Search
 

Unfair Claim Settlement Practices

Today's adjuster is frequently responsible for handling claims in several states. This applies to both the in-house claim office staff and to independent adjusters.

By Tim Lynch | Updated on July 28, 2008

Today’s adjuster is frequently responsible for handling claims in several states. This applies to both the in-house claim office staff and to independent adjusters. There is often an effort to accuse the claim handler of mistakes or misconduct as a way to either increase the amount of money available through the insurance coverage or to convert the loss into one for policy limits. One approach is accusing the adjuster of engaging in “unfair claim settlement practices” as prohibited by the statutes or regulations in a particular state.

Beginning in 1971 and continuing through 1990, the National Association of Insurance Commissioners (NAIC) performed major re-writes of its original Model Act dealing with claim practices. Almost all of the states have now adopted some form of legislation incorporating all or portions of the NAIC’s model act and/or model regulations.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.