Insurance Law: Bad Faith

People and businesses buy insurance policies for peace of mind.  To have security if the worst should happen. But what happens when the worst happens and the insurance company refuses to pay.

In Pennsylvania, insurance companies have a fiduciary duty to their policy holders and when they break that duty a claim can arise for bad faith.

Insurance companies can be found to be acting in bad faith if they fail to provide a defense to and insured individual, refuses to pay a claim, delay paying a claim or by their misconduct while a claim is pending (such as forcing litigation to avoid paying a claim it rightfully is obligated to pay). Damages in a Bad faith claim can include, the awarded amount plus punitive damages,   interest, court costs and attorney fees.

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