Good travellers insurance a myth?

After browsing through umpteen websites and dicussion forums I have come to a conclusion that there is no one good travellers insurance company. One thing that most of them guarantee is repatriation of remains taking care of lost baggage , passport etc. One thing for sure most people have had bad experiences with Indian Public sector insurance companies especially New India Assurance/Mercury.American companies and Indian private sector insurance companies seem to be what travellers prefer but then again there have been complaints about ATLAS a US company for not paying and TATA Aig about delayed payment after a year.The bottom line I believe is stay away from the Indian public sector companies and choose from a Indian private sector or US company and then hope and pray for the best.