An Infinite Regression of Insurance Coverage
This just in from the Insurance Journal -- an infinite regression of insurance coverage. You can now purchase insurance to cover your insurance company's refusal to provide you with insurance coverage.
And if NAS refuses to provide coverage for your coverage dispute with your insurance carrier? Don't hold your breath; we've already entered the house of mirrors.
NAS Insurance Services Offers Claims Dispute Insurance
Encino, Calif.-based NAS Insurance Services has a new insurance coverage that will pay a business' legal expenses to contest denial of coverage by an insurance company.
NAS' Claims Dispute Insurance allows insureds to select attorneys from a panel of insurance specialists to determine if the insured has a reasonable probability of success. If so, the company will provide up to $250,000 for legal expenses to contest the claim denial. If it is determined that the insured does not have a reasonable probability of success, the insurance limit is still available to contest the denial, subject to a 50 percent co-payment.
Claims regarding worker's compensation, medical insurance and some others are not covered by the insurance.
