Alarming Practices of Insurance Companies
In this video, Attorney Robert Maranto discusses the new alarming practices of insurance companies that are giving settlement offers through text, email, and letter. Which are barring them from having an injury case against them.
Click Here to Sign Our Petition to Stop These Deceptive Practices
I want to shed light on a troubling strategy currently employed by certain unethical insurance companies. Our firm strongly opposes this practice. We’ve recently composed a letter directed to all state legislators and Governor Hochul, urging an immediate halt to this approach. In my opinion, it’s a reprehensible and appalling tactic. While you can find the full letter accessible via a provided link, allow me to summarize the situation.
After accidents, insurance companies reach out to injured individuals, offering compensation for the inconveniences caused. They present amounts like $500, $1000, or $1500, framing it as a gesture of goodwill. Many individuals, viewing this as a positive offer, may accept it.
Here’s the typical scenario: Insurance companies will either text or email a link for individuals to accept the offered compensation. What many don’t realize is that signing that document acts as a final release of all claims against the insurance company. Essentially, once signed, the case is often closed.
Recently, I encountered a case involving a man in a severe head-on car accident. The insurance company offered him $500 and had him sign a document. Unfortunately, he was confused about the legal implications and didn’t fully understand the rights he was surrendering. It later emerged that he had a significant arm injury requiring extensive surgical intervention, potentially worth hundreds of thousands of dollars in compensation. However, by accepting the initial $500 offer and signing the document, his case was effectively closed. The details of conversations and agreements between the client and the insurance adjuster remain undisclosed to those outside that circle.
The troubling aspect is that we’re unaware of the communications between the insurance adjuster and the individuals. However, the release typically includes a clause stating that the signer confirms no other promises or representations were made to induce them into signing it, effectively absolving the insurer of further obligations. This practice is egregious.
Here at Andrews, Bernstein, and Maranto, we’re taking the lead in addressing this issue. We’re dedicated to ending this exploitation. You’re encouraged to review the letter we’re sending out, and we hope others will join us in our efforts to prevent insurance companies from exploiting individuals in New York State.