People rely on their insurance company to cover losses outlined in their policies and help them get back on their feet if an accident or injury leaves them with a heap of expensive bills. Unfortunately, insurance providers don’t always act reasonably and in good faith towards their policyholders. Some insurance companies will attempt to avoid making large payouts to save money, betraying the trust of their clients. When an insurance company behaves in this way, it’s referred to as “acting in bad faith” and is incredibly disheartening for their neglected policyholders. Luckily, Nevada has bad faith laws that strongly favor the public and punish insurance providers who refuse to pay valid claims.
If you suspect your insurance provider is acting in bad faith, our experienced bad faith insurance lawyers can help you pursue rightful compensation. Contact Pursiano Barry Bruce Demetriades Simon LLP today to request a free, no-obligation case consultation.
While there is no singular definition for “bad faith,” the term generally denotes an insurance company breaking the law by mishandling a claim carelessly or intentionally. Simply put, if the insurance company has not tried, in good faith, to resolve or settle a claim, it is considered to be acting in bad faith. Even though insurance companies are required by law to handle claims in good faith, many violate this duty to save money, knowing that unrepresented clients often don’t understand their rights and that they have a decent chance of getting away with it.
Being able to recognize when an insurance company is acting in bad faith is crucial. Bad faith insurance tactics are often characterized by self-serving professional practices or gross indifference. A few common bad faith insurance tactics that policyholders should look out for include the following.
For clients struggling to recover from property damage, auto accidents, or personal injuries, insurance providers unreasonably denying a claim can cause severe financial insecurity. Fortunately, with the help of an experienced insurance litigation lawyer, victims of bad faith actions can pursue compensation for their damages. Generally, victims can seek compensation for actual losses and punitive damages.
Actual losses a plaintiff may be able to recover the reasonable value of an unjustly denied claim, the difference between an unreasonable payout and the claim’s actual worth, out-of-pocket expenses incurred by the claimant, and more.
Punitive damages refer to compensation sought by plaintiffs to punish an insurance company acting in bad faith. These damages may include repayment of up to three times the amount of actual losses.
Policyholders deserve rightful payment for their claims, and insurance agencies that unjustly deny claims must be held responsible for acting in bad faith. The legal team at Pursiano Barry Bruce Demetriades Simon LLP can help defend your rights if your insurance provider is pressuring you to accept an inadequate settlement or trick you using complicated jargon, technical terms, or any other deceptive bad faith tactics. Contact us today to request a free consultation with our knowledgeable insurance claim lawyers!