A study released early last month that got some play in the consumer press was bad news for the insurance industry.
The survey, compiled by the American Association for Justice (AAJ), centered on a Top 10 list of the “worst” property/casualty, health, homeowners, auto and life insurers. The results were supposedly based on “an analysis of court documents, SEC and FBI records, state insurance department investigations and complaints, news accounts from across the country, and the testimony and depositions of former insurance agents and adjusters,” according to the press release — although in reality most sources came second-hand from consumer news stories. (Judge for yourself; the full study is at http://www.justice.org/docs/TenWorstInsuranceCompanies.pdf)
Because this comes from the trial bar – the study's full, incendiary title is “The Ten Worst Insurance Companies in America: How They Raise Premiums, Deny Claims, and Refuse Insurance Coverage to Those Who Need It Most” — we need to take the results with a block of salt.
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