Insurance Industry Continues to Rip Off Insureds

A report released by a consumer activist group accuses the insurance industry of overcharging policyholders and undercutting payments on claims. The report, released by the Consumer Federation of America, says that record profits for insurers can be traced to a systematic strategy of raising premiums, reducing coverage and underpaying claims. A lobbyist for the insurance industry dismissed the report, saying that its findings were baseless. David Drawbaugh, Reuters 01/10/2008
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