Insurance Lawsuit Litigation | Bad Faith Insurance Practices: Vanishing Premiums Fraud, Deceptively Sold 412(i) Life Insurance/Pension Funds, Breach of Fiduciary Duty, Misrepresenting an Insurance Policy, Discriminatory Insurance Policy Pricing, Unfair Claims Settlement Practices , Wrongful Denial of Insurance Coverage, Misrepresentation of Benefits For Disability or Accident Policies…
Insurance policies are legal binding agreements between the insurance company and a business or individual seeking to be insured against some damaging or injurious future event. Bad faith insurance practices happen when an insurer unreasonably withholds the benefits of the policy from the party it has insured, this is called a bad faith insurance practices occur .
Gilman Law has represented numerous clients including businesses and consumers relating to bad faith insurance practices. Our lawyers have significant and substantial experience prosecuting claims against insurance companies that have acted in “bad faith” towards those they insure.
An insurance policy is a legal agreement between the insurance company and a business or individual seeking to be insured against some future event. Bad faith insurance practices occur when an insurer unreasonably withholds the benefits of the policy from the party it has insured. Bad faith insurance practices include, but are not limited to breaches of fiduciary responsibility, misrepresentation or omission of facts relating to specific insurance policies, discriminatory pricing of insurance policies, unfair claims settlement practices and wrongful denial of insurance coverage.
Areas of Bad Faith Insurance Practices & Insurance Fraud:
- Vanishing Premiums Fraud – Insurance policies, usually whole-life, where premiums are represented to discontinue at some point in the future and do not.
- 412(i) Life Insurance/Pension Funds where polices are deceptively sold in violation of sound actuarial principles.
- Breach of Fiduciary Duty – Engaging in practices which fail to protect an insured’s interests in bad faith.
- Misrepresenting an Insurance Policy – When an insurance company knowingly misrepresents or omits the material facts of a policy to a potential buyer, or knowingly commits unconscionable practices.
- Discriminatory Insurance Policy Pricing – Charging different groups and/or individuals higher insurance policy premiums where a material difference between the groups is nominal or non-existent.
- Unfair Claims Settlement Practices – When insurance companies engage in unfair, deceptive or inappropriate claims settlement practices. Many insurance companies fail to fully and timely compensate their insureds.
- Wrongful Denial of Insurance Coverage – When individuals and/or organizations entitled to benefits of a specific insurance policy are wrongfully denied those benefits by the insurance company.
- Disability or Accident policies where companies misrepresent the benefits available under the policies and refuse to honor claims.
Legal Help for Victims of Consumer Fraud
If you or someone you know may have been the victim of bad faith insurance practices or insurance fraud, please fill out our online form, or CALL TOLL FREE (1-888-252-0048) today.
Facebook
Twitter
RSS