Insurance fraud lawsuits are being filed across the country for victims who have suffered physically and financially as a result of these predatory practices. We are working with some of the most experienced insurance fraud lawyers across the nation, who are filing insurance fraud lawsuits to help victims get compensation. There is no fee until you obtain a settlement or award. For a free (no obligation) case evaluation call us toll free at 1-800-992-6878 or fill out a contact form online.
Do You Believe You Are A Victim of Insurance Fraud?
Read Below On Why You May Have a Claim.
What are Bad Faith Insurance Practices?
Bad faith insurance practices, or insurance fraud, involves a consumer who files an insurance claim to their provider who will try to avoid or delay paying out on the policy of the consumer. By insurance companies refusing or delaying the payments to their consumers, this saves the insurance company money, but deprives the consumer of the money they deserve.
What Kind of Insurance Can be Subject to Fraud?
There are several different types of insurance that can be subject to fraud. Below are just some examples of the types of insurance and commonly sued companies.
- Life Insurance: It has been revealed that many life insurance companies have been included in lawsuits due to their accounting practices by increasing their customer’s premiums. Many times the insurance company will send the customers letters stating that their “cost of insurance” for their policy has increase, while also paying a substantial increase in their payments of their premiums. One such company that has been allegedly partaking in the life insurance fraud practices is MetLife, which had to pay a fine of $3.2 million for their “unsafe and unsound practices.”
- Car Insurance: Many times, car insurance fraud lawsuits have involved insurance companies being accused of offering significantly less money than a claim is worth, or worse, refusing altogether to pay a valid claim. Many times, when the insurance company offers less than what the claim is worth, it can be considered bad faith, and you may have a claim against such company. Also, if you found yourself being refused a claim, and you have reviewed you insurance coverage, and should have been compensated, you may also have a bad faith claim against your company. One example of this would be when a Florida man brought suit against Allstate, and received $8.2 million for damages of bad faith.
- Homeowner Insurance: Although less frequent than other types of insurance fraud, homeowner insurance fraud cases regularly involve a situation of the insurance company failing to sufficiently investigate a claim, or a completely improper investigation. Many times the customer will be able to bring a suit for bad faith or even breach of contract due to the irresponsibility of the insurance company. An example of this would be with State Farm, who was under extreme scrutiny for their handling of Hurricane Katrina homeowner, with many of their claims being denied.
Are There Bad Faith Insurance Lawsuits?
Unfortunately, it seems that there are lawsuits being filed every day against insurance companies due to their alleged bad faith and fraud claims. Below are some examples of these lawsuits and how they were decided.
- $676 million: The Unum group has settled a case brought on by multiple parties in several states after being accused of allegedly denying thousands of their customers from proper disability insurance claims.
- $400 million: A lawsuit brought on by the New York Attorney General, Andrew Cuomo, and the American Medical Association (AMA) led to a settlement of more than $400 million against the health insurance giant, UnitedHealth Group. UnitedHealth was accused of unfairly rigging payments to treating doctors by making the patients pay outright, instead of having the company pay out, thus saving UnitedHealth money.
- $15 million: A lawsuit brought by an auto repair shop in Connecticut was awarded $15 million by a jury against one of the largest insurance companies in the country, The Hartford Financial Services Group. The insurance company was accused of trying to control car repair processes to increase their profits.
- $5.3 million: In Montana, a jury awarded a woman $5.3 million after her insurance company refused to pay her insurance claim after being involved in a serious car accident, leaving her with severe brain injuries.
What is a Bad Faith Insurance Case Worth?
What your potential bad faith insurance case is worth can vary depending upon the state you live in, and the level of bad faith that the insurance company has been accused. For example, you could be awarded simply the benefits you should have been entitled to, had the claim been processed and accepted. However, you could also be able to recover for any emotional or financial distress that could be proven to be suffered because of the denial of your insurance claim. Lastly, as a way to punish the insurance company and deter the company from practicing these behaviors again, the court or jury could grant you monetary awards, especially if serious bad faith is found to be true.
Why Should You Call Us?
If you suffered a loss due to bad faith insurance practices by your insurance company, you may be entitled to compensation. Our firm is working with experienced bad faith insurance lawyers, who can file a lawsuit for you and charge no fee unless you win your case and get an award or settlement. For a free (no obligation) case evaluation, call our toll free number or fill out a contact form on our website.