DECEPTIVE INSURANCE PRACTICES
Where insurers and other entities engaged in the insurance business (like agents, brokers and independent claims adjusters) commit unfair settlement practices, unfair competition, false advertising or misrepresentation about an insurance policy, they can be held liable under the Texas Insurance Code.
The insurance laws protect against conduct including, but not limited to, the following: misrepresenting what is and is not covered under a policy; failing to attempt in good faith to bring about a prompt, fair and equitable settlement of a claim once the insurer’s liability becomes reasonably clear; failing to give the insured a reasonable explanation, based on the policy as it relates to the facts and law, for a claim denial or an offer of compromised settlement of a claim; and, failing to pay a claim without a reasonable investigation.
The insurance laws protect against conduct including, but not limited to, the following: misrepresenting what is and is not covered under a policy; failing to attempt in good faith to bring about a prompt, fair and equitable settlement of a claim once the insurer’s liability becomes reasonably clear; failing to give the insured a reasonable explanation, based on the policy as it relates to the facts and law, for a claim denial or an offer of compromised settlement of a claim; and, failing to pay a claim without a reasonable investigation.
For violations of the Texas Insurance Code, Chapter 541, claimants can recover policy payments wrongfully withheld, lost profits, lost business income and other amounts for significant damage to credit ratings. Mental anguish damages can also be awarded where the liable person or insurance entity acted while knowing the falsity, unfairness or deceptive nature of their unlawful conduct.
An examination of the facts and circumstances of a claim will ultimately determine if there is an action for deceptive insurance practices. The attorneys at The Taft Law Firm are prepared with the knowledge, skill and experience to handle the litigation needs of individuals and business wronged by the deceptive and unlawful actions of insurance carriers and their related entities.
