Ten Worst Insurance Companies in America

August 30, 2010

Choosing an insurance company should not solely be based on low or high premiums, but what an insurance company does when comes time to pay out on a claim. Because, insurance companies are not in the business to payout claims; but are in business to collect premiums and deny claims. But some insurance companies take that edict a bit more seriously than others.

The AAJ came to the following conclusions about the insurance industry as a whole:

  • Companies consistently put profits over policyholders. The report concludes that many insurance companies may “talk the talk”, but don’t “walk the walk.” They may advertise that your “in good hands”, are “like a good neighbor” or “provide the strength to be there”, but fall short when it comes to actually serving their customers.
  • Companies continually deny, delay and defend. Insurance companies make more money when they pay out fewer claims. Obvious? Yes. Ethical? No. The industry as a whole routinely denies, delays and defends claims – all in the name of the “bottom line.”
  • Profits and salaries are skyrocketing. The property/casualty and life insurance industries average $30B in profits every year. In fact, the U.S. insurance industry as a whole receives premiums of over $1 trillion with a “T” every year and has assets of $3.8 trillion.

The Chief Executive Officers CEOs of the ten insurers in the report averaged an annual salary of nearly $9 million in 2007.

Who made the list?

These ten companies were named the worst insurers in America for denying claims, raising premiums, refusing insurance to those who need it most and many other reasons:

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

To learn more about what each of the above insurers did to earn a place on the list, click on the names above.

via Ten Worst Insurance Companies in America.

If you or a loved one has been a victim of personal injury in Chicago or the surrounding area, contact or call us at 312-252-5252 for a free no obligation consultation to discuss your legal options.

Share This:
  • Digg
  • Facebook
  • Twitter
  • Technorati
  • LinkedIn

Comments

Comments

  1. Dave Duke says:

    What the **** [edit]! Are they crazy?

  2. jong Masako says:

    Thank you……

    I was really amazed by the wide range of articles your site offers and will certainly be coming back to visit in the near future….

  3. Rudy Muldrew says:

    I agree with your post absolutely and I am now interested in reading some more of your posts on your blog and see what you have to say. Do you mind if I tweet your blog post out to my followers on twitter? I think they would also enjoy the blog post. Thanks.

  4. Earl Jaquay says:

    This is a great article, keep up the good work. How about more articles about life and policy.

  5. Denae Koelsch says:

    what a great post!

  6. Jim Blauch says:

    This should be posted on top of each and every blogs and distributed far and wide. Everyone who is in the market to purchase insurance should be aware of this.

  7. John Smith says:

    Thanks for the post. Great information.

  8. Kirk Sanchez says:

    I am awed as to how bad these companies must be to be the worst in an industry where there is nothing but the worst.

  9. Bill Johansen says:

    This is amazing. And here I thought State Farm was a good insurance company. I am bookmarking this for future use. Thanks.

  10. Sue Ellison says:

    I’ve already bookmark this article and will definitely refer this article to all my close friends and colleagues. Thanks for posting!

  11. Roxanne says:

    I cannot thank you enough for the blog article.Thanks Again. Will read on…

chicago evanston top 100 personal injury attorneys
chicago evanston million dollar advocate personal injury attorneys
chicago evanston personal injury law guru attorneys

evanston chicago personal injury attorneys testimonials

“I just wanted to say hello and a BIG thanks to you for what you did for me. It was a year ago, that I got the settlement, and I’m still stunned at what transpired… and so quickly.”J.A.