The Ten Worst Insurance Companies in America and the Wealth of the Insurance Industry
1. Allstate: The poster child for insurance industry greed; the number of complaints filed against Allstate are greater than those of almost all its major competitors combined.
2. Unum: One of the nation's leading disability insurers, with a long reputation for unfairly denying and delaying claims.
3. AIG: The world's biggest insurer, but with a long history of claims-handling abuses.
4. State Farm: The nation's biggest property casualty insurance company, with a reputation for its deny and delay tactics.
5. Conseco: Sells long term care policies with a reputation of delaying claims until the insured has died.
6. WellPoint: Reportedly routinely cancels the policies of pregnant women and chronically ill patients.
7. Farmers: Rewarded adjusters who met low claim payment goals.
8. United Health: Plagued by accusations of greed so rampant that it puts patients at risk.
9. Torchmark: Has been criticized for a variety of transgressions, including charging minority policyholders more than whites.
10. Liberty Mutual: Adopted a policy of deny, delay, and defend; cited by regulators for systematic bid rigging.
The insurance industry in the United States received over $1 trillion dollars annually in premiums.
The insurance industry in the United States has over $3.8 trillion dollars in assets, which is greater than the Gross Domestic Products of all countries in the world except the U.S. and Japan.
For a recent 10 year period, the property/casualty insurance industry has enjoyed average profits of over $30 billion per year.
To get more information after you or a family member has been hurt in an accident in Edwardsville, Illinois, fill out the form on this website and get your FREE "Illinois Guide Book to Auto Accidents and Injuries" and the "Illinois Guide Book to Semi Truck Accidents." Or better yet, for more direct answers call the Giacoletto Law Firm at 618-346-8841 or toll free at 888-346-8841 to speak today with an experienced Madison or St. Clair County accident attorney centrally located in Collinsville.
Source: American Association for Justice: 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, www.justice.org/docs/tenworstinsurancecompanies.pdf.
