American Association for Justice has just published a new report condemning the practices of some of the nation’s largest insurance companies and others that have systematically denied claims, delayed payments, confused consumers with incomprehensible insurance-speak and refused or retroactively cancelled coverage for anyone who will cost them money.
The report tells real stories:
–People whose valid claims were denied so the insurance company could boost their bottom lines.
–Companies rewarded employees who denied the claim, replaced those who would not and, when all else failed, engaged in outright fraud to avoid paying the claim.
–Long-term care insurers delayed paying, hoping the ill or elderly claimant would die before the claim was paid.
–Read how insurance companies use a low credit score against the insured when it comes time to renew a policy.
–Insurance companies offer bonuses for employees who meet “cancellation goals” – cancelling coverage even in the midst of treatment for ill patients who have become too expensive to treat.
This report is a must-read for everyone.
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