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Friday, August 13, 2010

Insurance Claim Problems - 10 Worst Insurance Companies Deny Claims Raise Premiums

Insurance Claim Problems - 10 Worst Insurance Companies Deny Claims Raise Premiums: "In 1999, a series of powerful tornadoes killed 44 people in Oklahoma and caused $1.8 billion in damages. Homeowners brought a class-action suit against State Farm, alleging the company had tried to undervalue damage to homes or claim damage was caused by other factors such as faulty construction. A jury eventually ruled that State Farm acted 'recklessly' and 'with malice' and disregarded its duty to policyholders. The firm that State Farm used to allegedly undervalue damage was Haag Engineering-the same firm that would be accused of mishandling Katrina claims six years later.82"

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