One thing Noble Public Adjusting Group loves about the internet is that there is no telling what valuable, free information you may run across. What we are sharing with our blog readers today is a perfect example. This free, 18-page PDF from the American Association for Justice titled Tricks of the Trade: How Insurance Companies Deny, Delay, Confuse and Refuse has a wealth of information that all property owners should definitely read.
Free PDF from American Association for Justice: How Insurance Companies Deny, Delay, Confuse and Refuse
For your convenience, Noble Public Adjusting Group has included a few paragraphs from the introduction to the free PDF to get you started:
“The U.S. insurance industry has trillions of dollars in assets, enjoys average profits of over $30 billion a year,
and pays its CEOs more than any other industry. But insurance companies still engage in dirty tricks and
unethical behavior to boost their bottom line even further. The current economic turmoil affecting the insurance
industry on Wall Street has only made the outlook bleaker for consumers living on Main Street. Insurance
companies are likely to demand huge rate hikes and refuse more claims than ever.
Some of America’s most well-known insurance companies—the same ones that spend billions on advertising to earn your trust—have endeavored to deny claims, delay payments, confuse consumers with incomprehensible insurance-speak, and retroactively refuse anyone who may cost them money. This report describes some of the most egregious ways the insurance industry attempts to make money at the expense of consumers. These are some of the tricks of the trade:
Some of the nation’s biggest insurance companies—Allstate, AIG, and State Farm among others—have
denied valid claims in an attempt to boost their bottom lines. These companies have rewarded employees who
successfully denied claims, replaced employees who would not, and when all else failed, engaged in outright
fraud to avoid paying claims.
Delaying Until Death
Many insurance companies routinely delay claims, knowing full well that many policyholders will simply give up. Some have gone so far as to lock paperwork away in safes. Undoubtedly, the most shameful use of delay tactics has been by long-term care insurers, who often take advantage of their policyholders’ age and ill health. In the words of one regulator, “the bottom line is that insurance companies make money when they don’t pay claims…They’ll do anything to avoid paying because if they wait long enough, they know the policyholders will die.”3
Insurance contracts are some of the densest and incomprehensible contracts a consumer is ever likely to
see. More than half of all states have enacted “plain English” laws for consumer contracts, yet many Americans still do not fully understand the risks they are subject to. After Hurricane Katrina, insurance companies used obscure “anti-concurrent” clauses to get out of paying claims. Consumers who purchased hurricane insurance and thought they were covered suddenly found the coverage eliminated by an obscure clause they could not hope to understand.”
Noble Public Adjusting Group was really stoked about discovering this free PDF from the American Association for Justice. The link to the full document is in the beginning of this blog post, so make sure you scroll up and click on that link so that you can read this valuable information. A lot of time and research went into creating the document, as you will see in the footnotes, which include 52 references. The wealth of information contained in this valuable, free PDF validates what Noble has been saying all along, that policyholders need someone in their corner when you file an insurance claim.
The fact is, by using a public adjuster like Noble PA Group to handle your insurance claim, as a recent study shows, you will receive on average 747% more of a settlement than if you handled the claim yourself. Between the information in the free PDF from the American Association of Justice we have shared here, and the results of that study, to NOT use a public adjuster to file your insurance claim seems like insanity, wouldn’t you agree?
Call us today to discuss this blog post and the PDF we have shared, or for any other questions or concerns, you may have. If you have a property insurance claim that you need us to file for you, don’t hesitate to call us. Noble’s home office is in Panama City Beach, Florida, but we can handle an insurance claim anywhere in the US. In fact, we are the #1 insurance appraiser in the nation.
Noble Public Adjusting Group
107 Amar Place Suite 103
Panama City Beach (West End), FL 32413