The American Association for Justice (AAJ) conducted an extensive investigation to determine the worst insurance companies in America.  These include homeowners and auto insurers, health insurers, life insurers, and disability insurers. 

            According to AAJ, Allstate is placed at the top of the worst insurance provider list; this is largely due to the fact that their primary mission is to “earn a return for the shareholders.”  As a senior executive at the National Association of Insurance Commissioners (NAIC) said, “The bottom line is that insurance companies make money when they don’t pay claims.”  Allstate even goes so far as to distribute corporate training manuals explaining how to avoid payments, and portable refrigerators are awarded to the adjusters who deny the most claims.  Former employees have called Allstate’s approach to claims the “three D’s”: deny, delay, and defend. 

            The top 10 list produced by AAJ, includes the following insurance companies:

                      Profits                          Assets

Allstate           $4.6 billion                   $156.4 billion

Unum             $679 million                  $52.4 billion

AIG               $6.2 billion                   $1.06 trillion

State Farm      $5.5 billion                   $181.4 billion

Conseco         $179.9 million               $33.5 billion

WellPoint        $3.2 billion                   $51.6 billion

Farmers           $5.6 billion                   $387.7 billion

UnitedHealth    $4.7 billion                   $53.5 billion

Torchmark       $527.5 million               $15.2 billion

Liberty Mutual  $1.5 billion                   $94.7 billion

 

            It seems that the insurance industry has lost sight of the policyholders, and as Allstate’s CEO said, they have “begun to think and act more like a consumer products company.”  However, pro-consumer insurance reforms are being pushed, among these are: requiring insurers to work in good faith with consumers, requiring prior approval of rate increases, and establishing an insurance consumer advocate.

            Do not assume that because you are purchasing insurance you will always be protected, and keep these names in mind the next time you purchase insurance.  For more information on AAJ’s findings, and more specific information regarding individual companies, read the full report at http://www.justice.org/docs/TenWorstInsuranceCompanies.pdf

On June 24, 2008, Texas mesothelioma cancer attorneys that represent the daughter of a deceased man filed a lawsuit against 14 companies, including her father’s employer, DuPont. The woman’s father died of mesothelioma that resulted from asbestos exposure on June 24, 2005.

In addition to the father’s employer, the asbestos cancer lawsuit also includes Metropolitan Life Insurance Co. They were included in the asbestos cancer lawsuit due to allegedly failing to convey information regarding the dangers of asbestos exposure.

The asbestos cancer lawsuit states that the man was employed by DuPont as an inspector and pipefitter. In his position, he was allegedly exposed to asbestos for many years.

All 14 companies are accused of concealing the dangers of asbestos exposure and purposefully exposing people to asbestos despite their knowledge of the dangers.

A post office in New Jersey has been shut down after asbestos was discovered, which city officials believe could pose a risk to employees and customers.  The borough post office’s four letter carriers were being moved to the Philipsburg post office when the asbestos was discovered by moving crews.While moving crews were moving furniture and carrier cases at the post office, asbestos was revealed and employees immediately became concerned.Some tiled reportedly became loose and exposed the asbestos, which could cause fatal problems to those who are exposed to it.According to reports, the post office, which is located on Railroad Avenue, will be closed indefinitely until the scope of the asbestos problem is determined.  “We would appreciate our customers’ patience as we move forward with this project,” says Darleen Reid, a spokeswoman for the U.S. Postal Service