Insurance Claim Delays Deliver Massive Profit to Industry by Shorting Customers

In representing homeowners with Hurricane Matthew claims I can’t help but to recall this old, yet very relevant, article.  Still a good read and just as true as ever. 

Insurance Claim Delays Deliver Massive Profits to Industry by Shorting Customers

WASHINGTON — Unlike many other businesses, the insurance industry is bound by law to act in good faith with its customers. Because of their protective role in the lives of ordinary citizens, insurers have long operated as semi-public trusts. But since the mid-1990s, a new profit-hungry model, combined with weak regulation, has upended that ancient social contract…. (Read more)

If you would like further reading on the topic I would highly recommend these books:  “From Good Hands to Boxing Gloves: The Dark Side of Insurance.” By David Berardinelli, and “Delay, Deny, Defend“ By Jay Feinman