ITP Corrections
Jan. 25, 2007:
ITP made a mistake when it said the secretive deal announced between State Farm and the Scruggs firm involved 640 policyholders now in litigation. In fact, the deal, known as the Woullard Agreement, would involve State Farm holders who have not yet filed suit. ITP regrets the error and sometimes regrets having “transparency” as its middle name.
Jan. 19, 2007:
I took down the photo pasted below because, in fact, I really don’t know where it came from. Amazing photo nonetheless:
Jan. 16, 2007
New Jersey Law Professor, Ethics Meister and Friend of ITP writes to correct my sloppy handling of the concept of “contracts of adhesion.” To be clear, here is what she says:
“Contracts of adhesion are written to benefit the writer (insurer), definitely NOT the insured. That’s why they’re termed contracts of adhesion: here are our terms, because you’re stuck with ALL of the provisions we have written, all of which apply to you, little homeowner with no bargaining power. You don’t like the wind vs water clause? Take your business elsewhere to try to get a better deal. By the way, you won’t find a better deal because we all write the policies the same way.”
Thanks for the corrective.