As technology changes, so does the insurance industry. Getting help after an unfortunate situation is now available at the touch of a button on a smart phone. Some people are leery of the personal data that smart phones and apps tend to collect about users, but this could actually be a benefit if an insurance company acts in bad faith.
In Minnesota and all other states, insurance companies owe a duty to the persons they insure. These companies must act in good faith and deal fairly with insured clients regarding any claims that are filed. Policyholders may file bad faith insurance claims when such duties are breached.
A recent case heard by the Eighth Circuit Court of Appeals led to the ruling that an insurance company that fails to re-evaluate a case after evidence in the case has been struck down or eliminated constitutes a bad faith action.
In the last few weeks, we have written a couple of posts about how an insurer could rightly deny you coverage. Today, let's outline the many ways that an insurer could illegally or unjustly deny you coverage.
Earlier this month, we expanded on the idea that insurance company can indeed deny your claims under just circumstances. It is true that not every insurance policyholder is being robbed by insurance companies when the companies deny their claims -- but that also doesn't mean that bad faith insurance tactics are a thing of the past.
The college football season opened a couple of weeks ago, and last weekend the National Football League returned after a seven month absence. This has brought millions of fans back to the gridiron, ready to spend their Saturdays and Sundays consuming endless hours of football.
A story about bad faith insurance is making the rounds after a life insurance company rescinded the disability benefits it was providing a person who survived a brain tumor. The case involves a man who had a brain tumor and required extensive treatment and multiple surgeries to treat. But all of the medical treatment left him permanently damaged, and he looked to collect benefits from the Life Insurance Co. of North America.
While the following story doesn't involve the state of Minnesota, it is still a piece of good news for people everywhere because it shows how insurance companies who deploy bad faith tactics with their clients are being held to task.
While keeping the faith and losing the faith have nothing to do with insurance, good faith and bad faith do. Buying insurance is essentially buying a promise: your insurance company is promising to “cover” you, that is to provide you with insurance protection.
While we envision lawsuits alleging bad faith on the part of an insurance company as typically being filed by aggrieved individual or corporate policyholders, it's important to understand that they can be pursued on a much larger scale.