Doyle Raizner LLP has filed an insurance bad faith lawsuit against ASI Lloyds of Texas and Vericlaim, Inc., on behalf of a policyholder who filed a claim for damage to a multi-family property. The damage was a result of multiple hailstorms which struck McAllen in March and April of 2012.
The commercial property owner purchased an insurance policy from ASI Lloyds to ensure coverage in the event of a hail and wind event. The policy’s coverage involved two sets of duplexes; both were damaged in the hailstorms. ASI assigned Vericlaim as the third party administrator for the claim. The estimate of damaged prepared by ASI and Vericlaim underestimated the value and extent of the damages to the two duplexes. An inadequate, incomplete and unreasonable investigation was performed which resulted in the wrongful denial of the policyholder’s claim.
ASI and Vericlaim violated the Texas Insurance Code by failing to attempt to effectuate a prompt, fair, and equitable settlement of the policyholder’s claim. The two companies also breached their duty of good faith and fair dealing by refusing to properly investigate and effectively denying insurance benefits.
Owners of property such as this suffer further financial burdens when their property cannot be repaired due to an insurance company’s failure to fulfill its obligations. The damage affects tenants and places an unnecessary hardship on them. Doyle Raizner stands committed to ensuring this multi-family property owner receives the compensation promised under the contract it bought with ASI Lloyds.
If you have experienced bad faith tactics from your insurance company, contact the attorneys at Doyle Raizner.
Doyle Raizner has filed a property insurance bad faith lawsuit against Wellington Insurance Company on behalf of a McAllen homeowner. The plaintiff’s home sustained substantial damage from a series of hailstorms that struck the Rio Grande Valley in March and April of 2012.
The hailstorm caused damage to the home’s interior, exterior, and roof. After the storm, the plaintiff filed a claim with Wellington. The claim was inadequately, incompletely and unreasonably investigated. Wellington then wrongfully denied the plaintiff’s claim for property repairs. All of these actions violated the Texas Insurance Code and the Deceptive Trade Practices-Consumer Protection Act (DTPA). Each of the actions described herein were done “knowingly” as that term is used in the Texas Insurance Code and were a cause of the plaintiff’s damages.
The denials, delays and disputes Wellington used as a tactic to dissuade the insured from pursuing the claim are part of a system of roadblocks the insurance company knowingly puts in place. This is an example of an insured requesting the protection they were promised only to be met with reasons the insurance company cannot pay that were created to wear down a policyholder.
Doyle Raizner remains committed to securing the compensation to which this policyholder is contractually entitled. If you have experienced this type of bad faith tactics, please contact an attorney at Doyle Raizner.
Doyle Raizner will sponsor a community event for the Indo-American Cultural & Religious Foundation of Arizons on Friday, November 11, 2011. Doyle Raizner is proud to sponsor this fundraiser for the community, which will take place at the Fundation Community Center for the Indo-American Cultural & Religious Foundation of Arizona, 2809 W. Maryland Ave., Phoenix, Arizona.
Doyle Raizner is currently handling commercial and residential insurance disputes arising from the October 2010 hailstorm in Phoenix, Arizona.
We have received a number of inquiries in recent days about the statute of limitations and deadlines for filing suit for claims arising out of the October 5, 2010 hail storm in Phoenix. Arizona has a unique law that allows the insurance industry, in certain circumstances, to reduce the statute of limitations from 6 years for contract claims to as low as one year.
Read our article Deadlines for Arizona Hail Damage Claims are Approaching on our website for more information.