I’ve been receiving mail and now emails asking me to sign this new contract with USAA. It outlines changes including not being able to sue the CEOs personally.
I’ve been a loyal USAA member for over 20 years, and this feels like a major change. They’re acting like this is normal, but in the military, everyone is accountable under UCMJ or similar rules. This makes me question their commitment to service and integrity.
Has anyone else received this? How do you feel about it?
Keir said:
This contract allows USAA to act as your insurance agent under reciprocal exchange insurance terms. It’s a standard part of how USAA operates.
I’ve never encountered this requirement before. Why should I waive my right to hold CEOs accountable? We’ve trusted them for decades as our insurance agents.
@Kai
The Subscriber Agreement is mandatory for legal reasons. It grants you ownership in USAA, entitling you to dividends and voting rights in company decisions.
Max said: @Kai
The Subscriber Agreement is mandatory for legal reasons. It grants you ownership in USAA, entitling you to dividends and voting rights in company decisions.
I’m an ex-employee, not an officer. I did 6 1/2 years and moved to CIC.
@Kai
If you want to maintain your policies, signing the agreement is necessary. USAA isn’t trying to deceive you, but if you’re uncomfortable, consider exploring other insurers.
Quinn said: @Kai
OP, as an attorney, this sounds concerning. Seek legal advice from a specialist in this field. USAA’s approach seems dubious.
It’s not what you think. USAA segregates members into different companies, like the original USAA for officers and senior non-commissioned officers, ensuring benefits like the Subscriber’s Savings Account (SSA).