Early in 2008, the Consumer Federation of America published a scathing 37-page indictment of the property/casualty insurance industry, including one accusation that said insurers have turned their claim operations into "profit centers" by using computer programs and other techniques to underpay claims. The report sparked responses throughout the industry.
Claims decided to give both sides an opportunity to address the issues noted in the report. This month we sat down with the author of the report, J. Robert Hunter, to learn more about his accusations. In next month's column, readers will hear from industry spokesperson Robert Hartwig, president of the Insurance Information Institute.
What spurred you to write Property/Casualty Insurance in 2008: Overpriced Insurance and Underpaid Claims Result in Unjustified Profits, Padded Reserves, and Excessive Capitalization?
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