Not all, but may bad faith Insurance companies intentionally delay, deny and underpay claims. Of course, these tactics are improper, unethical, and immoral but in a pathetic attempt to gin up business for their defense law firm, a recent blog post targeting bad faith insurance companies outlines the benefits of purposely delaying insurance claims as an “effective legal strategy.”
That’s right! Insurance company defense law firms are promoting how insurers benefit by intentionally delaying claim payments to help themselves!
This shocking admission unscrupulously suggests weaponizing insurance companies to put pressure on policyholders and force them to settle for an amount favorable for the insurer. The blog post was removed from the law firm’s website after they were contacted by the Dallas Morning News. We see these tactics daily but have never seen a statement like this. Read>> Insurer’s Benefit by Delaying Claims
In our years of experience settling large and complex property damage insurance claims, we’ve come across several insurers who deploy delay schemes to frustrate and wear down policyholders. This blog post shows just how egregious, unconscionable and low some insurers and their legal representatives will stoop.
“Absolutely astounding,” was the reaction of J. Robert Hunter, retired Texas Department of Insurance commissioner. “We knew many insurers operate this way, but I’ve never seen the strategy admitted like this.”
Risk Management just keeps getting more challenging for real estate owners. Insurance premiums and deductibles are skyrocketing. Policy benefits are being diluted and the Texas Supreme Court characterizes the claims process as “adversarial.” We encourage Policyholders who don’t want to be the victim of wrongful delay, deny, and defend schemes to consider our track record for settling claims fairly and promptly. Holding insurers accountable, properly documenting claims, and successfully avoiding unnecessary litigation is the best path to indemnification.
If you’re dealing with a property damage insurance claim, please do not wait for delays or underpayments. Contact us at the beginning. If you have an open claim that is delayed or underpaid, you’re not alone, we can step in at any time during the claims process to help you get the settlement you deserve.
Insurance Companies Have Experts Working For Them, You Should Too! ™