How can an insurance company’s evaluation of its policyholder’s personal injury claim be considered fair, reasonable and in good faith if the insurance company cannot explain how it arrived at the dollar value it assigned to the claim? I don’t believe it can.
This issue often arises in uninsured motorist (“UM”) breach of contract/bad faith
Remember the awful accident the “Saturday Night Live” and “30 Rock” comedian involving Tracy Morgan? As you might imagine, it led to high-stakes lawsuits by the people injured, but what you might not know is it also led to insurance bad faith litigation between Wal-Mart and its insurance companies.
The accident happened on a highway
Most of us are well aware of the basic provisions of our automobile insurance policies. For example, we know that if we back into something in a parking lot and damage our bumper, insurance will fix it. We also know that if we have an accident that’s our fault and cause damage to someone else,
Uninsured/Underinsured motorist or “UM” coverage is one of the most important coverages a person can buy. State law requires all drivers to carry liability insurance, which is there to pay for property damage and personal injuries caused by the policyholder. However, plenty of drivers violate that law every day and operate vehicles on the roads