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Tuesday, January 5, 2010

Insurance Lies from Mynewmarkets.com's Chris Boggs

You can go to the full article by Chris Boggs here:

Insurance Lies Clients Believe MyNewMarkets.com

More Insurance Lies Clients Believe MyNewMarkets.com

But to give you a brief overview, the main lies include:

"If I don't have anything, they (the plaintiff, lawyers and court) can't get anything; you can't get blood out of a turnip."

"There is no need to purchase liability limits higher than my net worth."

"That's why I buy insurance."

"Corporate status will protect me from liability; I'll just declare bankruptcy and shut down."

"Public adjusters are bad (or good)."

"Insurance is all the same."

"It's better to pay small liability claims out-of-pocket rather than report them to the insurance carrier."

"Statute does not require me to have workers' compensation, thus you (a higher tier contractor) can't require it either."

"I pay him with a 1099. He's an independent contractor, not an employee."

"If a workers' compensation injury is less than a certain amount, I do not have to report it to the insurance company."

"Flood insurance is only for those in 'flood zones.'"

For the full article and reasons why these are lies please click the links above or contact me, Andrew Cohn at www.alcrisk.com or email acohn@alcrisk.com or call, (786) 664-RISK (7475).

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