Do you know how your automobile insurance company stacks up against the
competition? The American Association for Justice (AAJ) has identified
the 10 worst US insurance companies, based on consumer complaints to state
regulatory agencies and lawsuits filed on behalf of consumers.
According to AAJ, the worst US insurance companies are:
4. State Farm
8. United Health
10. Liberty Mutual
What makes Allstate the worst? According to AAJ, Allstate puts profits
over policyholders. Allstate maximizes their profits by refusing to paying
claims, by delaying payment on claims, and by forcing those injured through
no fault of their own to hire an attorney and go to court in order to
be fairly compensated for their injury. These are some of the tactics
I see every day working to protect my client's who have been injured in
While Allstate may be the worst of the bunch, it is not alone. AIG (yes,
the same one we tax payers bailed out in 2009), State Farm, Farmers, and
Liberty Mutual are also on AAJ's 10 worst list, despite that they
have enjoyed record profits over the past few years and despite paying
multi-million dollar salaries to their executives. In 2007, Allstate's
profits were $4.6 BILLION and its CEO was paid $10.7 million. For the
same period, AIG's profits were $6.2 BILLION and its CEO was paid
$14.3 million; State Farm's profits were $5.5 BILLION and its CEO
was paid $11.7 million; Farmers profits (for all of Zurich Financial)
were $5.6 BILLION and its CEO was paid $10.3 million; and finally, Liberty
Mutual's profits were $1.5 BILLION and its CEO was paid $27 million!!
Big insurance companies like Allstate have put profits ahead of their policyholders
for too long. According to AAJ, they do whatever it takes maximize profits
and CEO pay at the expense of consumers like you. These companies rake
in huge profits and their CEO's take home equally huge salaries paid
for by policyholders like you. Isn't it time the companies who advertise
themselves as "good neighbors" and "the good hands people"
actually look out for their policyholders more than their bottom lines?
You can fight insurance industry greed by supporting pro-consumer insurance
regulations and reform such as requiring insurance companies to respect
consumer rights and obtaining prior approval from the Insurance Commissioner
before raising insurance rates.
And, most importantly, if you or someone you know has been injured in a
motor vehicle accident, motorcycle accident, or any other type of accident
and the other driver is insured by Allstate, State Farm, Farmers or any
of these "worst" companies,
hire an experienced injury lawyer
, because you're going to need an experienced injury lawyer looking
out for you.