Personal Injury Lawyer Reviews Delay, Deny, Defend By Jay M. Feinman

Did you know that an expert law professor wrote a book about the inner workings of property and casualty insurance companies?  These large companies process thousands of claims, such as car accident claims, daily.  At Bottaro Injury Lawyers, we help car accident victims take on these massive companies like Allstate, GEICO, and Progressive.  Therefore, we have found Delay, Deny, Defend to be very illuminating an instructive.  In fact, we require our lawyers to read it!  Today, I want to discuss key takeaways of Delay, Deny, and Defend that will help you think about the insurance industry.

A physical copy of Jay M. Feinman’s Delay, Deny, Defend.

The National Association of Insurance Commissioners (NAIC).  Does Self-Regulation Work?

Oftentimes, insurance companies do not strive to pay claims fairly and promptly.  If anything, they often try to avoid paying justified claims.  As a result, this book not only gives us an inside look on car insurance companies, but also questions whether this system works at all.

For example, it seems clear that auto insurance companies are hyper focused on profit margins, at the expense of consumers. Consumers who are required to buy their product in order to operate a car.

Despite the costly monthly premiums we pay for financial protection, Feinman points out that these companies have designed deliberate processes to frustrate consumers from getting the benefits they paid for with ease.  Of course, the best personal injury lawyers know this , but most regular people do not.  Consumers are continuously fooled into thinking that their “own insurance company” has their back.

Towards the beginning of the book, the author discusses the National Association of Insurance Commissioners (NAIC).  A common initial thought is “great, this means that insurance companies have rules and standards to adhere to.”  However, the author later dives into how the NAIC is essentially funded by the insurance companies themselves.

The NAIC’s budget is heavily reliant on fees and other income from the insurance companies.  It makes you question… How independent is the NAIC when they operate on a budget funded by companies in which they are tasked to oversee?

A main advantage for insurance companies in delaying claims is that they can continue to invest and earn money on the money that they are refusing to pay out.  No wonder they aren’t quick to pay claims!

The Insurance Industry as a Pure Profit Industry

Insurance used to be a local, community-based system.  The industry has obviously evolved, but it really started to change when McKinsey began consulting for big insurance companies.  Essentially, McKinsey’s consulting measures turned the claims process into a pure profit machine.

Adjusters used to have the authority and freedom to make settlements that were a fair depiction of what the insured was actually owed.  Now, most entry level adjusters have very little training and are heavily constrained to the computer automated system.

The main goal for the insurance companies is pure profit and not paying out a cent more than they can.

“Insurance companies completely dehumanize the process of helping injured people.”
– Attorney Casey Keilty

Is Insurance Fraud to Blame?

Insurance companies push the narrative that insurance fraud is the real problem in the insurance industry.  Insurance company-led mass campaigns paint the main problem as fraud draws attention away from the issue of their own claims processes.

This is a reminder that, “society is constantly pointed towards what problems [it] should be focused on, in general, not specifically pertaining to insurance.” Media, which is driven by large corporations and conglomerates, chooses which problems in the world to highlight and that’s what society switches their focus and attention to.

 “Statistics can be portrayed in a way that benefits the entity reporting them.”

This quote is a bit disheartening, as most people do not seek help from personal injury lawyers and up taking what the insurance companies offer them.  People who do not know any better end up getting taken advantage of.  We hope that the key takeaways from Delay, Deny, Defend help you!

 If you or a loved one are trying to get a fair amount of money from an insurance company, our advice is to hire a lawyer. Claimants receive 2-5x more when they report a claim by a lawyer.

It’s Good to Know Mike Bottaro – 24/7 Top-Rated Personal Injury Help

At Bottaro Injury Lawyers, we care for people.  Attorney Mike Bottaro and his award-winning legal team handle all types of personal injury cases including wrongful death throughout Rhode Island and Massachusetts.  We can even help on cases in other states as well.  We pride ourselves on our honesty, integrity, and results.  Contact us 24/7 in any method you prefer for a fast, free, and confidential consultation about your case.  Text or call us at 401-777-7777, or fill out our free and confidential online form.  We are here to serve and help you!

Working with Bottaro Injury Lawyers, Legal Assistant Bianca