Insurer Bad Faith
We purchase insurance for our cars, homes, health, and even for our very lives because we want to be protected from financial devastation. Month after month, all of us pay premiums with the faith that if something goes wrong, the insurance company will pay what is fair. Unfortunately, insurance companies are often more interested in increasing profits than in doing the right thing. Insurance companies routinely deny legitimate claims, knowing, full well, that most people do not understand their rights and will simply give up.
When an insurance company fails to meet the obligations set forth under a given policy or acts unreasonably in denying a claim or coverage, the claimant has the right to sue for bad faith. Bad faith is an area of the law that requires an insurance company to keep its agreed upon obligations to its policyholders. If the premiums have been paid and a claim against the policy is made, the insurance company’s duty is to settle that claim in a reasonable amount of time for a reasonable amount to which the policyholder is entitled. If the insurance company fails to do so, the policyholder may have a bad faith claim.
Other than unreasonable payment delay and unreasonable payment offer, other examples of insurers exercising bad faith are unjust policy cancellation, abusive claim processing, coverage denial, a delay in coverage, failure to defend policyholder (in a suit brought by a third party), improper investigatory practices and illegitimate claim denial. There is no Federal Government policy regulating bad faith nationally. Each individual state has its own laws protecting policyholders. That’s why it is paramount to hire a Florida-based law firm.
If you believe that an insurance company has denied your legitimate claim, refused you coverage, unjustly cancelled your policy or otherwise acted unreasonably, you can file a bad faith insurance claim. Contact Kerrigan Estess Rankin McLeod & Thompson today to handle your bad faith case, always available 24/7.
Insurer Bad Faith examples:
Abusive Claim Processing
Coverage Denial or Delay
Failure to Defend
Improper Claim Investigation
Illegitimate Claim Denial
Unjust Policy Cancellation
Unreasonable Payment Delay
Unreasonable Settlement Offer
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