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Assurant medical insurance company facing class-action law suit for refusing to pay customers' medical claims? |
Claims which were legitimate. Why does a big insurance company involve themselves with such a bad practice when they should have known that eventually they'll get into trouble for it? The parent company, Assurant, Inc has an AM Best rating of A and Assurant Health has a rating of A-. They have been in business for 110 years so I'd doubt they'll go out of business anytime soon. The class action lawsuit is not just against Assurant but other notable health companies such as Blue Cross and Health Net. The suit alleges that the companies revoked the policy of the claimants not that they refused to pay claims. The insurance companies state that the applications were not filled out truthfully (the claimant didn't disclose the information or put in the wrong dates, etc.). The companies are working with California to make the applications easier to understand. Hopefully, this will carry over to all states. Source(s): Independent Agent Hmm. I just checked AM Best. The only Assurant health insurance companies, aren't rated. That means, they're NOT Rated. No independent agent worth their salt would EVER consider selling a policy from a non-rated carrier. Why? Because - This kinda stuff happens ALL THE TIME with nonrated carriers. E&O insurance won't even COVER you if you sell a policy from a nonrated carrier. I'd guess these folks will file bankruptcy and be out of business, before any class action lawsuits can get paid. Good luck, and stop buying insurance over the internet - you get what you pay for, and you acted as your own agent. agent, 21+ years hi check this link its good http://insuranceadviceforyou.blogspot.co... . |
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