FAIR DEALINGS
How does an insurance company make money? Simply put to make a profit the company collects more in premiums than it pays out in claims. They have motivation to delay payment of claims and deny other claims. Granted, not all claims are valid and the insurance company does have the right to deny them, however; in some cases the insured has a valid claim and is denied. In these instances consumers should retain legal counsel to enforce their rights under a policy issued by one of these companies.
For example, if the insurance company for someone who has caused you personal injury or an UIM (uninsured motorist) carrier refuses to pay a practical value of your claim, you need to consult competent legal counsel and this is very important- don’t delay.
An insurance policy is a contract where the insurer agrees to indemnify or pay the insured a specified amount of money or benefit upon loss or judgment such as a liability claim against you. If the insurance company fails to pay losses (failure to indemnify), fails to pay a judgment, or fails to defend the insured, the insured may retain an attorney and, if required, bring legal action against the company for breach of contract.
The insured or in some cases the beneficiary may bring suit against the insurance company in many situations, such as: breach of good faith and fair dealing, interference with business relations, or intentional infliction of emotional distress. The insured may bring legal action against an insurance company who misrepresents them, or fraud.
Generally, the insured, must file proof of loss and /or notice of loss first with the insurance company before bringing any legal action. If successful, the insured may recover both prejudgment interest and attorney fees.
Tags: California Disability Attorney, California Insurance Attorney
California Disability Attorney California Insurance Attorney
