The 10 worst insurance companies

[ABC]

Day on Torts: "The Ten Worst Insurance Companies in America"


I just was sent this report. The people that came up with this top 10 list are attorneys but still interesting.

Todays clients can find reports like this on the web so I think we as agents should know what floating around the web.

 

[patch36]

They left off the predators and scoundrels, and chose the deep pockets they love to pick. Pun intended.

 

[moonlightandmargaritas]

Attorneys advising on insurance companies? Now there's an objective assessment.

I wonder if the insurance companies have considered rating lawyers...

 

[xrac]

Here they are anyone out there work for Allstate. What do you think about it?

"The Ten Worst Insurance Companies in America"

AAJ has released a report titled "The Ten Worst Insurance Companies in America." Read it here.
The list:
1. Allstate
2. Unum
3. AIG
4. State Farm
5. Conseco
6. Wellpoint
7. Farmers
8. United Health
9. Torchmark
10. Liberty Mutual

 

[Mr. Bill]

At first I didn't understand what "type" of company they were referring to, so I looked, and it is pretty broad-based!

"To identify the worst insurance companies for consumers,
researchers at the American Association for Justice (AAJ)
undertook a comprehensive investigation of thousands 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. Our final
list includes companies across a range of different insurance
fields, including homeowners and auto insurers,
health insurers, life insurers, and disability insurers."​

 

[patch36]

So where is United American, Allianz, AFLAC, Bankers, Combined, ....

Sorry to those of you that sell these, but it is the start of my list. Yours may vary.

 

[Dave020]

In my opinion, most 3rd graders do better research (and are thus more credible) than most attorneys and legal firms. Example:

#6 Wellpoint - while taking great pains to discuss the DMHC ruling to fine CA Anthem/Wellpoint/Blue Cross, the paper specifically discusses DOI fine of Blue Shield while failing to mention fine levied against another CA carrier, Health Net. Why? Because in their awesome research, they failed to determine that Blue Shield of California is NOT RELATED to Blue Cross of California in any way. They then turn to BCBS of Nevada and I guess, for a lawyer standpoint, all Blue must be the same company?

Hey, lawyerly guys, here's a hint, Blue Cross of California and Blue Shield of California are not related carriers, are not structured the same (one is for-profit, one is not-for-profit) and are not owned by the same parent company. You mean the two California Blues are not the same company...wow, who would have thought that??? But don't let that stop you from including Blue Shield in your diatribe against Wellpoint.

Not long ago some legal department of some NJ corporation called me to inform me that they objected to writing a letter for a CA employee because, according to their phenomenal research, Cal-COBRA only applies to groups under 20. Wrong, wrong and just plain wrong. Applies to all domestically fully-insured groups no matter size and provides extension to 36 months for such groups under AB 1401 (2002). AB what??? Never heard of it.

BTW, I am back from England, had many pints of good beer, lots of meat pies and we had really great weather.

 

[moonlightandmargaritas]

Welcome home!

 

[Dave020]

Another mistake, CalPERS is covered by Blue Shield CA, not Blue Cross, so Wellpoint/Anthem have nothing to do with CalPERS and any criticism of the merger would never have come from that corner since they were completely unaffected.

 

[Dave020]

Welcome home!

Thanks, good to be home! Too old for those Guinesses these days, way to heavy for me.