Bad faith insurance is an insidious practice. It preys on good people who expect something out of their insurance policy, and on a macro level, it eats away at the trust people have in institutions. If you are considering enter into an insurance policy but have no faith that it will actually be upheld or fulfilled properly by the insurance company, then why would you agree to the policy? Without trust, there is no insurance business.
Thankfully, there are guidelines and compliance regulations that force insurance companies to act in a professional manner when it comes to dealing with an insurance policy. The California Insurance Code bans bad faith insurance practices in these ways:
- An insurance company must acknowledge and settle a case in a timely and fair manner where liability is clear
- An insurance company can’t obscure the facts or misrepresent them in the case
- They can’t offer a settlement that is less than what a policy is worth, per the policy
- They can’t mislead a policyholder or change their coverage without their approval or knowledge
- And an insurance company can’t attempt to dissuade a policyholder from seeking the help of an attorney
When you are dealing with your insurer and they are not being forthright in their actions, intentions or behavior, then you need to consult with an attorney to make sure your rights and interests are upheld. In this regard, the attorneys at Moss & Bollinger can help people in Ventura County with their claims and their insurance provider.