How Insurance Companies Make Money

J.P. Gonzalez-Sirgo
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Founder of J.P. Gonzalez-Sirgo, P.A.

Insurance companies make the majority of their income from their return on investment of premiums paid by policyholders similar to the way banks use deposits to make investments that yield a return.  This means that the amount of profits earned by an insurance company is directly related to the amount of money that can be invested.  Insurance carriers can earn 8 percent or more per year simply by delaying payment of claims.  Insurers can earn even more by denying or lowballing claims.  An insured maximizes the chances they will receive the full value of their claim by understanding their rights and obligations under their policy.  While the insurance company drafts the policy, interprets its terms, determines the value of the claim, and controls the money to pay the claim, there are ways policyholders can level the playing field.  The most important way to avoid being at the mercy of an insurance company is to know your rights.  

You can reach Miami Insurance Claims Lawyer J.P. Gonzalez-Sirgo by dialing his direct number at (786) 272-5841, calling the main office at (305) 461-1095, or Toll Free at 1 (866) 71-CLAIM or email Attorney Gonzalez-Sirgo directly at [email protected].

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