SAN MATEO, Calif.–(BUSINESS WIRE)–The fight to protect Seniors from insurance industry abuse took a new turn today, thanks to the formation of Allianzwatch.com.
“Senior abuse is on the rise in the insurance industry, and we’re organizing to not only educate seniors about how to avoid the abuse, but make sure that legislatures enact laws that protect them,” Michael Ross, Allianzwatch.com’s Executive Director said. “We want legislatures to expand current programs and create additional tools that senior consumers can use to protect themselves.”
According to their 7/16/18 filing, Allianzwatch.com is organizing as a nonprofit public benefit corporation under the Nonprofit Public Benefit Corporation Law for public and charitable purposes. The purpose of the corporation is to promote the social welfare as defined within the meaning of section 501 (c) (4) of the Internal Revenue Code, including but not limited to:
- Monitoring, reporting and educating consumers, the seniors, and senior citizens about insurance industry actions and how those actions impact them;
- Developing and advocating for legislation, regulations and government programs to improve community based insurance education programs and interaction;
- Conducting research about the industry, and then publicizing the positions of both members of the industry and elected officials concerning Insurance related issues.
“California’s leaders have to recognize that insurer fraud is very real in the insurance industry, and the largest victims of that fraud are seniors,” The Executive Director concluded.
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