Bad Faith Without Breach of Contract? Indiana Supreme Court Says the Duty of Good Faith Includes the Manner of Handling the Claim

Posted by Ethan Kinnear at October 19, 2011
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Insurance policies contain words that become ambiguous as technology and building practices change, causing good faith disputes over coverage to arise. While a good faith dispute over coverage does not constitute bad faith, one court suggested that an insurance company can be liable for bad faith if it fails to fairly treat its policyholders during its investigation of the claim.

The Indiana Supreme Court recently affirmed a jury verdict finding that an insurer acted in bad faith in denying its policyholders’ claim, even though the denial was found to be valid.

In , the Supreme Court of Indiana held, “[a] good faith dispute over coverage…did not preclude finding of bad faith and award of punitive damages based on insurer’s conduct leading up to and including the issuance of the denial letter.”

The insured, Magwerks, brought suit against Monroe Guaranty Insurance Company, a commercial property insurer, to recover for breach of contract and bad faith and sought punitive damages. The trial

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Post Tags: Faith Good Faith

Insurance companies pledge to pay out for UK riot damage

Posted by Lola Benny at October 13, 2011
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  • Hilary Osborne
  • guardian.co.uk,

Insurers have said they will pay out to customers who have had possessions damaged and stolen in the riots in London and across the rest of the country.

Some policyholders had been concerned that they wouldn’t qualify for a payout because the losses were a result of civil unrest, but insurers said this wasn’t a problem.

Keith Lewis, a spokesman for insurer Zurich, said: “As a customer it doesn’t matter what is happening – the issue of whether it is classed as rioting or civil unrest rises when we as insurers are trying to reclaim costs. I

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Post Tags: Damage Riot Damage

Car insurance: 10 things you need to know

Posted by Sara Steel at October 12, 2011
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The key to cheap car insurance is an accident and ticket-free driving record.

Most people see car insurance as a necessary evil and who can blame them? The monthly payment is among the most expensive household costs you have and all for something you hope you never have to use. The good news is that with a little bit of research you can make sense of car insurance and save money in the process.

Here are ten things you need to know.

1. Keep a good driving record

The single best way to keep your premium low is to build a good driving history.

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Post Tags: Car Insurance Insurance

The Essentials of Insuring Antique Cars

Posted by Admin at October 03, 2011
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Today, more and more people are getting into collecting antique cars, which is why the number of insurance companies that are offering antique car and vintage car insurance policies has also increased. It is important to make sure that you have a car insurance policy which would be able to adequately cover your antique car because antique cars are usually more expensive than regular cars.

Antique cars or vintage cars are cars which are from the 1950s, 1960s or 1970s, and sometimes from even older decades. They have usually been preserved or reconditioned and can either be owned for the purpose of collecting them or driving them.

There are several considerations that you need to make when looking for an antique car insurance policy. Full Article…

Post Tags: Antique Cars Cars

Loving Animals: The best gift you can give

Posted by Sara Steel at September 27, 2011
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As a volunteer at the local animal shelter, I see lots of dog and cat adoptions. Some are successful and result in the “forever family” that we so desperately want for our four-legged residents; however, some are not successful and result in the animal being returned to the shelter.

Typically, returns are due to poor choices on the adopter’s part and are not the animal’s fault. When you adopt a pet, you take responsibility for that animal for its lifetime; therefore, it’s hard to understand why some people don’t put a little more thought into choosing a pet.

Mos

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Irene Destroys Small Town in Upstate New York #riskymonday

Posted by Ethan Kinnear at September 26, 2011
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For many East Coasters, Hurricane Irene caused large amounts of devastation as the storm ravaged towns and left millions of residents without power. Many were left stranded as Irene flooded coastal towns pushing water inland destroying roads and homes along its path. Check out the video and share your thoughts by commenting below or on Twitter using the hashtag #riskymonday.

#riskymonday, brought to you by Bankers Insurance Group, covers one important video highlighting the risks we face each week.

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Post Tags: Town Town Upstate

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