Insurance Cancellation & Rescission: A Common Insurance Company Trick
When they file claims for insurance benefits, people are often surprised to find that insurance companies seem more interested in trying every trick possible to avoid paying the benefits than they do fulfilling their promises. Insurance companies don’t care that premiums were paid. They don’t care that you have lost a loved one and need the money from a life insurance policy, or that you or someone you care about has become ill or injured and needs the money from a short-term or long-term disability insurance policy.
All insurance companies care about is protecting their bottom line. After a claim is filed, an insurance company will not only review the claim itself, but the insurance policy. The insurance company will look for anything possible that they can use to claim the policy is not valid and was never valid. For this reason, it is important to ensure that your rights are protected. When you work with our New York City law firm, Jaroslawicz & Jaros, you can trust that we will have your best interests in mind. Call now to learn more.
What Is A Bad Faith Insurance Denial?
Insurance policies are contracts between an individual and an insurance company. Sometimes, an insurance company may perform an illegal action concerning this contract, whether by canceling it, denying its existence, or refusing to comply with the agreement. This is sometimes referred to as a bad faith insurance denial. The wrongful cancellation or rescission of insurance benefits may put individuals in difficult situations.
If you have an insurance policy with a company that is attempting to cancel the policy or refuses to provide benefits, you may be able to make a claim against the insurance company for breach of contract. Filing a successful claim may allow you to obtain the benefits and compensation you deserve. You do not have to face the insurance company alone. Contact our personal injury attorneys in NYC today.
Protect Yourself With An Insurance Denial Claim
Wrongful repudiation and/or cancellation may occur when an insurer:
- Attempts to change the terms of a policy without consent
- Denies the existence of a policy
- Fails to meet expectations in established customs
- Intends not to perform obligations under a policy
- Refuses to comply with a policy
After an individual file a claim with their insurance company, the company may review the claim as well as the policy in deciding whether to comply with the policy. Though these companies face consequences for making illegal repudiations and rescissions, they will not necessarily be held accountable without legal action. When an insurance company performs an illegal breach of contract, make a claim to recover for the damages incurred.
You may be able to recover for a bad faith insurance denial in several ways:
- Actual damages
- Consequential damages
- Punitive damages
Jaroslawicz & Jaros Can Overcome Insurance Company Tricks
Did the insurance company rescind your policy and issue a disability insurance denial or life insurance denial? Our lawyers have handled cases involving million-dollar policies. Since 1981, we have broken ground and made headlines in the field of insurance law, taking cases to appeal and obtaining decisions that have set the standard for how these cases are handled. Not only do we know all of the insurance company’s tricks, we know how to overcome them. If you are seeking compensation for an insurance claim that was wrongfully denied, retain a legal team that puts clients’ needs first. Call Jaroslawicz & Jaros to schedule a free case evaluation: 212.227.2780 locally.