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Bad Faith Insurance Archives

Understanding the protection provided by D&O insurance - II

Last time, our blog began discussing how many businesses make the strategic decision to purchase directors and officers liability insurance, otherwise known as D&O insurance, to insulate their corporate leaders from liability for claims made against them while serving in this official capacity.

Understanding the protection provided by D&O insurance

It goes without saying that for any business, the primary objective is always improving the bottom line, meaning its net earnings. While this, of course, can be accomplished by simultaneously growing revenue and cutting costs, it can also be realized to a certain extent through defensive measures like securing the necessary business insurance policies.

Understanding insurance bad faith and other important issues - II

In a previous post, we discussed how the failure on the part of an insurance company to fulfill its duties to defend and indemnify may be grounds for an insurance bad faith lawsuit. Specifically, we discussed how aggrieved policyholders can pursue either first-party claims -- failing to settle claims in good faith -- or third-party claims -- failing to settle third-party claims within policy limits in good faith.

Rejection of benefits leads to bad faith insurance lawsuit

Many people in Florida and elsewhere do not question an insurer when it issues a denial of benefits. In many instances, however, insurers will interpret language in the policy to their own benefit. When they do that blindly and ignore their plain responsibilities to their insured customer, the company may be liable to the insured under the principles of bad faith insurance law.

Understanding insurance bad faith and other important issues

In general, insurance companies owe their policyholders the duties to defend and to indemnify, meaning the obligation to provide a legal defense against claims filed by third parties that fall within the scope of the policy and the obligation to make payments to their customers for valid claims, respectively.

Helping hold insurance companies responsible for acting in bad faith

While it can undoubtedly be painful to write out a check once a month, once every six months or once a year to cover an insurance premium, it can nevertheless grant you, the policyholder, much-needed peace of mind. Indeed, you might feel secure knowing that should the unexpected and the unfortunate occur, your best interests will be protected -- at least from a financial perspective.

2015? It was a very good year - for Citizens

Florida is a study in contradictions when it comes to insurance law. The state has led the nation in consumer protection actions, like the national mortgage settlement and, for that matter, established Citizens Property Insurance Co. to provide coverage to residents who would otherwise go without.

Breach of good faith duty underlies bad faith insurance claim

An insurer has a legal duty to act with good faith and fair dealing in every insurance contract. When that duty is breached, a tort and breach of contract action for bad faith insurance may be allowed, depending upon the facts of the case. As a general rule in Florida and elsewhere, the insurer will incur liability to the insured if it recklessly or in bad faith exposes the insured to liability in derogation of its contract of insurance.

We work to protect policyholders' rights in complex claim disputes

Insurance carriers would like us all to believe that they are our partners in adversity. Tree fell on your house? The calm insurance professional is right there to help you with your claim. Attacked by lions? Your insurance agent will teleport you to safety. Aliens destroyed your vacation home? Don't worry, you're covered!

Florida Supreme Court rules in Citizens bad faith case p3

We are finishing up our discussion of the recent Florida Supreme Court decision regarding bad faith claims against state-backed Citizens Property Insurance Corp. Again, an insurance company that puts its own interests first -- ahead of a policyholder's interest -- is acting in bad faith. The rule only holds for private insurers, though, and Citizens is a government entity. Under the doctrine of sovereign immunity, as well as state law, Citizens cannot be sued.