By Mark Schofield
On August 29, 2005, Hurricane Katrina made landfall along the American Gulf Coast. Over the days that followed, Americans viewed images of homes being destroyed, and lives being severely altered, as Mother Nature unleashed her wrath in Louisiana and Mississippi. As many as 1,836 people lost their lives as a result of Hurricane Katrina and the subsequent floods, making that storm the deadliest United States hurricane since 1928. The storm also caused an estimated $81.2 billion dollars in damage.
In the months following Hurricane Katrina, residents of the Gulf Coast were subject to severe hardships. Many who had lost their homes in the disaster either relocated, or stayed behind to try and reassemble their homes, and their lives. However, many soon found that their own insurance companies would only add to their burdens, by denying claims made under homeowner’s insurance policies. According to these insurance companies, even if homeowners had purchased policies that included coverage for hurricanes, the damage to their homes was actually caused by flooding. Therefore, the insurance adjusters reasoned, unless a homeowner had purchased flood insurance, which is a separate insurance often not provided for in homeowner’s insurance policies, losses would not be covered.
Xavier University, along with a number of individual homeowners, challenged that line of thinking in a Louisiana State Court. Despite those exclusions in their policies regarding flooding, these individuals and Xavier University advanced the argument that the flooding was caused by the negligent design and maintenance of the levees in and around New Orleans.
Negligence that anyone who watched Hurricane Katrina unfold live on television could see. These Plaintiffs argued that their policies do not exclude coverage for an inundation of water caused by negligence.
Today, the United States Supreme Court declined to hear the case, effectively ending the chances these Plaintiffs will ever recover for their losses that resulted from Hurricane Katrina.
It is true that insurance companies are businesses, and that they are in the business of making profits. However, Hurricane Katrina was a natural disaster unlike any this country had seen in almost 100 years. Thousands of individuals lost their lives, and billions of dollars in damage resulted. Yet in the end, individual homeowners are left holding the bag, as insurance companies walk away, leaving their policyholders behind.
Sadly, this is one of thousands of examples of insurance companies putting their profits over the interests of their policy holders. Every day in this country, an individual learns the hard way what the Plaintiffs in this case have learned: Insurance companies are looking out for their bottom line. State Farm is not often a good neighbor. You are not necessarily in good hands with Allstate.
It is stories like this that drive the attorneys at Goldberg, Finnegan & Mester to stand up for those individuals in their fights against insurance companies, be it the insurance company that denies an automobile accident claim, the insurance company that denies medical coverage or coverage for medical negligence, or the insurance company that denies coverage for the loss of a home or business (homeowner's insurance claims). If you have been injured and are trying to fight an insurance company, don’t do so on your own. Contact one of the
attorneys here at Goldberg, Finnegan & Mester for a free phone consultation.
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Tuesday, February 19, 2008
Sunday, January 13, 2008
Insurance Companies Underpay Auto Claims and Overcharge Customers
By Mark Schofield
Attorney at Law
One of the reasons we practice the type of law that we do is because the insurance industry is only out to protect its selfish interests over anything else, including the public at large, consumers, and companies. We have long known that the insurance industry and big business put their own profits above their customers, and now independent research is confirming the despicable lengths to which the insurance industry will go to make a profit. Don’t get us wrong: we believe that a business should be profitable, but not at the expense of your customers and not when done in bad faith.
According to a recent study published by the Consumer Federation of America in corroboration with the Consumers Union and several other consumer organizations, their research found that in order to increase profits and protect their “bottom line,” United States insurance companies overcharge their customers and underpay both home and automobile claims. The study, released this week by the Consumer Federation of America, found that the insurance industry’s overcharges reached an average of $870.00 per United States household over the last four years.
According to J. Robert Hunter, the insurance director for the Consumer Federation of America, insurance companies have enjoyed record profits, while minimizing losses, by “methodically overcharging customers, cutting back on coverage, underpaying claims and getting taxpayers to pick up some of to the tab for risks the insurers should cover.” The study, based on the insurance industry’s own data and financial reports, estimates that the insurance industry’s net income after taxes in 2007 will be $65 billion dollars, a small decrease from the previous record of $67.6 billion set in 2006, but still a large jump over the 2005 net income of $48.8 billion.
An examination of the full report, available online at: http://www.consumerfed.org/pdfs/2008_INSURANCE_RELEASE_FINAL.pdf and indicates a number of startling facts about the recent success of the insurance industry:
• The insurance industry enjoyed record profits in 2004 and 2005, despite significant hurricane activity.
• In recent years, insurers have sharply increased premiums for homeowners and commercial insurance policies, while reducing or eliminating coverage for thousands of Americans in costal areas.
• Insurers are seeking additional subsidies from Congress for catastrophe insurance.
• Consumers have experienced a drastic drop in the amount of claims payouts.
