The Big Lie

The insurance industry wants the public to think that attorneys are driving up the costs of premiums as a result of lawsuits and frivilous claims.  Nothing could be further from the truth.  In a March 27, 2007 Associated Press story in the Birmingham News, the insurance industry continues to reap incredible profits at the expense of consumers.  The net income for the property-casualty insurance industry was $49.0 BILLION in 2005.  The estimate for 2006:  $68.1 BILLION.  That’s a $19 BILLION dollar increase in net income notwithstanding Hurricane Katrina.  Hardly an industry that we can feel sorry for. 

But, that’s not enough for the insurance industry.  Take a look at the following expose from CNN:

http://www.cnn.com/2007/US/02/09/insurance.hardball/index.html

Next time you or someone you know is injured in an accident, keep these facts and figures in mind.  More importantly, the next time you sit on a jury involving a clear liability claim in a car accident, remember that the reason you are there is because the insurance company for the driver at fault probably wouldn’t agree to pay a reasonable amount.  If we don’t want insurance companies to have to pay claims, why should we have insurance at all?  I don’t enjoy paying the premiums, do you?

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