I agree that insurers who unjustly deny claims should be punished. The problem I foresee here is that, like the insurers are saying, this will cause an increase in lawsuits, tying up the legal system and draining insurers of money and filling the pockets of attorneys. In a way, this could cause increased rates, which will then have those same people who wanted 3x the benfits crying because their rates increased! Again, I agree that the wrongdoers should be punished, but adding this incentive to sue will open the gates to many unfounded suits by someone trying to make a quick buck.
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I agree that insurers who unjustly deny claims should be punished. The problem I foresee here is that, like the insurers are saying, this will cause an increase in lawsuits, tying up the legal system and draining insurers of money and filling the pockets of attorneys. In a way, this could cause increased rates, which will then have those same people who wanted 3x the benfits crying because their rates increased! Again, I agree that the wrongdoers should be punished, but adding this incentive to sue will open the gates to many unfounded suits by someone trying to make a quick buck.