A story like the following will never garner positive publicity points for an insurance company. In fact, it will assuredly yield an immediately sharp public response, even without regard for underlying details.
Many insurance companies are stuck between that proverbial “rock and a hard place” when it comes to cyberattack claims. Those increasingly issue from commercial policyholders who have generalized risk policies rather than specific cyberattack coverage.
Reportedly, about 10% of all Americans have included fraudulent information on their auto insurance applications to score a better premium rate.
The “two sides to every story” adage often takes on stark significance when bad-faith accusations swirl around insurance companies. There is often a quick call to judgment in the public’s collective mind when tales emerge of insurers’ denied coverage in a given matter. A David-versus-Goliath twist to such stories often ensures that an insurer is backtracking from the outset and forced to justify actions taken.
It was a question of timing, stressed one state’s highest court, and a couple contesting an insurer’s denial of their policy claim erred on when the relevant legal clock started ticking.
Many Louisiana insurers that offer comprehensive protection to policyholders often provide service across an impressively broad range of industries.
You want it, we’ve got it.
As we turn the calendar to 2018, an important consideration for businesses is to make sure that they are properly covered for calamities that may come their way. Of course, most understand that they must have liability policies or errors and omissions (E&O) coverage, but they also believe that this coverage applies to cyber attacks and subsequent damage, such as third-party losses stemming from personal injury and commercial crime.
Unfortunately, auto insurers can’t always count on people being honest with them. There are a variety of policyholder lies such companies could be exposed to. Among the things that could tempt a policyholder to be dishonest with their insurer is the prospect of gaining some sort of financial advantage by lying.
Homeowners insurance policies contain all kinds of terms. One type of term that tends to get a great deal of attention from the public are terms regarding insurance premium amount. There is quite a bit of variation among states when it comes to what level such premiums tend to be at.