With every insurance contract, there is an implication of good faith and fair dealings. There is the idea that an insurance company will treat each claim with objectivity and fairness. However, this is not always the reality. When a claim is handled unjustly by the insurance provider, it is considered bad faith. If this happens to you, contact one of our Denver bad faith attorneys for help immediately.
Insurance companies have much to gain by acting in bad faith. Out of the thousands of claim decisions made every day, very few are ever contested by insured parties. This allows insurance companies to save large amounts of money on denied claims that should have been approved.
Insurance companies have an obligation under Colorado state law to act in good faith. Among other things, these good faith practices include:
When an insurance provider fails in these duties, they are guilty of acting in bad faith.
The following are the five bad faith insurance practices most commonly reported:
If your insurance company has acted in bad faith, you could be eligible for as much as three times the amount of insurance benefits owed to you. You could also be entitled to interest on those benefits, punitive damages, and other damages. Contact the law firm of Fuicelli & Lee, PC, for a free case evaluation. You pay nothing unless you receive a financial settlement or award. Call our office at 303-355-7202 or fill out our confidential contact form.
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