The headline of the lead story in yesterday's edition of “The New York Times” was devastating to the insurance industry's already tattered reputation–”Aged, Frail and Denied Care By Their Insurers.” (The word “Evil” before “Insurers” is implied.) Included was a page-one picture of a sweet, little old lady, being comforted by her daughter while battling long-term care insurers who are giving mom the runaround. Even though this does not involve property-casualty coverage, collateral damage will affect all types of carriers, as the general public doesn't distinguish among the various types of insurers. It's all one big, bad industry.
You may access the Times story by clicking here. Read it and weep.
The bulk of the story primarily dealt with claims problems plaguing policyholders of Conseco and its affiliate. But even though the article conceded that “tens of thousands of elderly Americans have received life-prolonging care as a result of their long-term-care policies,” the focus of the piece was that “thousands of policyholders say they have received only excuses about why insurers will not pay.”
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