profits and return to prudent policies of adequate compensation.                             d. Require insurance companies to submit proposed scales for premiums to the watchdog to                                 eliminate overcharging and excessive profit taking.                             e. Require premiums paid by the medical profession and various other hard hit professions                                 individuals and business sectors to be reviewed downwards immediately. While not wishing to fully regulate the insurance industry GLOBAL ACTION (AUSTRALIA) will insist that premiums drop substantially from their present levels. If the industry cannot be trusted keep its own house in order and keep policies within manageable bounds GLOBAL ACTION (AUSTRALIA) will intervene to regulate the industry. JOIN GLOBAL ACTION DONATE NOW TO GLOBAL ACTION GIVE US YOUR FEEDBACK Click here  issues@globalactint.com GO BACK TO POLICIES

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