Insurance Lawyers specialize in the law that governs the business of insurance. Although companies are regulated by the Department of Insurance in each state, they often try to skirt the rules, deny valid claims and manipulate claimant files to appear that they are in compliance with the law. Most commonly, insurance lawyers represent people who have had an insurance claim denied or who were subjected a company’s act of bad faith, as well as insurance fraud.
Companies specialize in many different types of insurance. Although some insurance, like car insurance, is required by law, others are optional. It is important to get familiar with the options to protect yourself from liability, even if the insurance is optional. Below are example of the different types of insurance.
This type of insurance is also known as also called professional indemnity insurance (PII) or errors & omissions (E&O). It protects professionals whose service involves giving advice from negligence or malpractice actions brought by clients. The most common professionals protected by this insurance are:
Denial of Claim: Reasons that an insurance company may deny a claim include, but are not limited to:
Bad Faith: Insurance companies are required by law to deny or approve claims in good faith. However, it is very common that insurance companies will deny the claim in bad faith. This is a legal term and that will result in a civil claim against the insurance company. Companies have been liable for bad faith for delay in handling claims, lack of investigation, refusal to defend a lawsuit, refusal to make a reasonable offer to settle and the irrational interpretation of the insurance policy.
States vary in their state laws regarding insurance and what constitutes bad faith. If you find yourself in a situation where your claim is denied or you suspect the insurance company is acting in bad faith, you should contact an experienced insurance attorney as soon as possible.
Last Modified: 10-13-2014 10:46 AM PDTLaw Library Disclaimer
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