Insurance contracts contain an implied covenant of good faith and fair dealing, such that the insurer and the insured promise to act in good faith in exercising the terms of the agreement. If the insured responsibly adheres to the contract, the insurance company must do the same. When the insured suffers a loss, the insurer cannot renegotiate the terms or breach the contract to suit its own interests.
Insurance Bad Faith is a cause of action that is brought against an insurance company for breaching its duty to act in good faith toward its insured in handling the defense and settlement of a claim. Insurance Bad Faith claims may arise from claims involving auto insurance, health insurance, uninsured/underinsured motorist insurance, life insurance, homeowners insurance, medical malpractice insurance, and disability insurance.
When an insurance company acts in bad faith and violates the covenant of good faith and faith dealing, the insurer may be sued for the actual damages caused, such as the payment of benefits under the policy, as well as all consequential losses and damages suffered as a result of the insurer wrongfully denying the claim, or failing to protect the policy holder. Attorneys’ fees and punitive damages may also be awarded in appropriate cases.
If you believe an insurance company has acted unreasonably and breached its duty of good faith, contact the Capaz Law Firm and speak with a Tampa lawyer experienced in dealing with bad faith insurance claims.
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