Playing with Fire

For years, insurers have been the target of bad-faith legal actions and judgments.

By Glenn Gibson | Updated on May 30, 2007

For years, insurers have been the target of bad-faith legal actions and judgments. These awards have resulted in significant amounts of damages, including punitive damages for sums of money reaching into the millions. Insurers have struggled at times with how to defend themselves against these types of claims. It’s time for insurers to begin considering a new question: “How do we show we acted in good faith in order to proactively address the potential for bad-faith claims?”

What Is Evidence?

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
Educational webcasts, resources from industry leaders, and informative newsletters.
Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account? Sign In Now

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

Around the P&C insurance industry: April 17, 2024

PC360 Staff Writer | April 17, 2024

Insurance industry news from EMC Insurance, PoloWorks, King Insurance Partners and more featured in weekly update.

Insolvency leads to Go Insurance Company liquidation

Brittney Meredith-Miller | April 18, 2024

In 2023, the Texas Dept. of Insurance issued Go a cease and desist after receiving over 50 complaints about the company's practices.

Insurers and policyholders at odds over AI in underwriting, claims

Ashley Hattle-Cleminshaw | April 17, 2024

Data from Insurity’s 2024 AI in Insurance Report show consumers are against AI in underwriting and claims management.

Resource Center

This guide empowers insurance carriers and risk managers to navigate complex regulations, safeguarding their brands from costly SMS and text messaging penalties.

Guide

Sponsored by gryphon.ai

The Ultimate Guide to SMS/Text Messaging Compliance

This guide empowers insurance carriers and risk managers to navigate complex regulations, safeguarding their brands from costly SMS and text messaging penalties.

Browse More Resources ›

Navigating the complexities of P&C core insurance digitization is no easy task. Explore the critical decisions between building or buying and how to achieve operational excellence in this white paper.

White Paper

Sponsored by Origami Risk

Build or Buy? Considering the Critical Decisions in P&C Core Insurance Cloud Digitization Projects

Navigating the complexities of P&C core insurance digitization is no easy task. Explore the critical decisions between building or buying and how to achieve operational excellence in this white paper.

Browse More Resources ›

As more customers “unbundle” their insurance products and spread their business among many carriers, agents must look for creative strategies to retain and grow business. Download this white paper to learn top strategies to ensure success in 2024.

White Paper

Sponsored by Melissa

Clean Your Data to Win the Customer Retention War

As more customers “unbundle” their insurance products and spread their business among many carriers, agents must look for creative strategies to retain and grow business. Download this white paper to learn top strategies to ensure success in 2024.

Browse More Resources ›

PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now

Copyright © 2024 ALM Global, LLC. All Rights Reserved.