Bad faith insurance claims settlement practices are actually more common than you think. According to UPCounsel, insurance bad faith is a legal term used exclusively in the United States when discussing acts of bad faith by an insurance party.
By law, insurance companies are required to act in good faith when dealing with their policyholders and when they violate their duty then they have committed bad faith insurance. If this happens, the policyholder can sue the insurance company for breach of contract. They can also ask for assistance from other firms that offer property claims services.
What is an example of bad faith insurance claims?
- When an insurer fails to investigate a claim right away
- When an insurer intentionally delays payment
- When an insurer denies the policyholder of their rightful benefits
- When an insurer translates the policy in vague and unreasonable terms, intentionally deceiving and confusing the policyholder
- When an insurer refuses to reimburse the claimant of the entire amount that they deserve to receive
We buy insurance for peace of mind in the future. We trust our insurance company to provide support when the time comes. Unfortunately, there are times when insurers refuse to pay the fair and adequate compensation when filing for a claim.
Many companies offer property claims services to policyholders of property insurance, which involves homeowner’s insurance, commercial or business insurance or even renters insurance. In the event that an insurance company will act in bad faith by denying you a valid and legitimate claim for damage to your home or property, a credible and trustworthy property claims manager in Arkansas can help you pursue your reimbursement and compensation.
For property claims in Arkansas, Action Claim Service is a claims management company that has been providing professional insurance claims adjusting resources since 2004.
In addition to our professional claims adjusting resources, our large and complex loss services are available nationwide, throughout the entire Southeast and Midwest United States.
We believe in hiring only the kind of people who will go the extra mile for each and every client to ensure long-term relationships through favorable results on all claims that we handle. The success of our clients is our success.
Call us today for a consultation!