Part 1: Tampa Injury Claims delayed – The Three “D’s” of the Insurance Industry: DELAY, DENY, DEFEND
U.S. insurance companies rake in billions of dollars in profits every year. How does the insurance industry make so much money? Unfortunately, many insurance companies–even the most well known and well respected–engage in dirty tricks and unethical behavior to boost their profits. Some of the most common tactics can be referred to as the three D’s: delay, deny, and defend.
Part 1 – Delay
The first D is delay. A claim is made and the demands begin: You need to fill out a form, you did not fill out the form correctly, you need to fill out another form, your claim is too late, your claim is not covered, back and forth, back and forth. Meanwhile, the benefits that the insurer is supposed to pay out remain in its pocket, inflating its profits.
The hope is that the more difficult the insurer makes it to collect and the longer the delay, the more likely it is that a person with a legitimate claim will give up and drop the claim.
Delay is an especially effective tactic with certain kinds of insurance (such as long-term care insurance), where the insurer knows that the illness affecting the person making the claim adds yet another obstacle to overcome before the person can collect the payment that he or she is due.