• In the past five years, the insurance industry has enjoyed record level profits, and record low losses. Consider that the industry’s net income (post-tax) in 2003 was $31.2 billion dollars. In less than five years, this number has more than doubled to $65 billion dollars.
As always, consumers need to remember that despite what they see in the news, and on television commercials, insurance companies (even their own insurance companies that claim to be looking out for them) are companies in the business of making a profit: given that the insurance industry is experiencing record profits, it is clear that these companies are making these profits at the expense of their individual consumers, as well as at the expense of those who dare make a claim for insurance after an accident, injury or loss.
Insurance companies will fight to protect their profits, and their bottom line and do not care who gets in their way. Consumers and those with claims against these insurance companies need someone in their corner, fighting for their rights. The attorneys at Goldberg, Finnegan and Mester fight insurance companies on a daily basis for the rights of the individuals we represent.
Attorney at Law
One of the reasons we practice the type of law that we do is because the insurance industry is only out to protect its selfish interests over anything else, including the public at large, consumers, and companies. We have long known that the insurance industry and big business put their own profits above their customers, and now independent research is confirming the despicable lengths to which the insurance industry will go to make a profit. Don’t get us wrong: we believe that a business should be profitable, but not at the expense of your customers and not when done in bad faith.
According to a recent study published by the Consumer Federation of America in corroboration with the Consumers Union and several other consumer organizations, their research found that in order to increase profits and protect their “bottom line,” United States insurance companies overcharge their customers and underpay both home and automobile claims. The study, released this week by the Consumer Federation of America, found that the insurance industry’s overcharges reached an average of $870.00 per United States household over the last four years.
According to J. Robert Hunter, the insurance director for the Consumer Federation of America, insurance companies have enjoyed record profits, while minimizing losses, by “methodically overcharging customers, cutting back on coverage, underpaying claims and getting taxpayers to pick up some of to the tab for risks the insurers should cover.” The study, based on the insurance industry’s own data and financial reports, estimates that the insurance industry’s net income after taxes in 2007 will be $65 billion dollars, a small decrease from the previous record of $67.6 billion set in 2006, but still a large jump over the 2005 net income of $48.8 billion.
An examination of the full report, available online at: http://www.consumerfed.org/pdfs/2008_INSURANCE_RELEASE_FINAL.pdf and indicates a number of startling facts about the recent success of the insurance industry:
• The insurance industry enjoyed record profits in 2004 and 2005, despite significant hurricane activity.
• In recent years, insurers have sharply increased premiums for homeowners and commercial insurance policies, while reducing or eliminating coverage for thousands of Americans in costal areas.
• Insurers are seeking additional subsidies from Congress for catastrophe insurance.
• Consumers have experienced a drastic drop in the amount of claims payouts.
• In the past five years, the insurance industry has enjoyed record level profits, and record low losses. Consider that the industry’s net income (post-tax) in 2003 was $31.2 billion dollars. In less than five years, this number has more than doubled to $65 billion dollars.
As always, consumers need to remember that despite what they see in the news, and on television commercials, insurance companies (even their own insurance companies that claim to be looking out for them) are companies in the business of making a profit: given that the insurance industry is experiencing record profits, it is clear that these companies are making these profits at the expense of their individual consumers, as well as at the expense of those who dare make a claim for insurance after an accident, injury or loss.
Insurance companies will fight to protect their profits, and their bottom line and do not care who gets in their way. Consumers and those with claims against these insurance companies need someone in their corner, fighting for their rights. The attorneys at Goldberg, Finnegan and Mester fight insurance companies on a daily basis for the rights of the individuals we represent.
Friday, December 21, 2007
Insurance Companies Should Not Be Making Medical Decisions
By Mark Schofield, Attorney at Law
“To make health care more affordable and accessible, we must pass medical liability reform now. And in all we do to improve health care in America, we will make sure that health decisions are made by doctors and patients, not by bureaucrats in Washington, D.C”
-President George W. Bush, Acceptance Speech to the Republican National Convention, September 2, 2004.
Proponents of medical malpractice reform, or “tort reform” as it has become commonly known, argue that medical malpractice lawsuits, and “Plaintiff attorneys,” are to blame for the current state of disrepair in the American Health System. These proponents argue that by passing medical liability reform, they will create a system where doctors and patients make health decisions, not bureaucrats in Washington.
Everyone believes that medical decisions are best made by doctors and their patients, however, it isn’t “bureaucrats in Washington” that stand in the way, rather, it’s often the insurance company and their accountants. Consider the story of Natalee Sarkisian.
Ms. Sarkisian, a 17 year old California teenager battling leukemia. She had received a bone marrow transplant from her brother, however, she developed a complication which led to liver failure. Her doctors at the University of California – Los Angeles determined that she needed a liver transplant, and sent a letter to CIGNA Healthcare on December 11. CIGNA Healthcare provided health insurance for Ms. Sarkisian.
