Business Insurance Claim Denied?

Has your commercial – business insurance claim been denied? Our business insurance bad faith lawyers will tell you not to take “no” for an answer. Commercial or business insurance is a necessity for businesses large and small. You purchased a commercial insurance policy to protect your:

  • Property
  • Employees
  • Inventory
  • Investments

Now, you have submitted a valid claim to your business insurance company, but the insurance company has denied your claim, or they are unreasonably withholding payment, they are acting in bad faith.

Business Insurance Bad Faith

An insurance policy is a contract between you (your business) and the insurance company. That contract creates a special duty for insurance companies that requires them to treat you (the policy holder) with the highest degree of good faith and fair dealing. Assuming you have submitted a valid claim, covered by your policy, a business insurance company is acting in bad faith if they:

  • Refuse to defend a policyholder in a lawsuit
  • Deny coverage of your business insurance claim
  • Unreasonably delay payment of your business insurance claim
  • Fail or refuse to pay a valid business insurance claim
  • Fail to investigate a business insurance claim before it is denied
  • Wrongfully refuse to settle a business insurance claim
  • Under pay the full value of a business insurance claim

Types of Commercial Business Insurance Coverage

Wise business owners purchase a variety of commercial insurance policies. It is a good idea to consult with a Lexington business insurance lawyer about the type of coverage you may need specifically. Business insurance is designed to protect you from things like fires, floods and major lawsuits. Catastrophic events like these would put many businesses out of business without the right business insurance coverage. It can be just as devastating to a business if their business insurance company has wrongfully denied their claim. A business insurance bad faith lawyer will tell you that acts of insurance bad faith can occur with any commercial insurance company on any type of policy. Business insurance bad faith may be found in commercial insurance policies like:

  • Comprehensive general liability insurance (CGL Policy)
  • Business interruption insurance
  • Property damage insurance
  • Theft coverage
  • Completed operations insurance
  • Pollution legal liability insurance
  • Directors and officers liability
  • Employment related practices liability insurance
  • Automobile coverage

What Should I Do When My Business Insurance Company Denies a Claim?

You have paid for the insurance coverage, possibly for many years, so you should be able to count on your commercial insurance company to be there when you need them. The reality is that business insurance companies often deny valid claims, refuse to the full value of claims and unreasonably delay payment of claims. Business owners often try to take on the insurance company alone. They may fight through a complicate appeal process or exchange angry emails and telephone calls with representatives from their insurance company. Meanwhile, your business is out of business or suffering under the weight of the unpaid claim. Hiring an experienced business insurance bad faith lawyer is the first step to getting things back on track. Retaining a business insurance bad faith lawyer as soon as your claim has been denied will help ensure a swift, positive outcome.

Why Choose Mehr, Fairbanks & Peterson Trial Lawyers

No other business insurance bad faith lawyer in the State of Kentucky has taken more insurance bad faith cases to trial than our Lexington insurance bad faith lawyers. Our vast experience in insurance bad faith litigation makes us a wise choice. We do not charge any upfront fees and we have the financial strength to carry the cost of litigation to its conclusion. So, you and your business will not have the additional burden of attorney’s fees and costs to worry about. In fact, if we fail in obtaining monetary compensation for you, you won’t pay us a dime. Call us today or submit a request for a free case evaluation.

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