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(More customer reviews)We buy insurance either because we have to or because we want security just in case something were to happen to us, our property, or to others. Many of us have never experienced a tragic car accident, house fire, or a tornado. If we do, we presume the insurance agent that sold us a policy to protect us against such tragedies and the insurance company will honor their obligations and fulfill their promises to put us "in good hands," act "like a good neighbor," and be "the relationship company."
Yet, when tragedy strikes, all too often, you become a suspect, raising red flags merely because your insurance agent sold you a policy with "higher than normal amounts." Your insurance company seeks your cooperation in their investigation of your loss as stated in your policy. You are asked to provide an inventory of your personal items with supporting documents showing where you purchased them from and for how much. You are asked to provide your credit card, bank, and utility statements for up to five years prior to your tragedy. You are subject to an examination under oath by an attorney with a court reporter transcribing everything you say, which will be used against you to deny you coverage under your policy.
While the insurance company conducts its investigation for any justification to deny you coverage under your policy, your finances get tight, your claim becomes a drain upon you, your family, your work, and your loss remains unpaid. The longer the insurance company delays, the weaker your financial position and will to fight for your insurance proceeds. Meanwhile, your insurance company maintains control of your insurance proceeds and earns interest on its investments. You receive a low ball offer, if any, or your claim is denied.
Next, you can choose to hire an attorney to pursue what is rightfully yours with the knowledge that they do not come cheap and any recovery will take another several months to a year. The attorneys representing your insurance company pay for themselves by chipping away at your claim until you lose the will to continue with a trial where you be treated like a criminal defendant, trying to defraud your insurance company.
Delay, Deny, Defend spells out this scenario for all of us who had not yet had this experience and to put us on guard for when we make a claim. Because when we make an insurance claim, our insurer becomes our adversary. Whether we acknowledge that or not, our insurance company thinks this way. I can affirm this, because I am an attorney who has worked as in-house and outside counsel for insurance companies, and I have done it. I have had several insurance claims of my own, and I represent insureds seeking to recover under their insurance policies. So, when you make a claim, don't wait until it's too late. Read this book and be on guard for when you become the victim of tragedy and your insurer treats you with boxing gloves.
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Delay, Deny, Defend: Why Insurance Companies Don't Pay Claim and What You Can Do About It An expose of insurance injustice and a plan for consumers and lawmakers to fight it Over the last two decades, insurance has become less of a safety net and more of a spider's web: sticky and complicated, designed to ensnare as much as to aid. Insurance companies now often try to delay payment of justified claims, deny payment altogether, and defend these actions by forcing claimants to enter litigation. Jay M. Feinman, a legal scholar and insurance expert, explains how these trends developed, how the government ought to fix the system, and what the rest of us can do to protect ourselves. He shows that the denial of valid claims is not occasional or accidental or the fault of a few bad employees. It's the result of an increasing and systematic focus on maximizing profits by major companies such as Allstate and State Farm. Citing dozens of stories of victims who were unfairly denied payment, Feinman explains how people can be more cautious when shopping for policies and what to do when pursuing a disputed claim. He also lays out a plan for the legal reforms needed to prevent future abuses. This exposé will help drive the discussion of this increasingly hot- button issue.
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