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White Papers
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American Association for Justice
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Pattern of Greed 2007: How Insurance Companies Put Profits Over Policyholders
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It has been two years since Hurricane Katrina swept across the Gulf Coast, leaving historic levels of death and destruction in its wake. The storm caused an incredible $135 billion in damages, leaving thousands homeless, jobless and bereft of hope. Facing their darkest hour,
many of the survivors found themselves victimized a second time by an insurance industry
offering pennies on the dollar, refusing to honor many agreements, and claiming that the destruction had nothing to do with wind damage, which is covered under most policies, but was caused by floodwater, which is not. Mississippi Attorney General Jim Hood declared that some insurance companies even engaged in fraud, alleging that adjusters for some firms tried to trick Katrina victims out of millions of dollars in homeowner claims.
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Pattern of Greed 2007: How Insurance Companies Put Profits Over Policyholders (pages: 16)
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