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Broward Bad-Faith Insurance Lawyers
Unlike negligence, which is caused by carelessness, bad faith business practices are deceptive with purpose. Bad faith lawsuits are brought against insurance companies that fail to live up to a contract, which is what an insurance policy actually is -- an agreement made in fair and reasonable good faith. When a policy's terms are used to give the insurer an intentional advantage, a written promise is broken to the policyholder or claimant.
First- and Third-Party Bad-Faith Lawsuits
An insurer must fulfill its promises surrounding the injury, disability, death or damage done as a result of an accident, whether the promise is to the policy holder, or someone covered by the insured's policy. Under Florida statutes, first- and third-party bad faith lawsuits give those who have been deceived to settle for less - by their own insurer or someone else's - the opportunity to recover what they are rightfully due.[1]
Insurance Deception
Some insurance companies limit what they pay out in claims in order to remain profitable. Limitations in processing and policy settlement can unjustly affect the outcome for an insured.
Insurance companies may not:
- withhold policy or benefits information
- manipulate policy terms
- pressure, lie to or threaten an insured
- fail to promptly investigate a claim
- pay less than agreed policy terms
- deny a fair claim
When an insurance company is guilty of bad faith, victims may recover more than settlement costs. An insurer is liable for the emotional distress caused by unreasonable process delays, benefit denials and less-than-contracted settlements. If a breach of trust is deemed pernicious, punitive damages may also be awarded to prevent future acts of maliciousness by the insurer.
Broward County residents are protected when they disagree with an insurance company's decision to deny or underpay a claim. The law is on the side of those who enter into insurance polices in good faith.
The bad faith attorneys at Edward F. Holodak, P.A. represent first- and third-party claimants throughout Broward County, encompassing Coral Springs, Fort Lauderdale, Hollywood and Pembroke Pines.
http://www.leg.state.fl.us/Statutes/index.cfm