The Insurance Hoax

The Insurance Hoax: "Insurance companies are no longer following their mandate to take care of policyholders' money and then pay it out when needed, says Douglas Heller, executive director of the nonprofit Foundation for Taxpayer and Consumer Rights in Santa Monica, California. 'The whole purpose of insurance is evaporating before our eyes as we continue to send checks to the companies,' Heller says. 'Insurers are looking to shed their purpose as a risk bearer and become financial institutions.'"