"Show me a good loser, and I'll show you a loser."Vince Lombardi
|
Warning: fopen(stopka/index.php) [function.fopen]: failed to open stream: No such file or directory in /stopka.php on line 117
Warning: fopen(stopka/6655d922aa2c1bbb44b556c10262be35.txt) [function.fopen]: failed to open stream: No such file or directory in /stopka.php on line 117
| |
Mortgage Life Insurance
Owning a home is a dream for most of us, although it is an expensive one. The monthly payments usually take up a big slice of our monthly income, and the sudden loss in the event of you or your spouse's early death may leave your survivors unable to make ...
Outside Pressures On The Typical Insurance Adjuster
Insurance adjusters are not without outside pressures they must deal with every day of their work life. It would be advantageous for all readers to be aware of the most important of these because they could put money in your bank. The first of these is ...
Understanding Health Insurance
Health insurance is a necessity for everyone who wishes to maintain or improve their health. Whether you use your health insurance for regular checkups, chronic and debilitating illnesses or unexpected emergencies, you will find that carrying an ...
|
|
|
| |
With so much paperwork given to you by insurance companies, most people tend to overlook exactly what their contracts are about.
It is part of insurance law that any ambiguity or uncertainty in the choice of wording in a contract will be resolved in favor of the policy holder, and not the insurance company. This often works in favor of the policyholder when it comes to pointing fingers in court, but not all the time.
Most policyholders tend to have their own interpretation of the contract. Unfortunately, the judge doesn't care about the policyholder's understanding of the wording. In court, “plain meaning” is what the judge looks at. “Plain meaning” is how an ordinary citizen or common reader understands the text, and not how the policyholder, insurance company, or lawyer interprets it.
While courts do not necessarily interpret a contract at the expense of the policyholder experiencing a loss, it does not give leeway for “misunderstandings” of plain text by the policyholder.
Which is why contracts must be free of any ambiguities for both the insurance company and the policyholder. Whenever exclusions or limitations are stated, they must be stated very clearly. Oftentimes, insurance companies fail to fully explain these limitations to their clients, resulting in them successfully denying certain coverage when there is a loss. It is the insurer's policy to explain the contract to the client, especially if he is not aware of his rights or if he does not know if he is getting what is due fully his. However, the insurer is not required to tell him the adequacy of the insurance amount he selected. Keep in mind that when a contract contains provisions that are in favor of the company, the court will deem this unconscionable, and may refuse to enforce such provision.
Keep substantial evidence at hand. In such cases where a client is led to believe an advertisement or promotion of an insurance company that turns out to be false, depending on the state, legal protection can be provided for you.
When you are able to successfully prove that your insurance company has breached a contract, you can recover damages for consequential losses, loss of use of the insurance proceeds, general damages, attorneys' fees, and, in cases of egregious and misconduct, punitive damages.
Whatever happens, be sure to act fast. Insurance companies are always a step ahead of you in the legal department. Depending on the state, the statute limitation for a case like this is 2 years. In California, you are only given 1 year.
About the Author
For additional legal information and inquiries about the article log on to http://www.attorneyservicesetc.com
|
|
|
|
|
|
 |
Former Insurance Executives in Settlement TalksWall Street JournalBy CHAD BRAY And ASHBY JONES Federal prosecutors and lawyers for five former insurance executives accused of engineering a bogus reinsurance transaction to mask a drop in reserves at American International Group Inc. are in settlement talks, ... |
|
TEXT-Fitch affirms Selective Insurance's ratingsReutersMay 25 - Fitch Ratings has affirmed Selective Insurance Group, Inc.'s (Selective) ratings as follows: --Issuer Default Rating (IDR) at 'A-'; --Senior debt at 'BBB+'; --Junior subordinated debt at 'BBB-'. Fitch has also affirmed the 'A+' Insurer ... |
|
