Do Some Insurance Companies Deny More Claims Or Pay Less Than Others?
Another valid question. A few years ago, a lawyer's group now know as the American Association for Justice, put out a fascinating publication called the '10 Worst Insurance Companies in America'. [https://www.justice.org/.../AAJ_Report]
It's a safe bet to say that most people know many insurance companies are massive, and profitable. It's probably a safe bet to say that most people don't really understand just how much money the major insurance companies actually make.
The American Association for Justice puts that figure at 30 billion dollars, annually, for US property/casualty insurers. [information from the Insurance Information Institute].
The profits are in part the result of earning more on investment income from those premiums collected than is paid out in claims and other overhead. A seasoned Maryland car accident lawyer may play a vital role in assuring that your claim receives full compensation. According to the American Association for Justice, the 10 worst, in descending order are: Allstate, Unum, AIG, State Farm, Conseco, WellPoint, Farmers, UnitedHealth, Torchmark, Liberty Mutual. The results, and impressions, may vary from state to state, as not all carriers write business in every state, and some insurance companies write a disproportionate number of polices in a handful of states.
-This Articel was updated by Eric Kirk on 10/14/19.