In Florida, an insured cannot file a bad faith action against his or her carrier without first resolving the underlying claim. Specifically, there needs to be a determination of liability and a determination as to the amount of the loss. This requirement is referred to as the “Favorable Resolution Requirement.” Carriers often argue a judgment … Continue Reading
I was the "token" consumer advocate at the Annual Convention of the International Association of Claims Professionals, where Bob Hartwig provided a paced presentation, After the Crisis: Overview & Outlook of the P-C Industry. His presentation is worthy of study and not necessarily because of the factual content. Hartwig is the President of the Insurance Information Institute and a chief propagandist for the insurance industry's efforts to reduce consumer protection and allow insurers to wrongly delay or deny claims without accountability… Continue Reading
The Florida Legislature passed a law in 1982 that provides for a Policyholder Remedy when an insurer fails to act in good faith and causes damage to the policyholder. As a result, insurers could be held accountable to their policyholders under a "good faith" duty and standard of conduct similar to the "good faith" duties … Continue Reading