When It’s Time To Pay- Worst Insurers Report
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The American Association for Justice, is an organization of personal injury attorneys long experienced in fighting insurance companies. This report just issued uncovers just how and from which companies the consumer is getting the short end of the stick.
The number one worst insurer for consumers is Allstate, says AAJ. The group issued its report after sorting through thousands of legal documents, financial filings, as well as complaints filed with state insurance departments.
They were looking for how often claims were paid and how often the company employed hardball tactics against policyholders such as a "take-it-or-leave-it" offer.
Allstate is known to force consumers to accept lowball claims or to deny claims altogether. One Allstate employee reported that supervisors told agents to lie and blame fires on arson, and in turn, they were rewarded. And a well-known consultant, McKinsey, advises insurance companies how NOT to pay soft tissue injuries, knowing they are difficult to substantiate.
AAJ also noted extravagant salaries for upper ranked executives while consumers faced rising premiums.
Some of the others at the top of the list include :
* Unum - which sells disability insurance.
* AIG - The world’s biggest insurer.
* State Farm - Lawyers are familiar with State Farm’s deny and delay tactics, especially during Hurricane Katrina.
* Conseco - Conseco sells long-term care policies, typically to the elderly.
Also in the Top Ten are - WellPoint, Farmers, United Health, Torchmark, and Liberty Mutual.
The bottom line to all of these companies is greed- taking care of the bottom line and not the customers who pay the premiums making them annual profits that exceed $30 billion and take in more than $1 trillion in premiums every year.
See the full report here.
Let's hope you are in better hands than this report indicates.