Aug 3 2012 0

Signs of Bad Faith Insurance Practices

Everyone knows dealing with insurance companies can be quite a headache. However, when you have been a good, loyal, dependable customer, you assume the carrier will hold up their end of the bargain. Yet, many insured individuals find themselves at war when trying to recover the money to which they are entitled.

Unfair, illegal or unethical insurance business practices are known as “insurance bad faith.” Insurance bad faith may deny or greatly reduce your benefits. However, you can fight back. Some signs of bad faith insurance practices include:

Delaying, discounting or denying payment without a reasonable basis
Failing to perform a thorough investigation of a claim
Ignoring a claim made by the insured
Using fraudulent procedures or investigation methods
Losing or ignoring paperwork submitted by the insured, doctors, attorneys or anyone related to the claim
Failing to promptly settle a claim
Failing to acknowledge a submitted claim
Changing the terms of a policy without the holder’s consent
Advising the insured not to hire an attorney

Insurance agents often try to pay the least amount possible to the policyholder. Do not accept a first offer. Consult with an Oklahoma City insurance attorney when dealing with insurance companies – a lawyer will have the knowledge and experience to handle a bad faith insurer.

In some cases, an insurance company might be acting reasonably and responsibly. However, thousands of Americans become victims of bad faith insurance settlement practices. Do not let the big name companies bully you. Bad faith insurance attorneys in Oklahoma City help you get the insurance compensation you deserve.

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