Tyler & Hamilton, P.A.
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Insurance bad faith claims

Insurance bad faith or insurance fraud can be defined as the mistreatment of consumers by their insurance companies. This usually occurs when insurance companies refuse to pay settlements according to the terms of their contract.

Insurance bad faith is more common than you might expect. It can take place through many different ways, the most common of which include the following:

• Unreasonable delay of payment.

• Offering less compensation than was stated on the policy.

• Denying the insured consumer the full set of benefits listed in the policy.

Generally, statistics are used to determine how much to pay out under specific circumstances. Then, if the statistics determine that it would ultimately be more profitable for the insurance company not to pay out what is owed, then the company does not pay. This means that the insured either do not get paid or have to take their insurance company to bad faith.

The damages an insurance company has to pay for bad faith may vary according to your jurisdiction. Usually, there are compensatory damages that would place you in the same position you would have been in had the insurance company paid according to its policies. Most states allow for punitive damages or damages that are intended to make an example of the insurance company that has violated its contract. In some states, the punitive damages are limited, but in others no limit is placed.

If you or someone you know has fallen victim to insurance fraud, then you might want to consider hiring an experienced attorney. An attorney would help you learn more about your rights and help you receive justice.

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