CIGNA denied payment for the procedure, terming it too “experimental.”
On Thursday, December 21, 2007, around 150 individuals, including members of Ms. Sarkisian’s family, friends and some nurses who attended to her, protested this decision at CIGNA’s Glendale office. Hours later, in an e-mail statement CIGNA reversed its decision. “CIGNA HealthCare has decided to make an exception in this rare and unusual case and we will provide coverage should she proceed with the requested liver transplant.”
Unfortunately, the decision was not made in time. Ms. Sarkisian passed away at 6 p.m. on Thursday, December 21, 2007.
Medical decisions should be made by doctors and their patients. They should not be overruled by insurance companies more concerned about a bottom line. Our team of medical malpractice lawyers fight for patient rights and hold insurance companies accountable for the decisions that they make.
http://www.nbc10.com/health/14903904/detail.html?dl=mainclick
“To make health care more affordable and accessible, we must pass medical liability reform now. And in all we do to improve health care in America, we will make sure that health decisions are made by doctors and patients, not by bureaucrats in Washington, D.C”
-President George W. Bush, Acceptance Speech to the Republican National Convention, September 2, 2004.
Proponents of medical malpractice reform, or “tort reform” as it has become commonly known, argue that medical malpractice lawsuits, and “Plaintiff attorneys,” are to blame for the current state of disrepair in the American Health System. These proponents argue that by passing medical liability reform, they will create a system where doctors and patients make health decisions, not bureaucrats in Washington.
Everyone believes that medical decisions are best made by doctors and their patients, however, it isn’t “bureaucrats in Washington” that stand in the way, rather, it’s often the insurance company and their accountants. Consider the story of Natalee Sarkisian.
Ms. Sarkisian, a 17 year old California teenager battling leukemia. She had received a bone marrow transplant from her brother, however, she developed a complication which led to liver failure. Her doctors at the University of California – Los Angeles determined that she needed a liver transplant, and sent a letter to CIGNA Healthcare on December 11. CIGNA Healthcare provided health insurance for Ms. Sarkisian.
CIGNA denied payment for the procedure, terming it too “experimental.”
On Thursday, December 21, 2007, around 150 individuals, including members of Ms. Sarkisian’s family, friends and some nurses who attended to her, protested this decision at CIGNA’s Glendale office. Hours later, in an e-mail statement CIGNA reversed its decision. “CIGNA HealthCare has decided to make an exception in this rare and unusual case and we will provide coverage should she proceed with the requested liver transplant.”
Unfortunately, the decision was not made in time. Ms. Sarkisian passed away at 6 p.m. on Thursday, December 21, 2007.
Medical decisions should be made by doctors and their patients. They should not be overruled by insurance companies more concerned about a bottom line. Our team of medical malpractice lawyers fight for patient rights and hold insurance companies accountable for the decisions that they make.
http://www.nbc10.com/health/14903904/detail.html?dl=mainclick
Sunday, November 25, 2007
Medtronic Recall Costing Medtronic Millions
The recall of Medtronic's Sprint Fidelis leads is costing Medtronic millions of dollars already. The obvious and immediate cost to the company is due to the fact that medical professionals and the public will lose confidence in the company and stop using their products. It has been reported that the October 15 recall has already had a negative impact on sales of $130 Million Dollars. When heart patients and cardiologists lose confidence in the Medtronic product, they will look at competing products and/or consider foregoing getting a defibrillator.
There will also likely have to be payouts to the thousands of patients who have the defective leads implanted in their heart. We are representing these claimants in these claims against Medtronic. Although the payouts will not occur in 2007, Medtronic and its shareholders are well aware that these payouts will need to be made in the near future. Furthermore, legal fees and attorney fees are already being incurred by Medtronic. Individual Personal Injury Lawsuits have already been filed in Minneapolis and Puerto Rico. There will likely be class action consumer fraud lawsuits as well. A shareholder lawsuit has been filed against Medtronic for witholding information regarding the defects in the United States District Court for Minneapolis.
It seems that Medtronic may have known that the leads were defective well before the October 15, 2007 recall was announced. If this is true, then its deplorable that Medtronic continued to allow doctors to implant the device into patients. The good news is that the legal process will allow us to get to the bottom of what Medtronic knew and when they knew it. The civil justice system allows for discovery of this information through exchange of documents, interrogatories and depositions. The lawyers at Goldberg, Finnegan & Mester will fight to make sure that patients injured as a result of having a defective defibrillator are treated fairly and are adequately compensated for their injuries.
