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Category: Bad Faith Insurance

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Understanding the protection provided by D&O insurance – II

Mon Apr 17th, 2017 on     Bad Faith Insurance,    

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.

Specifically, we examined how the D&O insurance purchased by everyone from privately held firms and for-profit businesses to non-profit organizations and educational institutions is comprised of elements known as “Sides.” We’ll continue our examination of this topic in today’s post.

Understanding the protection provided by D&O insurance

Mon Apr 10th, 2017 on     Bad Faith 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.

While these business insurance policies safeguard the enterprise itself, it’s important to understand that this coverage does not extend to individual company officers, meaning they may be left personally exposed to financial losses stemming from a lawsuit.

Understanding insurance bad faith and other important issues – II

Fri Dec 9th, 2016 on     Bad Faith Insurance,    

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

Fri Dec 2nd, 2016 on     Bad Faith Insurance,    

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.

Helping hold insurance companies responsible for acting in bad faith

Tue Oct 25th, 2016 on     Bad Faith Insurance,    

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

Tue Dec 22nd, 2015 on     Bad Faith Insurance,    

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

Mon Dec 21st, 2015 on     Bad Faith Insurance,    

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.

Florida Supreme Court rules in Citizens bad faith case p3

Wed Jun 3rd, 2015 on     Bad Faith Insurance,    

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.

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