Friday, June 30, 2006

American Family loses Wisconsin Case

American Family is a huge Wisconsin car insurance company. I've documented its extreme profits, denial of claims, pro-tort reform position, and pay "when pigs fly" story.

I've also given some car insurance advice and discussed Wisconsin uninsured, underinsured and umbrella policies.

Fortunately, the Wisconsin Supreme Court has unanimously upheld the rights of those buying underinsured car insurance in Wisconsin in a case where American Family, acting consistent with what I feel is typical insurance practice, refused to pay a claim.

Welin v. American Family Ins Co held that Wisconsin insurers cannot define an "underinsured motor vehicle" without considering the amount an injured person actually receives from a third party insurer. For those outside personal injury law, even lawyers, this may be abstract, but it's a victory for car insurance consumers in Wisconsin and is another example, as with giving statements to insurance companies, of why it's wise to consult with personal injury attorneys before accepting an insurance company's position.

Wisconsin Personal Injury Attorney

Monday, June 26, 2006

Buffet Trying to Level the Playing Field

Warren Buffett is one of my favorite business-finance gurus but his latest action shows why he's a great human being. Buffett is giving away about 85% of his wealth to Bill Gates charitable foundation. That's $30.7 BILLION.

Buffett's comment to Fortune on his kids is most interesting:
"But I would argue that when your kids have all the advantages anyway, in terms of how they grow up and the opportunities they have for education, including what they learn at home -- I would say it's neither right nor rational to be flooding them with money. In effect, they've had a gigantic headstart in a society that aspires to be a meritocracy. Dynastic mega-wealth would further tilt the playing field that we ought to be trying instead to level."
Wisconsin Personal Injury Lawyer