The Trial-Tested Representation Your Case Requires
Whose side is an insurance company really on?
May 1, 2023
When it comes to insurance companies, profit is very closely tied to risk. Insurance companies take on a risk with every client and every policy.
For example, consider a life insurance policy. The risk is that the person will pass away more quickly than expected, giving the insurance company less time to collect premiums. Or maybe it’s a home insurance policy. The risk is that the home could burn to the ground or suffer significant damage in a storm, and then the company will have to pay out more than they’ve brought in through monthly premiums.
A conflict of interests
In many ways, insurance companies make money
at the expense
of the consumers who are buying their policies. In other words, an insurance company definitely wants you to think that it is on your side. It wants you to feel as if it is here to help when you need it. But the reality is that the insurance company is simply trying to make as much money as possible. If helping you runs counter to that aim, its employees may be resistant to doing so.
For example, maybe you filed an expensive claim and your insurer only agreed to pay out a small percentage. Or perhaps it simply denied your claim entirely, when you know it’s valid. You may start feeling as if the insurance company is attempting not to pay you the way that you believed it would when you bought that policy. Doing so is just too expensive. It’s hoping you will accept a smaller payout or that you won’t keep pursuing one.
But you can see how problematic this is from your perspective. You thought that you were buying a service and that the insurance company would be there to cover the costs when you needed it. If it is not there for you, what legal steps do you have to take? It’s important to know about
all of your options
, especially with so much money on the line.