Are You Battling With An Insurance Company Refusing To Pay Your Claim?
Insurance is supposed to provide peace of mind and financial security. As a policyholder, you rightly expect the insurance company to uphold its end of the bargain. The terms of the policy impose a legal duty of “good faith and fair dealing” on all parties.
The reality of the industry is less optimistic. Insurance companies occasionally do everything in their power to avoid paying out claims. Their priority is profits, and, they retain a robust staff of adjusters and attorneys to protect the company’s financial interests, sometimes at the policyholder’s expense.
The Good News: The Law Is On Your Side
Illinois law protects the policyholders’ right to be treated fairly when it comes to insurance claims and mandates that the insurance company extend as much interest to your rights as to its own. If an insurer unreasonably denied, delayed or underpaid your claim, you may be entitled to bring a bad faith claim.
To prevail, you must show that the insurance company acted unreasonably and in violation of its legal duties — for example, by:
- Failing to objectively investigate your claim
- Summarily denying your claim without adequately examining it
- Failing to defend you when it had a duty to do so
- Delaying your claim with no real justification
- Retroactively canceling your policy (rescission) without sufficient grounds for doing so
- Using abusive or coercive tactics to pressure you into a settlement
- Pursuing an unreasonably low settlement offer
If successful, you may be able to recover not only the amount of your claim, but also attorney fees and an additional penalty up to $60,000.
Get Legal Advice From A Former Claims Adjuster
Explore whether you have a “bad faith” claim by turning to O'Toole Law Firm, LLC. We represent businesses and individuals in all areas of insurance throughout Chicagoland.
Attorney John O'Toole, has more than 30 years of experience in the insurance industry. He worked as a claims adjuster, broker and underwriter before entering the legal profession. As a result, he understands the inner workings of insurance companies. He now puts that knowledge to work in fighting for the rights of policyholders.