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Fdazar > Insurance Bad Faith

Insurance Bad Faith Can Affect Anyone

 

Insurance bad faith is not a myth, and no one is impervious to insurance bad faith. We have helped our clients collect millions of dollars from insurance companies for unreasonable delaying or denying of their insurance claims. Contact us today to get started on getting your life back to normal, and receiving the compensation you deserve.

Denied Coverage

What can you do if your insurance company denies your claim?

After an accident, the last thing you want to deal with is an insurance company, especially one that has denied your claim. You’ve lost your home, your belongings, maybe your car has been totaled, and you may be losing your ability to cope. You want to believe that your insurance company is there to support you, just as you have paid your premiums on time, and filed claims in a timely manner, but that just isn’t the case. Insurance companies are in the business to make money, and their best interest isn’t necessarily your best interest. So how can you dispute what your insurance company is telling you?

When your insurance company denies your claim, with or without a reason, it is a surprise to say the least. This is the reality for many people, and when this happens, especially when you know you have a legitimate claim it is important that you secure legal support to help you in your battle against bad faith insurance companies. Our insurance claim attorneys at Franklin D. Azar & Associates can help you do just that.

Win the fight against your insurance company

Your policy states that you are covered. You have paid all of your premiums on time, and may have never had to use it. When you go through such a devastating situation as a house fire, you need that insurance to be there. Why else would you pay them to insure your home? If your claim is denied, you can file a claim against your insurance company. If the compensation offered is not sufficient, and you feel you are being taken advantage of, you can file a claim. Our attorneys will help you identify if you have a claim..

Please fill out our contact form, or call us today at 800-716-9032. We are here to help, and we’re ready to join you in your fight!

Why do Insurance Companies have to pay my claim in a reasonable time period?

Simply put, under Colorado law, your Insurance Company has a duty to pay your claim in a reasonable time period. This has been defined in the Unfair Claims Settlement Protection Act. The purpose of the Unfair Claims Settlement Act is to set forth standards for the investigation and disposition of claims arising under policies or certificates of insurance issued to residents of Colorado.

Any of the following acts by an insurer, if committed in violation of Section 3, constitutes an unfair
claims practice:

  1. Knowingly misrepresenting to claimants and insureds relevant facts or policy provisions relating to coverages at issue;
  2. Failing to acknowledge with reasonable promptness pertinent communications with respect to claims arising under its policies;
  3. Failing to adopt and implement reasonable standards for the prompt investigation and settlement of claims arising under its policies;
  4. Not attempting in good faith to effectuate prompt, fair and equitable settlement of claims submitted in which liability has become reasonably clear;
  5. Compelling insureds or beneficiaries to institute suits to recover amounts due under its policies by offering substantially less than the amounts ultimately recovered in suits brought by them;
  6. Refusing to pay claims without conducting a reasonable investigation;
  7. Failing to affirm or deny coverage of claims within a reasonable time after having Not completed its investigation related to such claim or claims;
  8. Attempting to settle or settling claims for less than the amount that a reasonable person would believe the insured or beneficiary was entitled by reference to written or printed advertising material accompanying or made part of an application;
  9. Attempting to settle or settling claims on the basis of an application that was materially altered without notice to, or knowledge or consent of, the insured;
  10. Making claims payments to an insured or beneficiary without indicating the coverage under which each payment is being made;
  11. Unreasonably delaying the investigation or payment of claims by requiring both a formal proof of loss form and subsequent verification that would result in duplication of information and verification appearing in the formal proof of loss form;
  12. Failing in the case of claims denials or offers of compromise settlement to promptly provide a reasonable and accurate explanation of the basis for such actions;
  13. Failing to provide forms necessary to present claims within fifteen (15) calendar days of a request with reasonable explanations regarding their use;
  14. Failing to adopt and implement reasonable standards to assure that the repairs of a repairer owned by or required to be used by the insurer are performed in a workmanlike manner

If you have submitted a claim to your insurance company and they have delayed or denied your claim, and you feel that they have violated one of the above mentioned stipulations, please contact Franklin D. Azar & Associates today. Fill out our contact form, or call 800-716-9032 today.

Our Insurance Bad Faith Team

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