Insurers Squeeze Consumers to Boost Profits

Donald Caminiti

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LawyersUSA (11/13, Atkins) reported that a study by the American Association for Justice indicated that "insurance companies are putting the squeeze on consumers in an effort to boost profits" as the economic turmoil increases. The AAJ report contends that insurers' "tactics include denying more claims, using confusing policy language, discriminating based on credit score and retroactively canceling healthcare policies for consumers with serious illnesses," policies which "hurt consumers." Jon Haber, AAJ CEO said, "Insurance companies are preying on cash-strapped consumers with tough tactics to increase profits." He added, "The current challenges facing American families are only compounded when their insurance company plays hardball in their greatest time of need."