Reply #65: Insurers accused of overcharging and underpaying consumers

[AnneD]

WASHINGTON — U.S. insurance companies systematically overcharge customers and underpay home and auto claims to pad their already-fat bottom lines, a consumer group said Thursday.

The Consumer Federation of America's insurance director, J. Robert Hunter, said insurance companies have enjoyed robust profits and contained losses largely by "methodically overcharging consumers, cutting back on coverage, underpaying claims and getting taxpayers to pick up some of the tab for risks the insurers should cover."

Hunter's comments came with the release of a study by Consumer Federation, Consumers Union and several other consumer organizations that said the industry's overcharges reached an average $870 per U.S. household over the last four years.

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Less from claims
The industry has reaped those profits at the same time that consumers are receiving less money after filing claims, the consumer group said. A study released a year ago by the organization put forward similar conclusions.


http://www.chron.com/disp/story.mpl/business/5445518.html

Is anyone surprised by this...:cricketschirping: I thought not.
They want to smear John Edwards over this. Hell I think he deserves a Medal Of Freedom for going after these rat bastards.