Insurance Industry Employs Delay, Deny, Defend Strategy And Puts Profits Over Its Policyholders
Think "you're in good hands" with Allstate? Not so, according to an in-depth investigation of insurance companies by the American Association for Justice. The study revealed a disturbing and consistent trend employed by some of the biggest names in the insurance industry. These trends center around repeatedly cutting corners, refusing to pay claims and choosing a strategy of company profits and greed over protecting its policyholders.
While insurance companies like Allstate "publicly tout its 'good hands' approach, it has instead privately instructed its agents to employ a 'boxing gloves' strategy against its policyholders," said AAJ CEO Jon Haber. "Allstate ducks, bobs and weaves to avoid paying claims to increase its profits."
In its report, the AAJ reveals the 10 worst insurance companies.
With an investigation spanning thousands of court documents, including SEC and
FBI; financial information and testimony uncovered from legal litigation and discovery, news and media reports; as well as consumer complaints filed with state insurance agencies, the rankings and statistics reveal the dirty side of the insurance industry, and the 10 worst offending companies in the country.
10 Insurance Companies Marked by Greed, Fraud, Claim Denial and Deceptive Claims Handling Practices:
- State Farm
- Liberty Mutual