Reply #4: Insurers have joined the kleptocracy

[Jacobin]

the year of Katrina and Rita, U.S. insurers had RECORD profits, even after reserving for those losses. I have assisted several hurricane victims in working out insurance claims and it is no different from dealing with the mafia. They lie, cheat, make up clearly false engineering reports, question good faith estimates, re-interpret insurance provisions until they are meaningless, and bully and bluff you into taking pennies on the dollar by threatening to litigate for years. When the defense lawyers get the file, they slow play everything, taking months and months to schedule depositions, months to answer routine discovery, filing every motion known to mankind to delay the trial, knowing that they will wear 90% of claimants down until they simply give up and take a pittance for their claims. And Louisiana's insurance commissioner did us proud right after Katrina by encouraging everyone to settle with their insurers and not to litigate. Bought off politician.

The entire system is utterly rigged against people who have policies. And now the policies are priced so that it is almost impossible to obtain insurance, which you have to have to get a mortgage.