I cannot wait for full Federal regulation to hit this island, and the ensuing oversight that is going to follow for the current insurance industry.
No longer will you have the power to run rough shod over your captive audience with your shoddy, overcharged and paltry excuses for coverage…and no longer will you have the latitude to treat your paying clients like hostages when they do try to file a claim.
Upon arriving on Saipan (a few years back), I spent the better part of a confusing month trying to compare the island’s auto insurance industry and was finally referred to one of the Island’s biggest insurance names, because of their so-called reputability.
Imagine my surprise when I was quoted an annual premium of well over $1,200 for a year, which, I later found out was less than a comprehensive coverage (not because it was not desired) but as I was told by the agent… ‘it’s just not offered here on the island as part of any policy…(rental car reimbursement, being just one).’
Also of more concern was the fact that the actual insuring agent/company was not U.S. but rather Korean. I question this fact as well and was told that no U.S. insurance companies cover out in Saipan.
The price was staggering, but I was reassured by the agent that I was buying not only the best insurance available, but from the most reliable insurance agency on the island. And so I paid….yearly…for close to six years now.
And yes, the inevitable finally happened — my first major auto accident. Admittedly, I was traveling too fast for the rain slick road. I lost control of my auto and entered the ditch where I struck an electric pole. The damage to my car was significant.
After obtaining the police report, I immediately reported the accident to my local insurance agent who further referred me to the main island office for claim filing.
Once at the main office, I filled out the required claim forms and provided more documentation. This information was further forwarded to the “Guam” office as the local office could not make a claim determination and so it was sent off.
Imagine my surprise when after two weeks of no action, I called to inquire about my claim’s status and was told that the “Guam” office was going to issue a letter of “Denial.”
And even more shocking was the fact that my co-workers told me that this was “par for the course” with this company as they try to get out of paying even the smallest of claims.
My co-workers then proceeded to fill me in on some of the tactics that this “Reputable” insurance company will stoop to in order to stall out and otherwise slow roll the claim.
And sure enough the same things were beginning to happen with my claim. First, were the threats of denial due to speeding and the reckless driving charge.
Then the unreturned calls regarding my claim as if I was just going to go away. Next, if they stick to their predictable pattern, the background checks and intimidation will follow.
I find this whole situation absolutely appalling! As insurance customers, we pay our hard-earned dollars into a policy which is basically a promise by the company to pay out on a valid claim and then when we have a need, they are not only not there for us and further turn the whole process around and treat their customers like beggars.
I have never been treated too shabbily nor so despicably by an insurance agency, and I have had more than a few in my long life. And so, I want to thank this particular insurance company (and you know who you are) for nothing you are no better than a thief in the night and as for the folks that you employee — your henchmen you ought to be ashamed of your tactics that support this company’s ongoing abuses and worse yet…the abuses against the Saipan people.
DORA CAMPBELL
Koblerville, Saipan
