Missouri Insurance Lawyer Blog

Small business owners have to be many things, from salesman to maintenance to human resources and more, to run a successful business. One of the many things small business owner should be well informed on is insurance coverage. The National Association of Insurance Commissioners (NAIC) makes this challenge a little easier by offering a website, Insure U for Small Business, that is full of helpful information designed to make the small business owner's quest for the right insurance coverages a little easier.

The NAIC is the organization of insurance regulators from the fifty states, District of Columbia and U.S. territories.

Despite the hundreds of millions of dollars insurance companies spend on advertising to make us believe that insurance comapnies will do the right thing, their actions speak louder than words. So I will be posting stories and verdicts of insurance company fraud, insurance company bad faith, unfair claims denials so that personal injury victims, and consumers can check the fact from the fiction.
For a start read about Allstate's Bad Faith, or about HMO claims denials.

Insurance companies often say one thing then do another. Most of the time, an insurance policy means what it says however, there are numerous reasons why you may be entitled to collect from an insurance policy despite what the company or the policy represents to you at the time you make a claim. As a result you should make sure that you know your legal rights and do not rely solely on the insurance company for your interpretation of the policy. It is critically important that you are aware that sometimes the policy language itself may not control. For instance if the language is confusing, vague or ambiguous your claim may be covered.

Consider also that sometimes part of the policy may be illegal under the law of your state. For example a personal automobile policy which includes uninsured motorist coverage for the policy holder. In many states, most every policy sold of this type, contains an anti-stacking clause which prevents a policy holder who owns more than one vehicle from stacking or collecting the policy limits for each uninsured motorist coverage. However, in many states the insured can stack uninsured motorist coverage. Therefore if you had four vehicles each with uninsured motorist coverage of $25,000.00 and you are injured by an uninsured motorist instead of being able to collect $25,000.00 you could collect up to $100,000.00 despite the anti-stacking clause. Relying on the insurance company to tell you what's covered is not the smart move. So even if you have read your policy it is critically important for you to understand your rights. Simply reading the policy will not protect all of your rights and it is important that you inform yourself of those rights if you are making a claim under an insurance policy.

.  Chris Faiella, a partner with the law firm of Tatlow, Gump & Faiella, LLC has helped clients fight insurance companies after they have been told a policy of a person who injured them was canceled and in cases where their own insurance company claimed a policy lapsed.  Our firm has been successful in securing recoveries for clients in these situations. If there was not proper notification of the cancellation of a policy by the insurance company then you may have a claim even if the company claims there is no insurance coverage.  

Speak with an Attorney

 Call toll free 1-800-264-3455 to speak with a Chris Faiella of the Law firm of Tatlow, Gump & Faiella, LLC about your Insurance Coverage claim when the Insurance Company did not provide proper notification of cancelation or lapse.

Policyholders, the insurance contract is not an exciting thing to read, but it should be read.  I have found that many insurance agents, claims adjusters, underwriters, and attorneys don't understand insurance policy language. So why should you read the policy if even some professionals have difficulty? Well, the simple answer is the more you know, the better you can protect yourself.

While you will probably not understand all of the policy let's discuss some basic things you should check.  Every policy differs but all of them have some common elements, the declarations, the insuring agreement, definitions, policy coverage, exclusions and conditions.  Review the declarations page. The declarations page is in effect a summary of the coverage, and the specifically negotiated terms.  The declarations page will give you the term of the policy, the premium, the general types of coverage the policy contains, and the financial limits of the coverage.  You should check that each of these meet what you understood them to be when you decided to purchase the policy. If they do not you should contact your insurance company or agent to correct the problem immediately.

The remaining sections of the policy are often difficult for people without insurance experience or legal training to understand, but it is worth reviewing the policy so you are generally aware of the coverage, definitions, and terms.  If you see something that causes you concern, contact your company or agent.

When you have completed your review put the policy, along with your copy of the application, and informational brochures you received in a safe place.  If you need the insurance down the road and there is a dispute between you and your insurance company, you will have all the information you need in one place.

If you have a claim dispute with your company the contract is the first place to go to understand the obligations of each party. 

Chris Faiella, a partner with the law firm of Tatlow, Gump & Faiella, LLC has helped clients fight insurance companies after they have been told a policy of a person who injured them was canceled and in cases where their own insurance company claimed a policy lapsed.  Our firm has been successful in securing recoveries for clients in these situations. If there was not proper notification of the cancellation of a policy by the insurance company then you may have a claim even if the company claims there is no insurance coverage. 

 

Speak with an Attorney

 Call toll free 1-800-264-3455 to speak with a Chris Faiella of the Law firm of Tatlow, Gump & Faiella, LLC about your Insurance Coverage claim when the Insurance Company did not provide proper notification of cancelation or lapse.

Nationwide tells you they are on your side, State Farm, is like your good neighbor and Allstate has you in good hands, but reality check, they are not.  The truth is that insurance companies are businesses that sell financial protection against risk.  What you get for your dollars is a promise of payment under the terms of the policy at some date in the future.  The bottom line, you have a contract and nothing else. 

When you purchase or renew insurance you should do at least three things: have an understanding of the coverage available, check the insurance company's financial strength, and check the claims history of the company. 

To get an understanding of the coverage you can refer to literature the company provides, which should give you an honest plain English version of what the coverage is for and what it covers.  You should keep this material from the company you buy or renew your policy with.  If the coverage in the policy and the ads don't match what the contract says, this evidence may help you recover despite what the policy says. 

You can check out insurance company's financial strength, and claims histories at the department of insurance in the State where you live. Most departments keep track and allow public access to complaints that are found to be valid.  Any insurance company can have some complaints, but if there are numerous complaints look for another insurance company. 

Keep in mind that if you end up making a claim on your own policy you and your insurance company are adversaries.  The insurance company's obligations and yours are defined by the contract. Don't buy coverage because of an ad, buy it because it meets your needs, the company is financially strong, and has a good track record of fair treatment when paying claims.