Thanks to Dave Barshay for these:

CNN’s Cooper Anderson has done an investigation into the handling of claims in a certain insurance company and posted it on his blog. It did not put that insurance company in a positive light to say the least. Rather than do a simple cut and paste job and be accused of turning it into Plaintiff propaganda, I’ll leave the links above and let the article speak for itself.

Next is an article from the Seattle Times, (Business and Technology Section). Insurance companies are receiving some sharp criticism for making “record profits” while reducing their payouts. The article notes a study by Consumer Federation of America:

The study estimates the insurance industry’s profit after taxes in 2006 will be $59.9 billion, shattering the 2005 record of $48.8 billion and 2004′s $40.5 billion. Those profits have been achieved at the same time consumers are receiving less money from claims.

This article unlike the one above, has a statement from a representative of the insurance industry:

Marc Racicot, president of the American Insurance Association, defended the industry.” Last year was a fortunate anomaly given that in virtually every year over the past two decades, insurers lost money on their core business operations,” Racicot said in a prepared statement. “Healthy balance sheets better prepare insurers to face future catastrophes and greatly benefit consumers.” (there is more to their argument; have a look at the article)

And a counterargment from the Consumer Federation:

Still, the Consumer Federation study estimates that retained earnings, or surplus, for the entire industry was $606.7 billion at the end of 2006, up from $551 billion in 2005 and far greater than it says is needed to guarantee a solid and safe industry.

There is another CNN article titled: Auto insurers play hardball in minor-crash claims, where

you will find some additional insight.

All of these articles are recent; from the past week or so.

If anyone has any articles with another perspective (Defense oriented or otherwise) I’ll be glad to post them.
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