Headquarters: Boston, MA
Profits: 1.5 billion
Assets: 94.7 billion
- Adopted the same strategy from consulting giant McKinsey & Co. as Allstate and State Farm, two of the worst insurance companies, that supports using the three D’s: deny, delay, and defend, when dealing with policyholders.
- The company maintains a high level of complaints from short-changed victims, and is facing litigation from its own vendors for poor claims processing and an increase in lawsuits.
- Liberty Mutual has pulled out of many states, abandoned policyholders, and along with their competitors, was responsible for leaving more than 3 million homeowners stranded.
- Under suspicion of massive corporate fraud for colluding with other brokers by artificially inflating rates and tricking the clients into thinking they were getting a good deal when they actually weren’t.