Don't be a Goat: Good Faith Best Practices and Legislative Trends
Duration: 73 minutes
A $15,000 uninsured motorist claim led to a nearly $2 million dollar bad faith award. A stolen car led to a bad faith award of over $55 million. The headlines are endless. Bad faith, or even just the perception of bad faith, will inevitably escalate the value of a claim—whether in settlements actually paid or in increased administrative costs. Insurance law experts Bill Knowles and Laura Foggan share their insights into best practices regarding bad faith insurance claims. Bill has made a career of advising his clients concerning a variety of insurance claims matters, including coverage and general liability. Laura has been described by LawDragon 500 Magazine as “one of the most successful advocates for the insurance industry to ever practice.” Bill shares his best practice tips to avoid a bad faith claim while Laura examines the recent litigation trend establishing bad faith without a breach of contract. Then, they both tackle the statutory trend following the implementation of Washington State’s Insurance Fair Conduct Act and its nationwide influence.
The best offense, the old saying goes, is a good defense. As Bill and Laura examine the multi-layered issues surrounding bad faith claims, never is that more clear. Communication between insurer and policy holder is at the absolute core of all bad faith claims. And while the parties may disagree about the meaning of core policy language, the failure to adequately communicate will more quickly lead the parties to litigation. With emerging trends allowing the establishment of bad faith claims without a breach of contract, insurers must be all that more vigilant to avoid being on the receiving end of a bad faith claim.
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