Lawsuits Brought Against MassMutual Insurance
Have you been in a serious accident in which either you or the at-fault has been covered by the MassMutual Insurance Company? If you have exhauseted all other options and are now forced to take legal action, it is important to research how other people and companies have successfully navigated insurance claims and settlements with specific insurance companies in order to achieve a just settlement or court outcome. This will provide you with guidelines to avoid repeating similar mistakes others have made when legally dealing with insurance companies. Research can provide insight as to which strategies and actions that might affect the value of your settlement. It also helps highlight crucial legal ideas and avenues that have historically helped win lawsuits against major insurance companies such as MassMutual Insurance.
Insurance companies are renowned for witholding the release of settlement funds until the absolute last possible second. This questionable practice is implemented by an extremely high percentage of insurance companies. It is designed as both a money-making and a money-preserving technique. Major insurance companies usually have access to tens of billions of dollars due to high volume revenue and cash flow. Similar to banks, they invest these funds in order to amplify their profits. Even if they are required to pay a settlement, they will hold the money as long as legally possible in a leveraged effort to increase their own profits through the interest they earn on their investments.
In addition to delaying the disbursement of settlement funds, most insurance companies implement many of the following strategies to cut costs and generate profit:
- Nickel and dime smaller individual clients with various charges with the knowledge they cannot afford to investigate their legal options.
- Present clients with a very small initial settlement offer, as many policy holders do not realize they do not have to accept the insurance company’s first offer.
- Wait until the last possible week to disperse funds, as some negotiations can last well over a year.
- If you have sustained personal injuries that will be permanent, it is important to use an expert trial attorney.