There will also likely have to be payouts to the thousands of patients who have the defective leads implanted in their heart. We are representing these claimants in these claims against Medtronic. Although the payouts will not occur in 2007, Medtronic and its shareholders are well aware that these payouts will need to be made in the near future. Furthermore, legal fees and attorney fees are already being incurred by Medtronic. Individual Personal Injury Lawsuits have already been filed in Minneapolis and Puerto Rico. There will likely be class action consumer fraud lawsuits as well. A shareholder lawsuit has been filed against Medtronic for witholding information regarding the defects in the United States District Court for Minneapolis.
It seems that Medtronic may have known that the leads were defective well before the October 15, 2007 recall was announced. If this is true, then its deplorable that Medtronic continued to allow doctors to implant the device into patients. The good news is that the legal process will allow us to get to the bottom of what Medtronic knew and when they knew it. The civil justice system allows for discovery of this information through exchange of documents, interrogatories and depositions. The lawyers at Goldberg, Finnegan & Mester will fight to make sure that patients injured as a result of having a defective defibrillator are treated fairly and are adequately compensated for their injuries.
Friday, November 23, 2007
Helping the Uninsured--New Maryland Law is a Step in the Right Direction
The Maryland General Assembly passed a new law that will provide health insurance by expanding Medicaid to about 140,000 Maryland residents who were previously uninsured. This is a huge step in the right direction. It is estimated that about 14% of Maryland residents do not have health insurance. While this new law only provides coverage to a fraction of these people, it is a step in the right direction and it shows that the O'Malley Administration and the Maryland legislature are aware of the problem and are actively taking steps to address it. Of course the bill was opposed by big business groups. This is no surprise. The bill can be seen at: http://mlis.state.md.us/2007s1/bills/sb/sb0006e.pdf
Many of our clients do not have health insurance and this is a true tragedy. These people are unable to get regular checkups (and necessary medications), and when they do get sick or have an injury that requires them to go to the hospital emergency room, they are financially wiped out by the bills. We fight for the uninsured. If people without health insurance are injured as a result of someone else's neglgigence, we pursue legal claims against those repsonsible so as to make sure that our clients can get the care that they need, and pay for the care without becoming financially devastated. We work with many medical providers who agree to provide care to our injured clients with the understanding that they will not get paid until the legal case is resolved.
If you or your family members have been injured in an accident that was not your fault, call us for a free telephone consultation at 301-589-2999.
Many of our clients do not have health insurance and this is a true tragedy. These people are unable to get regular checkups (and necessary medications), and when they do get sick or have an injury that requires them to go to the hospital emergency room, they are financially wiped out by the bills. We fight for the uninsured. If people without health insurance are injured as a result of someone else's neglgigence, we pursue legal claims against those repsonsible so as to make sure that our clients can get the care that they need, and pay for the care without becoming financially devastated. We work with many medical providers who agree to provide care to our injured clients with the understanding that they will not get paid until the legal case is resolved.
If you or your family members have been injured in an accident that was not your fault, call us for a free telephone consultation at 301-589-2999.
Thursday, November 22, 2007
Medtronic Sprint Fidelis Lead Recall
Medtronic recalled the Sprint Fidelis leads that connect defibrillators to the heart. There are approximately 235,000 patients in the United States who have cardiac heart defibrillators with these recalled leads. Our law firm is representing these individuals in claims against Medtronic. Call us at 888-213-8140 for a free telephone consultation.
Some people with the Sprint Fidelis leads have already had serious complications, and for those individuals, the damages that they have suffered are obvious. Many have had unnecessary shocks and have actually had to have their leads replaced. For other individuals with the fractured Sprint Fidelis leads, their heart defibrillator will not work as it is supposed to, and it will fail to save their life. These people could suffer a heart attack that would not have occurred if the defective leads were not implanted. We believe that even individuals who have not yet had any complications who have the Sprint Fidelis leads have a legal claim against Medtronic as well (they have a defective product that has been recalled attached to their heart, and nobody knows how the defective leads will hold up over time).
The recalled model numbers are: 6930, 6931, 6948 and 6949.
If you or one of your loved ones has a defibrillator call 888-213-8140 for a free telephone consultation.
Some people with the Sprint Fidelis leads have already had serious complications, and for those individuals, the damages that they have suffered are obvious. Many have had unnecessary shocks and have actually had to have their leads replaced. For other individuals with the fractured Sprint Fidelis leads, their heart defibrillator will not work as it is supposed to, and it will fail to save their life. These people could suffer a heart attack that would not have occurred if the defective leads were not implanted. We believe that even individuals who have not yet had any complications who have the Sprint Fidelis leads have a legal claim against Medtronic as well (they have a defective product that has been recalled attached to their heart, and nobody knows how the defective leads will hold up over time).
The recalled model numbers are: 6930, 6931, 6948 and 6949.
If you or one of your loved ones has a defibrillator call 888-213-8140 for a free telephone consultation.
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