In simple terms, a party acts in bad faith when they do something dishonest or downright fraudulent during a transaction. Bad faith insurance is when an insurance company tries to prevent you from getting what you deserve in an insurance claim. If you are like most people, you buy insurance to protect yourself financially from […]
Read MoreYour insurance company has an obligation to act in your best interests regarding coverage and paying out benefits. However, insurance companies are businesses, and they are also interested in making profits just like every other business. If there is an opportunity to deny coverage or pay out less in claims, they will often take it, […]
Read MoreAn insurance company engages in bad faith when they do not act in their insured’s best interests. As someone who pays insurance premiums, you expect that your insurance company will have your back when it comes to paying claims that you submit to it. You also expect that they will be reasonable about handling claims […]
Read MoreIn 1977, the Oklahoma Supreme Court established that “an insurer has an implied duty to deal fairly and act in good faith with its insured and that the violation of this duty gives rise to an action in tort for which consequential and, in a proper case, punitive, damages may be sought.” Bad faith actions […]
Read MoreWe rely heavily on insurance to pay out on claims for a variety of risks in our life—from medical bills to property damage. Insurance is designed to protect you from the unexpected when tragedy strikes. Every insurance company in Oklahoma is required to enter into an agreement with you and investigate your claim in good […]
Read MoreInsurance companies are just like any other business—they want to make money. Unfortunately, they sometimes use their customers to cut costs by denying claims that they should pay. In some circumstances, denials may have some reasonable rationale behind them. In other situations, denied claims may just be an attempt to save the insurance company a […]
Read MoreOn October 22, 2019, the Oklahoma Supreme Court issued its opinion in Loven v. Church Mutual Insurance Company. This case addressed a claim for “intentional interference with a prospective economic business advantage.” The justices held, for the first time, that such claims require a “showing of bad faith.” Lisa Gaye Loven worked as a general […]
Read MoreAll insurance companies have a “duty of good faith” under Oklahoma law. An insurer faces tort liability if they fail to investigate, negotiate, defend, or settle a claim in bad faith. At the same time, judges will not assume an insurer acted in bad faith absent compelling evidence to the contrary. On September 27, 2019, […]
Read MoreRecently, a jury based in Tarrant County, Texas awarded a fracking company more than $5 million in damages in a bad faith insurance claim. In Compass Well Services, LLC v. Great American Insurance Company of New York, the jury determined that the insurance company engaged in unfair settlement practices when handling an equipment damage claim. […]
Read MoreOn August 28, 2019, a federal judge in Oklahoma ruled a bad faith lawsuit against CSAA General Insurance Company (CSAA) could proceed to a jury trial. The plaintiff in this case, Daniels v. CSAA General Insurance Company, accused the insurer of failing to properly settle her claim for benefits following a December 2017 auto accident. […]
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