Bad faith is an intentional dishonest act aimed at deceiving others. In the insurance context, the meaning is much broader and technical: Bad faith is when the insurance company fails to attempt in good faith to make a prompt, fair,...
Amnesia is defined as the inability to recall information stored in our brain which is also referred to as loss of memory. Post-Traumatic Amnesia (PTA), on the other hand, is defined as a state of confusion that may occur immediately...
Withholding overhead and profit have become a common practice in hail storm claims handling for insurance companies. Insurance companies demand that overhead and profit are actually incurred before paying claims. Considering that overhead and profit are an estimated 20% of...
The appraisal process is found in most homeowners’ insurance policies and it is commonly invoked to address disputed property damages. The appraisal process is used to determine the amount of property damage caused by the loss event. (e.g., hail storm,...
