Hurricane Insurance Company Goes Under

Hurricane Insurance,
Fair Claims Handling Practice

The importance of filing your claims properly is demonstrated in harsh ways in the Sun Sentinel article, "Expect low and slow claims payments if your insurer folds." Florida Guarantee Association has left well over a 1,000 unpaid claims in the wake of its insolvency declaration. As the article demonstrates insurance companies that go belly up often engage in delay practices. They often don't have the number or quality of adjusters it takes to keep up in a state like Florida where there can be diverse types of claims and a high volume.

The tragedy is that even with insurance regulators monitoring who gets to write insurance and how well they pay claims there is no guarantee claims will ultimately be resolved timely or for full and fair value. As soon as you realize your insurance company is dragging its feet in assessing your claim, reducing the value of claims, burying you in paperwork demands that extent the time for payment, declaring your loss uncovered by the policy you paid good money for, or utilizing its purported experts to deny your claims you should consider retaining counsel to assist you in holding the company you pay to protect you. Florida law gives you the insured, the right to fair claims handling practices so that you can receive the benefit of the bargain made for the premiums you paid.

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Source: Sun-sentinel.com