Curated News
By: NewsRamp Editorial Staff
June 13, 2024
Understanding Bad Faith Claims in Insurance Contracts
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- Understanding the elements of a bad faith claim can give you a competitive advantage in dealing with insurance companies.
- To establish a bad faith claim, there must be a valid contract, a duty of good faith, unreasonable delay or denial of claims, knowledge of coverage, lack of a reasonable basis, intent or knowledge of wrongful conduct, and actual damages.
- By holding insurance companies accountable for acting in bad faith, individuals can make the world a better place by promoting fair treatment and protecting the rights of policyholders.
- Andrew Weisblatt's journey from a two-lawyer practice to a sizable team of about twenty professionals offers an interesting insight into the evolution and growth of The Weisblatt Law Firm.
Impact - Why it Matters
Understanding the elements required to establish a bad faith claim in an insurance contract can help individuals and businesses protect their rights and ensure fair treatment by insurers. Attorney Andrew Weisblatt's emphasis on the importance of carefully drafted business contracts highlights the crucial role of legal protection in business operations. Weisblatt Law Firm's exceptional legal services can provide valuable support for businesses facing various legal and operational challenges.
Summary
The elements required to establish a bad faith claim in an insurance contract include the existence of a valid contract, the insurer's duty of good faith and fair dealing, unreasonable delay or denial of claims, knowledge of coverage, lack of a reasonable basis for denial, intent or knowledge of wrongful conduct, and actual damages. Attorney Andrew Weisblatt emphasizes the importance of having business contracts carefully drafted by a business contract lawyer to protect all rights. Weisblatt Law Firm, founded by Andrew D. Weisblatt, offers exceptional legal services and customer care for business-related issues such as employee problems, contract disputes, business sales or purchases, collection issues, or defense of claims.
Source Statement
This curated news summary relied on this press release disributed by 24-7 Press Release. Read the source press release here, Understanding Bad Faith Claims in Insurance Contracts
