FBI Raids Allstate in Quake Probe

2019-12-31T21:54:23+00:00

Federal investigators armed with search warrants have descended on Allstate Insurance Co. offices in three states, including its Northbrook headquarters, in a criminal probe related to the 1994 California earthquake, the company confirmed Monday. (via Chicago Tribune)

Insurance Claim Delays Deliver Massive Profits To Industry By Shorting Customers

2018-09-12T19:13:40+00:00

Unlike many other businesses, the insurance industry is bound by law to act in good faith with its customers. Because of their protective role in the lives of ordinary citizens, insurers have long operated as semi-public trusts. But since the mid-1990s, a new profit-hungry model, combined with weak regulation, has upended that ancient social contract. (Via HuffPost)