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Miami Bad-Faith Insurance Attorney

Insurance claims can quickly become complex when there are multiple claimants, multiple insurers, excess damages, or punitive damages involved. While submitting insurance claims is a process and it takes time to reach a settlement, an insurance company who delays, denies, or underpays a claim is considered to be acting in bad faith, which is against the law. Dealing with an insurance claim while also handling the associated stressors can be overwhelming and many insurance customers simply accept what is offered after a claim has been reviewed. This approach can cost you in the long-term if the insurance company is acting in bad faith and assuming you will not notice. If you believe the insurance company may be trying to avoid their obligations and are neglecting to properly insure you, you need to speak to a Miami bad-faith insurance attorney at Pike & Lustig, LLP.

What is Considered Unfair Claim Settlement Practices in Florida?

Florida Statute 626.9541 outlines all of ways an insurance company can engage in unfair methods of competition and what deceptive practices are against the law. Bad faith laws apply to all types of insurance policies, although what the actual practices of deception are may vary slightly between them. An insurance company is unfairly settling claims if they:

  • Mislead others on the terms of the policy;
  • Fail to properly investigate the claim;
  • Fail to provide prompt and reasonable explanation as to why they denied or only partially accepted a claim;
  • Fail to pay the agreed upon benefits in a timely manner;
  • Fail to promptly notify the insured about what additional information is needed for the claim along with why it is necessary; or
  • Deny a claim without justification.

Some examples require proof that the insurance company regularly acts in bad-faith in their business practices. Proving this will take the skill of an attorney who handles insurance litigations.

Third-Party Bad Faith

According to the Florida Office of Insurance Regulation, Florida is one of five states that allows for third-party bad faith insurance actions against an insurance company. If an insured party has a suit against them, their insurance should defend them. Third-party bad faith is when the insurance company does not adequately defend and protect the insured party. This happens if they neglect to hire qualified legal counsel or fail to settle when the insurance policy covers the injured party. If you have a lawsuit pending against you and your insurance company is not holding up their end of the policy agreements, you could possibly have a reason to claim they are acting in bad-faith. Contact a knowledgeable bad-faith attorney to discuss the specifics of your case.

Contact the Miami Law Offices of Pike & Lustig, LLP About Your Insurance Claim

Bad faith suits are not subject to policy limits, which means there is a possibility for you to recover more than you were originally owed. Insurance companies do not like going to court over claims, but our experienced bad-faith attorneys at Pike & Lustig, LLP will fight on your behalf, even if it means going to trial at a federal court. Contact us if you believe your insurance company has acted in bad-faith.

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