The Rotary Club of Akron had the pleasure of listening to Mark Willis, an attorney actively engaged in the practice of law, with an emphasis in the area of tort and insurance law during our Tuesday, June 14th Club Meeting. Mr. Willis presented information to Club members on information we all need to know about Ohio insurance law and the interaction of liability coverage, uninsured/underinsured motorist coverage, medical payment coverage and health coverage.
View the presentation by clicking here or copy and paste the link into your browser https://youtu.be/KUP9tyRADkk
One of the first things Mr. Willis stated was "too often I have conversations with clients that find their lives upside down due to serious injuries, large medical bills and lost income from an accident to find out there is not enough insurance coverage or the wrong type of insurance coverage to cover their needs."The theme that Mr. Willis stressed throughout his presentation was “At the point your need the coverage it is too late to do anything about the various insurance coverages in place. Better to understand how to protect yourself before some event – than afterwards.”
Mr. Willis began his presentation asking Rotarians the names of various insurance companies they were either insured with or had heard of. While the Club members listed at least a dozen companies, Mr. Willis reported that over 150 companies are licensed to sell insurance in the State of Ohio. The 12-15 companies we mentioned probably cover nearly 85% of those insured in Ohio, but the other companies are reputable companies and can often offer more favorable rates because of less overhead with advertising, etc.
Mr. Willis also discussed what “I have full coverage” means. You need to ensure you know what your “full coverage” really covers. What are the exemptions, who is covered, who isn’t covered, etc.
He shared a handout with everyone titled “Questions for Your Insurance Agent/Company”. This is an excellent guide for things we all can ask our insurance agent to ensure we have the coverage we think we have, or we think we need. See the attachment for items covered.
Yours in Service,
Terry Dalton
Rotary Club of Akron Secretary and Scholarship Chair
