Insurance Corporation Profits for 2010

The top 5 insurance corporations made approximately 10 billion dollars in after tax profit in 2010. Not many people are aware of the enormous profits the insurance industry is allowed to make off the American public. Americans are required to purchase automobile insurance, or face prosecution. This mandate has allowed the national insurance industry a unique opportunity to cash in on the American public.

As a personal injury lawyer, I have witnessed insurance companies take advantage of injured victims, despite years of timely payments for their insurance premiums. As these corporations have steadily grown from year to year, there appears to be no end in sight. The following are the after tax profits made by the largest insurance companies operating in the United States for the 2010 tax year:

COMPANY NAME/2010 PROFIT/FORTUNE 500 RANKING (x/500)

  • Traveler’s Insurance/$3.6 billion/98
  • United Services Automobile Association/$3 billion/132
  • AFLAC/$1.5 billion/130
  • Liberty Mutual/$1 billion/71
  • Allstate/$854 million/68
  • State Farm/$777 million/34
  • Nationwide/$716 million/118
  • Geico/$649 million/n/a
  • American Family/$257 million/344
  • Progressive/$212 million/n/a
  • (Source: CNNMoney.com)

The main concern with the growth of these corporations is the method through which they actually make a profit. An insurance company who insures drivers of motor vehicles must take in more money for premiums than they pay out to injured parties in any given year. This places the interests of injured parties in direct odds with the very people they believe will help them after sustaining an injury. After all, they paid for it, right?

The three methods an insurance company uses to increase revenue are as follows: 1) Increase the cost of premiums; 2) Increase the number of people purchasing premiums; 3) Decrease the money that goes out to pay claims for injured parties. It is crucial the population is aware of this inequity in order to reform the industry. Failure to recognize this growing issue will result in the continued suppression of the rights of injury victims by greed from the insurance corporations.

If you are injured as a result of the negligence of another person, a Missouri lawyer for personal injuries will help to level the playing field against the insurance giants. Please feel free to contact injury lawyer Christopher R. Dixon at 1.314.409.7060, or toll free at 855.402.7274.

Recent News

See What's Happening

  • 6 Ways to Lose a Dog Bite Insurance Claim
    Jun13

    6 Ways to Lose a Dog Bite Insurance Claim

    Insurance companies place unreasonable obstacles before injured victims. Let our dog bite lawyers move them. Dogs may be man’s best friend, but that doesn’t...
  • What is a Premises Liability Injury Case?
    May30

    What is a Premises Liability Injury Case?

    You may be able to win thousands of dollars in damages if you are injured on someone else’s property, such as slipping down a...
  • Rental Car Accident Claims & Insurance Tips
    May17

    Rental Car Accident Claims & Insurance Tips

    Millions of car accident injuries and 40,000 fatalities each year…and counting. Being in a car accident — or having a family member injured or...
  • When Should You Hire a Lawyer?
    May12

    When Should You Hire a Lawyer?

    Suffering a life-changing injury or losing a family member can be unfair and expensive. It’s also a good time to lawyer up. The St....
  • 100,000 Work Zone Accidents Per Year
    Apr30

    100,000 Work Zone Accidents Per Year

    Did you know there are more than 87,000 car accidents in construction zones every year? While the fatality rate is low, roadways under construction...
  • Motorcycle Fatalities Surge in 2018
    Apr19

    Motorcycle Fatalities Surge in 2018

    You are 29 times more likely to die in a motorcycle accident than a car wreck, totaling to about 5,000 fatalities per year. The...

Meet Christopher R. Dixon

Legal & Injury Representation St. Louis Deserves.

Results — that's what clients expect from Dixon Injury Firm. Chris brings years of personal injury law experience to the table. Based in St. Louis, his firm provides free consultations and contingency service to the high-caliber injury and liability legal arena. Tell us about your case and we'll show you how to win.

Recent Successes

  • Policy Limits Settlement

    Missouri Truck Accident

    $30,000.00 Settlement

    Missouri Car Crash With Minor Property Damage

  • $40,000 Settlement

    Missouri Low Impact Automobile Accident

    $40,000 Settlement

    Missouri Dog Bite

  • $45,000 Settlement

    Missouri Dog Bite

    $50,000 Settlement

    Missouri Auto Accident

  • $50,000 Settlement

    Missouri Car Accident Crash

    $65,000 Settlement

    Missouri Pedestrian Accident

Get The Representation You Need Today!

Reach out to Chris Dixon for personal injury, workers compensation, product liability, and other legal services for experienced, reliable counsel and representation in St. Louis.

Contact Us Today

Schedule a
Callback

 

Submit Your
Case Details

 
 

Have Questions?

We are available to chat live with you 24 / 7 if you have questions about your potential case.

Chat Live
No Thanks