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Bad Faith
Dad Faith: Breaching the usual and customary practices of, and/or failing to maintain the standards of care required by, the insurance (and Risk Management) industry based on the concept of “Utmost Good-Faith”
Frederick J. Fisher, J.D., CCP, is the President of Fisher Consulting Group, Inc., and was the Founder of E.L.M. Insurance Brokers, a Wholesale & MGA facility specializing in Professional Liability and Specialty Line risks. He is a Member of the Editorial Board for Agents of America; a Faculty Member of the Claims College, and Member…
My career spans 20 years in the insurance claims industry with specialization in commercial general liability, special investigations/fraud investigations, commercial auto insurance, homeowner’s insurance, and cargo insurance. I spent the majority of that time working claims for syndicates of Lloyd’s of London. I published How Can Cannabis Claims be Covered and Adjusted? in the CPCU…
David Stegall is the Principal Consultant and Founder of Risk Consulting & Expert Services since January 1, 2007. He has over 40 years of insurance, reinsurance, bond and risk management industry experience. He is a Chartered Property & Casualty Underwriter, an Associate in Risk Management, an Associate in Reinsurance and a Registered Professional Adjuster. He…
Risk management & insurance thought leader & influencer, law professor, coverage counsel, & insurance expert witness.
THE CLAIMS JOURNAL interviewed AAIMCo member Kevin Quinley on claim ramifications of the 2018 Keodalah v. Allstate decision, allowing adjusters to be added as individual defendants in bad faith lawsuits.
“To the uninformed, “a claim is a claim is a claim.” To some extent this is true. Any type of liability claim requires proof that the insured owed a duty to another person or entity, that the insured breached this duty, and that the breach was the proximate cause of quantitatively measurable damages suffered by the person or entity to whom the duty was owed. Thereafter, it becomes a matter of determining whether or not there are any defenses such as comparative or contributory negligence on the part of the claimant. Finally, there is the question of coverage—the issue of whether or not the policy will respond to the claim. ….
There are significant differences between managing professional liability claims, compared to those arising out of more standardized coverages. …”
“Diminishing limits policies create a host of potential problems for insurance company claim departments. As is well known the insurance industry has long been plagued with “nuisance” claims. While in some instances insurance companies make quick settlements of nuisance claims to avoid defense cost expenditures, in others, insurers will attempt to resist such claims to avoid setting a precedent, thereby sending a message to the plaintiff’s bar that nuisance claims will not be honored. Considering that defense costs are deducted from the policy’s aggregate limits, either course of action places an insurance company in a difficult position. … “
Kevin extracts insights from HBO’s popular series and sees implications for how claim professionals approach the challenges in their work.
Mark Pollack is an accomplished entrepreneur, industry instructor, and subject matter expert offering at 30+ year in the insurance industry and extensive credentials and licenses. Leveraged knowledge of property and casualty claims, claim management, breach of contract, and bad faith claim handling to serve as an expert witness for both plaintiff and defendant attorneys. Mr.…
