Worst Insurance Companies Rated by American Association for Justice

No matter how much you pay in monthly or quarterly premiums to your car insurance company, the firm is never going to be eager to pay you for a claim – even when the facts of the case appear fairly straightforward.
Greenville car accident attorneys have taken on some of the biggest car insurance companies, where systematic claim denials have become richly rewarded.

Recently, the American Association for Justice released a report listing the 10 “worst” insurance companies. Citing nearly 200 references to back these claims, the organization culled through thousands of court documents, state insurance department complaints and investigations, news accounts, depositions and testimony from former insurance adjusters and agents and records from the FBI and SEC.

The insurers rated weren’t exclusively automobile insurance providers, though they certainly made the list.

The rankings were as follows:

  1. Allstate
  2. Unum
  3. AIG
  4. State Farm
  5. Conseco
  6. WellPoint
  7. Farmers
  8. UnitedHealth
  9. Torchmark
  10. Liberty Mutual

In giving Allstate the No. 1 slot, the AAJ noted that this firm stood shoulders above the rest in terms of efforts to place profits over policyholders. While publicly touting its message of people being “in good hands,” the reality, according to a former adjuster, was that the company “privately instructs agents to employ boxing gloves” against those for whom it promises to care.

And when it comes time to do battle, consider this: In the U.S., the insurance industry rakes in roughly $1 trillion worth of policyholder premiums each year. It has roughly $4 trillion in assets. That totals more than the gross domestic product of all but two countries worldwide – the U.S. and Japan.

Average annual yearly profits for the property and casualty insurance industry? $30 billion. The life and health insurance industries rake in an additional $30 billion.

The average CEO of these top firms earns $9.1 million a year.

A big part of the reason these companies can make such an obscene amount of money is because they have learned how to systematically pay out less. Even though people are paying for coverage when the unthinkable happens, insurance companies have become adept at denying people at their lowest moment. In fact, some firms even have corporate training manuals that explain how to deny legitimate claims, and workers are rewarded with an assortment of prizes, ranging from pizza parties to vacations, when they are successful in these endeavors.

Meanwhile, injured parties who have suffered horrendous, life-long injuries, who have incurred enormous medical bills and are unable to work to pay them off – these are the people the insurance firms are denying.

Thankfully, in many of these cases, the law is on their side. Insurance companies that refuse to pay out legitimate policies are in breach of contract, and they can be forced to pay. Judges will also frequently order insurance firms to cover the cost for attorney’s fees in cases where claimants were wrongfully denied.

But insurance firms are banking on the hope that you’ll give up. Don’t let them win.

Contact the Greenville car accident lawyers at the Lee Law Offices by calling 800-887-1965.

Additional Resources:
The Ten Worst Insurance Companies In America, How They Raise Premiums, Deny Claims, and Refuse Insurance to Those Who Need It Most, American Association for Justice

More Blog Entries:
Compulsory Medical Exam Following a Charlotte Car Accident, March 23, 2014, Greenville Car Accident Lawyer Blog

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