Sarasota Insurance Bad Faith Attorney
There are two key principles that every for-profit business must adhere to: making a profit and producing or offering something of value to customers. If either one of those are taken away, the business will fail. An insurance company is no different. It must be able to satisfy its duty to its shareholders, while also satisfying its duty to its insured customers. Valid claims must be be paid out to or on behalf of the insured, yet when invalid claims come up, the insurance company has a duty to defend its bottom line for its shareholders as well as for its continued existence for all of the company’s other customers. All claims need to be investigated at a high level to ensure that appropriate benefits are paid only when liability and coverage are clearly defined. The experienced Sarasota insurance bad faith Attorneys of HD Law Partners represent insurance carriers in all types of insurance coverage disputes including defense of bad faith claims, defense of extra-contractual liability, and good faith disputes of liability, coverage, or damages.
Coverage Disputes
We deal with first and third party, as well as subrogation claims disputes. The attorneys of HD Law Partners assist clients during filing through to the the appeals process in various types of insurance lines. We are experienced in bodily injury, commercial liability, uninsured motorists, homeowners, and other types of property damage claims. In order to determine whether coverage exists, we look at all possible scenarios and information, including:
- The good or bad standing of the policyholder;
- Whether or not the policyholder complied with all terms (proof of loss and timely notice of claim); and
- The applicability of the policy coverage to the claim.
We offer the following services and advice to our clients: risk management assessments, loss mitigation, coverage, trial strategies and exposure potentials, and possible values of settlements.
Extra-Contractual Liability
When liability is clear and an insurer refuses to settle, or when the other party has offered a reasonable settlement within policy limits and the insurer turns that offer down, they can be setting themselves up for more significant losses. These losses can exceed policy limits if the insurer loses at trial.
Sarasota Insurance Bad Faith Defense
Implied faith and fair dealing is an obligation of contractual law, holding both parties accountable to fair and honest discord. When the implied covenant of good faith and fair dealing is violated by an insurance company, or when the policyholder feels that the duty has been violated, the insurance provider may be sued for an additional sum on top of the initial claim. Many courts have different definitions of bad faith. For example, according to the American Bar Association, bad faith can be construed as “subjective evil intent, or conscious wrongdoing of the insurer,” it can be the reckless ignoring of the policyholder’s rights, and it can even be defined as simply refusal to pay a claim “when there is no reasonably arguable basis to deny.”
The HD Law Partners Sarasota Insurance Coverage/Bad Faith Attorneys are here to assist you in defending claims and assessing settlement values. Reach out to us today for immediate assistance.
