According to Wisconsin law, insurance companies must act in good faith when it comes to claims handling. This is crucial since they have more power and finances at their disposal compared to their policyholders. As such, they must be fair towards insured individuals who deserve damage compensation.
Acts that are created to exact higher profits from policyholders who insurance organizations are supposed to protect are illegal. All third-party claimants must be treated fairly, according to the policies they hold. However, this does not mean certain insurance companies don’t try and make a quick buck by underpaying or denying fair claims.
The Unfair Claims Settlement Practices Act
The Wisconsin Unfair Claims Settlement Practices Act, protects the insured from unreasonable, unfair and unjust actions their insurance companies can take to compromise their claim. These laws were created to prevent powerful insurance organizations from dodging payments, delaying claims processes, or trying to shirk responsibilities they are paid to maintain.
According to the law, insurance companies:
If your insurance company is trying to delay your claims process or refuses to make full payments because of unreasonable premises in Kenosha, WI, you have the right to sue. Get in touch with attorneys at the Law Offices of John V. O’Connor to settle claim disputes to ensure they are in your favor. We have intimate knowledge about the claims process and are well aware of how insurance companies can try and fool their clients into settling for a low claim. Make sure this doesn’t happen to you by getting in touch with us for a consultation today.