The following article is published in Bloomberg Markets [Since removed from the internet] It provides one of the most comprehensive public media stories covering the serious problems in the insurance industry in America caused by programs of defense, delay and denial of claims.
The Insurance Hoax
By David Dietz and Darrell Preston
Julie Tunnell remembers standing in her debris-strewn driveway when the tall man in blue jeans approached. Her northern San Diego tudor-style home had been incinerated a week earlier in the largest wildfire in California history. The blaze in October and November 2003 swept across an area 19 times the size of Manhattan, destroying 2,232 homes and killing 15 people. Now came another blow.
Below is a Transcript of CNN’s Expose on Allstate and State Farm [since removed from CNN and all web video services.] Wed., Feb. 7, 2007
Insurance companies fight paying billions in claims
"ANDERSON COOPER: Traffic accidents, of course, are a fact of life. So is dealing with insurance companies. You pay them to protect you. That’s the idea. But some accident victims say they’re being forced to settle or go to court because
the claims are denied.
We wanted to know the facts, and in a CNN investigation, we looked into
whether some big name insurers are more interested in profit than