Think "you're in good hands" with Allstate? Thousands of legal documents and financial filings show otherwise.
An in-depth, all-encompassing investigation of insurance companies by the American Association for Justice (AAJ) shows a disturbing and consistent trend: some of the biggest names in the American insurance industry repeatedly cut corners, refuse to pay claims and choose a strategy of greed over consumer benefit.
"While Allstate publicly touts its 'good hands' approach, it has instead privately instructed its agents to employ a 'boxing gloves' strategy against its policyholders," said AAJ CEO Jon Haber. "Allstate ducks, bobs and weaves to avoid paying claims to increase its profits."
In its report, the AAJ reveals the 10 worst insurance companies.
With an investigation spanning thousands of court documents, including SEC and FBI; financial information and testimony uncovered from legal litigation and discovery; news and media reports; as well as consumer complaints filed with state insurance agencies, the rankings and statistics reveal the dirty side of the insurance industry, and the 10 worst offending companies in the country.
A summary of the AAJ's findings include:
AAJ has released an in-depth study that reveals more information on the companies listed above and tips on how consumers can hold the insurance industry accountable. You can view a full copy of this report (in PDF format) by clicking this link to the insurance report.