What A Bad Faith Insurance Lawyer Wishes You Knew

Simply defined ‘Bad Faith Insurance’ is when the insurance company attempts to evade the contract under which it is obliged to pay its policyholders.

An insurance company has to uphold certain duties towards its clients, if they avoid doing so, you can charge your insurance provider for acting in bad faith.

Duties An Insurance Company Has Towards Its Policy Holders

●       An insurer must undertake a thorough investigation of the client's claim and present their findings. This investigation should be carried out within a stipulated time period. Taking unreasonably wrong to present the findings can mean bad faith.

●       The insurer is responsible for paying the settlement agreement. This is referred to as the duty of indemnification.

●       The insurer must defend the policyholder against a claim. It is required of them to cover all defense costs.

According to some jurisdictions, the insurer must also offer a settlement when it is considered more advantageous to the policyholder.

How Does One Determine the Insurer Has Acted in Bad Faith?

A bad faith insurance claim is tricky waters. Different jurisdictions have different views on what constitutes a bad faith claim. A deft bad faith insurance lawyer can walk you through the process. If you face any of the following situations, it is likely that your insurance company is being shady, aka acting in bad faith.

●       Unreasonably Late

The most common example here will be an automobile accident claim. Suppose you have been involved in a motor accident; you file your claim to the insurance company. Ideally, the provider should correspond with you within 15-60 days. An unwarranted delay should be charged as bad faith.

●       Doesn’t complete an Investigation

If your provider is unable to conduct a fair investigation of your claim, you should hire a bad faith insurance lawyer. Sometimes the insurer will take an ungodly amount of time to arrive at the findings of the investigation, this too falls under bad faith.

●       Deceit and Fraud

While submitting a claim, the insurance provider is required by law to inform you of the paperwork, deadlines, and the associated nitty-gritty of the fine print. Failing to do so is chargeable under bad faith.

What Should You Do After?

In Oklahoma, the insured (or the policyholder) should be able to prove the following four elements in the courts -

●       The victim’s loss was covered by the policy and the insurance provider blatantly refused to handle the claim

●       The insurer’s inability to handle the claim was fueled by unreasonable circumstances.

●       The insurer’s handling of the claim was marked by a noted lack of good faith.

●       The insurance provider’s breach of duty was responsible for the damages sustained by the insured.

Reach Out to The West Law Firm

Our bad faith insurance attorneys have garnered experience over years and are aptly qualified to represent individuals wrongfully denied their insurance claim. We do not charge a penny until we have recovered your rightful compensation. Need help? Visit our website to contact us.

** Disclaimer: The above article does not imply a relationship between attorney and client, nor is it legal advice.