Having adequate policy safeguards you against any unexpected eventualities in the future. It gives you fiscal security system and peace of mind. When you buy an insurance policy and pay your premiums on clock time, your policy company owes you a duty of fairly deal and good faith. In the consequence that you suffer injuries, your insurance acts as a base hit net to protect you and your love ones .
But it ’ sulfur crucial to understand that the indemnity companies are in business for profit, and for some indemnity companies, this is the sole objective. It ’ randomness common for conflicts to arise between insurance companies and policy holders because the policy companies tend to put their interest ahead of the policy holder ’ mho .
Chicago car wreck lawyer explains that indemnity companies make less money when they pay out indemnity claims. So… many companies keep looking for ways to deny claims.
A recent report by the American Association of Justice has listed the top 10 worst insurers for consumers. While the report is not precisely holocene ( was published in 2008 ), but it surely gives us an idea of the companies that put profits and their interests before their customers .
According to the AAJ report, the circus tent ten worst indemnity companies in order are :
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- Allstate
- Unum
- AIG
- State Farm
- Conseco
- Well Point
- Farmers
- UnitedHealth
- Torchmark Liberty Mutual
- Liberty Manual
This report was based on data collated from a wide-eyed variety show of sources ranging from court records, FBI documents, SEC records, and for testimony from early and current employees of the policy companies. According to the AAJ report, these policy companies use tactics such as rewarding the claims representatives for delaying or denying claims of policy holders.
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The AAJ report besides noted that respective of these policy companies hire consulting firms to boost their profits. The consulting companies recommended the indemnity companies to find ways to reject claims because more the companies pay out in policy claims, the less profits margins the companies will enjoy .
Safeguarding yourself against the tactics of insurance companies
The reputation reveals some very nasty tactics employed by the insurance companies to increase their profits. however, it is authoritative for everyone to understand that not every denied policy call is a result of unfair dealing or bad religion. A badly religion title arises when the insurance company is unfair in dealings with the policy holder ’ mho claim. The unreasonable actions can include denying a policy holder ’ s call based on an inadequate investigation, delays in paying a claim, or offering a policy holder an inadequate or unreasonable payout .
If you think your policy caller is acting in regretful faith, or you think you are not being paid the come that you deserve, you should immediately get in touch with a competent and qualified Chicago car accident lawyer.