Arkansas Insurance Bad Faith Lawyers
Insurance law ensures that all insurance companies pay claims to their customers in good faith; insured individuals should be able to count on receiving payments properly, promptly, and willingly. It is illegal to practice insurance fraud and bad faith insurance by willingly denying, delaying, or discounting the payment of claims. In the United States, insurance companies are bound by this covenant to treat their policyholders fairly, meaning that insurers are under an obligation to pay any and all legitimate claims. However, if an insurance company breaches this, they are acting in bad faith. Arkansas insurance bad faith lawyers can help you fight against these insurers, helping you to receive the payments and benefits to which you are entitled.
3>How Do Insurers Act in Bad Faith?
States require that insurers respond to a claim within a certain period of time; those that breach their duty of fair dealing and good faith may be held accountable for their actions. If an insurer has wrongfully denied or delayed a claim, it may be insurance fraud. Invalid insurance companies often deny valid claims to make more money from the policyholders.
Arkansas insurance bad faith lawyers know that insurance companies can act in bad faith in any number of ways, including:
- Retroactively canceling your insurance policy
- Reclassifying your injury as an illness instead of an injury
- Weighing you down with pointless and unnecessary paperwork
- Allowing their medical adjuster to overrule your own doctor’s diagnosis or opinion
- Misusing claimants’ medical records
- Purposely targeting high-cost claims to deny
- Knowingly using the wrong definition of disability when they deny claims
- Instilling a two-year limitation on benefits for nervous and mental conditions
The policy is a signed contract between both you and the insurer that sets the conditions and terms and specifies the amount of compensation and coverage you are to receive. While you may purchase an insurance policy and assume that you will receive compensation from the insurer if you are injured or suffered a loss, this is not always true.
Some insurers will deny your claim even if they cannot explain their reasoning or prove they have a right to do so. These insurers often act in an attempt to wear you down; most believe that policyholders will let it slide, not knowing where to turn. Fortunately, Arkansas insurance bad faith lawyers can help you fight back.
Why Should You Seek a Bad Faith Lawyer
When an insurance company denies you payment for a valid claim, underpays a claim, fails to thoroughly investigate a claim or unreasonably delays payment, you will certainly need to enlist the help of Arkansas insurance bad faith lawyers.
Many people know that these situations occur and that many companies do not always act in legitimate, professional ways; however, the reality is, many do not know what to do until it happens to them. Complaints to Arkansas insurance bad faith lawyers regarding insurance companies have increased drastically, but this increase in public attention has also demanded that these insurers acting in bad faith finally be held accountable for their actions.
Responsibilities of Bad Faith Lawyers
Arkansas insurance bad faith lawyers can help to pursue bad faith litigation on behalf of individuals and businesses who are currently involved in disputes regarding coverage. They attempt to help the client receive financial compensation for losses and punitive damages. Additionally, the policyholder may also be entitled to more than just the insurance policy benefits; they may also be eligible to collect all damages caused by the unreasonable delay in processing the claim or the unreasonable denial of benefits, including economic losses, attorney fees, and emotional distress.
How You Can Protect Yourself
While insurers sometime act in bad faith simply because they can, there are some steps you can take to help protect your insurance claim. First, do not automatically assume that the insurer will protect you and know your basic rights. Obtain a copy of your policy and the applicable insurance regulations. Do not rely on oral representations from an adjustor; obtain everything in writing. Avoid exaggerating your claim and keep all of your documents in one file. Additionally, ask the insurer to provide copies of documents and keep copies of any statement you send to the company. After you consult with Arkansas insurance bad faith lawyers, you may be advised to maintain a log of all events, correspondences, phone conversations, interviews, and meetings following your claim.
While not every denied claim is brought forth out of bad faith, it is vital that you seek counsel from Arkansas insurance bad faith lawyers to determine if you have a case. You can do so through Attorney Group for Arkansas. If you feel that your insurer has acted out in an outrageous matter and that the denial or delay of benefits is unreasonable or without proper cause, the insurer should be held responsible. If you were denied payment you felt you were owed, contact Attorney Group for Arkansas who will work with you to determine if you have a case against the insurance company.