Business owners in Houston diligently make their insurance payments each month, to retain their entitlement to protection and compensation in the event of an unfortunate accident. While these premiums can result in financial strain, they provide business owners with peace of mind knowing that they are protected should the unthinkable happen.
However, many business owners file a claim with their insurance carrier after a major incident only to find their petition wrongly denied. Other companies deal with lengthy, unreasonable delays before learning the outcome of their claim.
When insurance companies act in bad faith regarding their payments to establishments and corporations, a Houston business insurance claims lawyer from Kirk Law Firm, PLLC is here to help. Our knowledgeable first party insurance claims attorneys could fight to protect your businesses’ rights after you were denied the compensation you deserve.
How Could an Insurance Provider Act in Bad Faith?
All insurance companies in Texas that offer policies to paying businesses are required, by law, to act in good faith. While this does not mean they need to offer compensation for every claim, they must review every case and respond in a timely manner. If a coverage provider assesses a claim and decides to deny it, they need to explain exactly why.
Unfortunately, not every insurance company upholds this duty when handling an insurance claim from a business in need. There are different ways that an insurer could act in bad faith – the most common example is simply taking an unreasonable amount of time to decide whether to pay or deny the claim.
Other examples of bad faith could involve an unreasonable denial. Insurance carriers are required to follow the contract of the policy, and if they have no valid grounds to deny a corporation’s claim, they need to pay up to the policy limits. Situations where a provider acts in bad faith can be incredibly frustrating, but our Houston attorneys could help a business owner demonstrate that their claim was not carefully considered by their insurance company.
Filing a First Party Claim Against an Insurance Company
Thankfully, when the owner of a company demonstrates that an insurance company did act in bad faith, it is usually possible to pursue a first party insurance claim against them. Doing this could force the coverage provider to finally pay.
There are different steps that a policy holding business needs to take for their first party claim to be successful. First, the company in question must establish that they had an active, contractual relationship with the insurance company at the time the claim was made.
Afterwards, a business needs to examine the details of their policy to ensure that there is no language that would entitle the insurance provider to deny the initial claim. Finally, a business owner or company seeking compensation for a sudden accident needs to transparently prove that their losses are covered under the terms of the policy. After establishing all these elements, they would work with one of our dedicated lawyers in Houston to file the business insurance claim.
Talk to a Houston Business Insurance Claims Attorney to Get Started
If your business was affected by a sudden accident, you should not have to worry about whether your insurance provider will respect the stipulations of your policy and contract. Unfortunately, these corporations usually have their own best interests in mind – they fight to limit the amount of money they pay to their customers.
To learn more about what you can do to fight back against your provider acting in bad faith, do not hesitate to reach out to Kirk Law Firm, PLLC. Our Houston business insurance claims lawyers could explain the best course of action and offer personalized guidance.