10 WORST INSURANCE COMPANIES IN AMERICA
The American Association for Justice released a report earlier this year based upon their comprehensive investigation of thousands of court documents, SEC and FBI records, state insurance department investigations and complaints, news stories and the sworn testimony of former insurance agents and claims adjusters. The results come as no surprise to personal injury lawyers or their clients.
Allstate is the worst insurance company in America. The AAJ investigation quotes a former Allstate claims adjuster who admits they were instructed to lie to claimants. In public, Allstate claims to be the "good hands" people. Behind closed doors, Allstate expects its employees to use a "boxing glove" strategy.
| 1. Allstate | 6. Wellppoint |
| 2. Unum | 7. Farmers |
| 3. AIG | 8. United Healthcare |
| 4. State Farm | 9. Torchmark |
| 5. Conseco | 10. Liberty Mutual |
The insurance industry takes in more than $1 trillion dollars in premiums each year. They have more than $3.8 trillion in assets--more than the gross domestic product of every country in the world except for the United States and Japan. The CEOs of the top 10 property/casualty insurance companies earned an average of $8.9 million in salary, bonuses and other compensation.
The typical insurance claimant has little or no experience evaluating and settling a claim. That claimant is going to battle against an experienced, well-trained insurance adjuster with the power of a billion dollar company behind him. It is unrealistic to expect the insurance company is going to play fair. Whether the claimant decides to hire a lawyer or not, the best plan would be to consult with an attorney who is experienced in handling insurance claims and ask for a quick evaluation.
