Have you heard of the mother nature water cycle? There is rain and there is evaporation.
Same thing in insurance. If there is an accidents – there is insurance, following by who pays for a claim, following by who pays back to insurance company.
In the past, I personally didn’t see the trends in claims and damages paid. But today is the Day:
Seven automobile insurance firms have followed Allstate Insurance Co. in suing Toyota Motor Corp. to recover money they paid in claims for car crashes blamed on unintended acceleration of Toyota vehicles.
Toyota issued a statement on Tuesday saying that the latest lawsuits are without merit and that subrogation claims “are common between insurers and automakers.”
You see the picture? If the car maker failed to produce good reliable product, in the end, it will anyways paying for that. Too bad there are personal injuries or death attached.
Happy New Year! Drive safe!