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Thursday, August 12, 2010

The Insurance Hoax

The Insurance Hoax: "One slide McKinsey prepared for Allstate was entitled 'Good Hands or Boxing Gloves,' the tape of the Kentucky court hearing shows. For 57 years, Allstate has advertised its employees as the 'Good Hands People,' telling customers they will be well cared for in times of need. The McKinsey slides had a new twist on that slogan. When a policyholder files a claim, first make a low offer, McKinsey advised Allstate. If a client accepts the low amount, Allstate should treat the person with good hands, McKinsey said. If the customer protests or hires a lawyer, Allstate should fight back.

'If you don't take the pittance they offer, they're going to put on the boxing gloves and they're going to batter injured victims,' plaintiffs attorney J. Dale Golden told Judge Thomas Clark at the May 12, 2005, hearing in which the lawyer introduced the McKinsey slides."

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