CNBC: Fighting Back When Your Insurance Claim is Denied
Guest Author Blog: Jay Feinman, the author of DELAY, DENY, DEFEND: Why Insurance Companies Don’t Pay Claims – And What You Can Do About It.
Insurance companies basically sell security. A consumer is willing to pay insurance premiums in the expectation that if something bad happens—a house burns down, a car crashes—the company will pay for the loss that otherwise might financially ruin the consumer.
But insurance companies increasingly fail to honor their promise of security.
Insurance Companies Sacrifice Customers for Profit
On December 13, 2011, The Huffington Post published an article all policyholders should read. The title of the article is, Insurance Claim Delays Deliver Massive Profits To Industry By Shorting Customers, and it reports how the insurance industry is making money by delaying, or denying, valid claims made by the customers they are supposed to protect. It highlights how the insurance industry has shifted from a service industry to an industry that is drive by corporate profit and loyalty to shareholders.