
Murders usually stoke a rush of sympathy for the victim and her/his family, as it should. But the murder of Brian Thompson, CEO of UnitedHealthcare, on a New York street on December 4, 2024, instead brought to the surface the simmering public anger against insurance firms which "deny, defend and depose" as a strategy to avoid claims to earn higher profits. In fact, these words were found on the bullet casings used by the assailant who has now been caught.
Thomson led the largest health insurance firm in the United States (data from tinyurl.com/mrnszwj8) with 2023 revenues of almost $360 billion. Other than being the largest company, it is also known as the one with the highest claim denials, denying, as per ValuePenguin, 32% of all claims whereas the best company denied just 7% (data from tinyurl.com/dp74kw6a). Social media comments played on standard responses in customer care when one tries to reach a health insurance firm, with one person tweeting: "I submitted a claim for my condolences but it was denied". However, no amount of public anger, misplaced or otherwise, can ever justify the murder or the criminal intent behind it.
Closer home, data on health insurance claims in the Indian market has also put the issue centre stage. Data for 2023 from the Insurance Brokers Association of India (IBAI) shows some worrying claim trends for health insurance (report here: tinyurl.com/42mydkc8). There are two main inferences from the data. First, the public sector firms are far more consumer-friendly in terms of their claims record than private sector firms. Worse, a few private health insurers have very poor claims behaviour.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Toll Crosses 1,500 as Syria Ends Ops Against Loyalists of Assad
Syria's new authorities announced on Monday the end of an operation against loyalists of deposed president Bashar al-Assad, after more than 1,500 people including civilians, security personnel and pro-Assad fighters were killed in the worst violence since his overthrow.
Justice Gavai Cautions Against Integrating AI Within Judiciary
Supreme Court judge Justice Bhushan R Gavai on Monday emphasised the need for a cautious approach in integrating artificial intelligence (AI) within the judiciary, stressing that technology must serve as an aid rather than a replacement for human judgment.
Repeat Offenders May Lose Driving Licences
Stricter Action Suggested for Those Who Commit Three or More Offences Under Sections 184 and 185, MV Act
'Polythene bags, clothes clogged toilets'
Air India cited its internal probe based on objects found by crews who discovered the objects in the aircraft's plumbing system
HC seeks Centre's reply on pleas against UAPA
The Delhi high court on Monday directed the Centre to respond to a batch of petitions challenging the constitutional validity of certain provisions of the Unlawful Activities (Prevention) Act, or UAPA.
Two-thirds of ITR filers in FY25 had zero tax liability
Of the around 84 million people that filed income-tax returns in 2024-25 (up to December 31, 2024), 55.8 million had zero tax liability, government data showed, with only around a third of the filers paying tax.
Security Ties on Table at PM's Mauritius Visit
Mauritius is a key partner in the Indian Ocean and a gateway to Africa, Prime Minister Narendra Modi said on Monday as he began a two-day visit to the island country that is expected to deepen security and development cooperation between the two sides.
Israel's Halt to Food, Aid Deliveries Worsens Conditions in Gaza Strip
Israel's suspension of goods entering Gaza is taking a toll on the Palestinian enclave, with some bakeries closing and food prices rising, while a cut in the electricity supply could deprive people of clean water, Palestinian officials said.
IndusInd flags ₹1,530 cr lapses in derivatives portfolio
IndusInd Bank Ltd has flagged discrepancies worth about ₹1,530 crore in its derivatives account balances, with managing director and chief executive officer Sumant Kathpalia saying that the issue could have led the regulator to extend his term by only one year instead of three.
Can't award damages for wrongful custody while hearing bail pleas: SC
THE CASE AROSE FROM HC'S RULING, DIRECTING NCB DIRECTOR TO PAY COMPENSATION TO A MAN FOR \"WRONGFUL CONFINEMENT\"