Insurance Companies Acting in Bad Faith
Insurance companies that place their own interests above those of the policyholder are considered to be acting in bad faith. There are consequences for this, including punitive damages. When an insurer wrongly exposes its policyholder to an excess judgment, this can be considered acting in bad faith. We can help you not only receive coverage but also make a bad faith claim against the insurance company, when appropriate.
Orlando Insurance Claim Dispute Attorneys
At Ver Ploeg & Lumpkin, P.A., we have helped insurance policyholders resolve disputes with insurance companies for more than 15 years. We have extensive experience and knowledge of Florida laws when it comes to these disputes and also know how and when to take action if an insurance company is acting in bad faith. This includes situations where an insurance company wrongly refuses to settle the claim within the policy limits and ultimately exposes the policyholder to a judgment exceeding the policy limits. Let us help you maintain your rights as a policyholder and seek the coverage you deserve. Contact our Miami excess judgments lawyers as soon as possible to learn how we can help resolve your insurance coverage dispute.
Bad Faith Claim for Judgment Exceeding Policy Limits
Being faced with a judgment that exceeds your insurance policy limits can be catastrophic. If an insurance company had the opportunity to settle within policy limits and failed to do so, the company may have acted in bad faith and be liable for punitive damages.
For example, suppose a policyholder is involved in a car accident and is sued by the injured party. The injured party offers to settle for the policy limit of $100,000. The insurance company states the case is only worth $20,000 and ends up litigating instead of settling. The jury awards the injured party $600,000, which is way beyond the policy limits. The insurance company had the opportunity to settle within the policy limits and now has exposed their policyholder to an excess $500,000. This may be grounds for a bad faith suit against the insurance company, which then can be subject to punitive damages.
Contact Us for Florida Bad Faith Claims Attorneys
If you are involved in an insurance claim dispute, please contact us by e-mail or call 305-577-3996. From offices in Miami and Orlando, our lawyers represent clients from throughout Florida and across the nation.