How would you like to have net income (revenue – expenses) of $978 MILLION dollars? Not for a year, but just one quarter of the year!! Well, if you’re the Allstate Corporation, you could do that.
Recently, Allstate Corporation’s President & CEO announced that revenues increased $9 BILLION dollars in the third quarter and that net income was $978 MILLION dollars. Wow, they’re right, there is an insurance crisis–the insurance companies are making TOO much money!!
As a personal injury attorney, I deal with Allstate Insurance Company on a nearly daily basis. The company almost always under-evaluates an injured person’s claim after a car accident. The company minimizes the impact a low-property damage car accident can have on a human’s body despite what science says. Allstate, like many other insurance companies, simply put profit over people. This is obvious when they are reporting nearly a BILLION dollars in net income in just 3 months!
The general public needs to understand that the insurance companies are making too much money while those injured in car accidents are struggling to pay their mortgage because their injuries from the car accident prevents them from returning to work.
I encourage you to tell five people you know about Allstate’s three-month net income figure. Maybe they will tell others and we can do something about insurance companies putting profit before people!