Is there a way for insurers to provide more information about claims outcomes–specifically, how much insurers actually pay out to close a claim, versus how much the claimant sought? A journalism “auditor” suggested recently that the lack of such hard numbers makes it impossible to accurately judge the industry's claims-handling performance, and he may be onto something.
Dean Starkman, who edits “The Audit” for Columbia Journalism Review, got into the middle of a major brouhaha over the accuracy and fairness of a cover story in last September's Bloomberg Markets magazine, “The Insurance Hoax,” which I had taken to task in my blog as a “hatchet job.”
Mr. Starkman disagreed, praising the investigative report in his July 8 online column, headlined: “Fact Fight” (Click here to read his full report, and here and for my last blog on the topic.)
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