Bad faith insurance claims may be present if the insurance company acts in a manner to avoid or reduce payment of the claim. This is considered acting in bad faith, and insurance companies may be penalized for such behavior. If you suspect that the insurance company has handled your claim in such a way, contact a Denver lawyer for insurance claims.
Filing Bad Faith Insurance Claims
A lawyer will assist you with the process. Some insurance companies will settle out of court, either through arbitration or mediation. If the company refuses to settle, the case will go to court, and a judge may award damages. When a company fails to pay a client as promised by the terms of its agreement, it is not acting in good faith. Courts look at this harshly and may award the client punitive damages to prevent the insurance company from behaving in this manner in the future.
Punitive damages can be huge. In some cases, a judge may award multi-million dollar damages for bad faith insurance claims. Although there are many instances of extremely high awards paid, it is important to remember that each case is different. A Denver lawyer for insurance claims can advise you of what to expect.
Examples of Bad Faith
Bad faith may take on many forms. In some cases, it may simply be considered failing to reveal all necessary information to the claimant, such as the policy limits. Delaying communications or not responding to requests or claimant communications may also be considered bad faith on behalf of the insurance company.
Denials that are poorly based may warrant speaking with a Denver lawyer handling insurance claims, too. If the insurance company denies the claim and does not provide an explanation or does not respond to requests for an explanation as to why the claim was denied, this may be considered acting in bad faith, too.
Failure to negotiate a settlement, not providing an answer as to whether the claim is denied or accepted, and other practices may be considered in bad faith, too. Generally, not acting in a fair manner with the claimant can constitute filing a claim of bad faith against the insurance company.
See a Denver Lawyer for Insurance Claims
If you are tired of dealing with bad faith insurance claims, contact a Denver lawyer for insurance claims at the Law Office of D.J. Banovitz. Contact his office today at (303) 300-5060 and request your free booklet, 7 Costly Mistakes that can Ruin Your Colorado Injury Case.