Do you ever wonder why I say you need someone to help you when an insurance company is involved? Well maybe this headline from this week’s Boston Globe will help explain:
“AIG hid evidence to avoid settlement, judge rules”
American International Group (AIG) is not a minor company. According to Wikipedia, AIG has 63,000 employees, operates in more than 130 countries, and is capitalized for more than $73 billion.
The Boston judge wrote that AIG used “deliberate or callously indifferent acts designed to conceal the truth, improperly skew the legal system, and deprive (the victim) of fair compensation for their injuries.”
The victim is Odin Anderson who was hit by a bus in downtown Boston in 1998. Anderson survived, but was never the same again.
AIG did what insurance companies always do, they denied, delayed and defended. It wasn’t until 2003 that the case ended up in court, where a jury awarded Anderson $2.2 million. … Which the insurance company appealed, and the appeals court agreed with the jury and even upped the award to $3.6 million.
It was after the appeal that Anderson’s attorneys filed a complaint against AIG’s defense. It is that complaint the judge ruled on this week, awarding Anderson an additional $7 million.
The truth is it would have cost AIG less money if it had just done what it was supposed to from the beginning. But it didn’t.
According to the story in the Boston Globe, the judge wrote that “Lawyers for the company made up facts and persuaded the bus driver who struck (the victim) to change his account of what happened.”
The insurance giant lied and cheated to avoid paying what it owed. Remember, this is the same company that was “too big to fail” and was bailed out by the American taxpayer even though it was paying hundreds of millions of dollars in bonuses to the people who plunged the country into financial crisis.
Well, now you know where they got the money for the bonuses. From guys like Anderson.
And now you know why you should always have an attorney on your side when dealing with an insurance company.
Like I always say, if insurance companies just did what they were supposed to do, I’d be out of business.