That’s precisely how insurance bad fath laws are supposed to operate. If insurers would stop engaging in bad faith conduct, these treble damages and awards for attorney fees and costs would go away. These laws are designed to protect insureds, not insurance companies.
I guess like it or not, this is the cost to maintain a system of checks and balances. I wonder if there is some other way to resolve these matters short of litigation. I have heard from others that arbitration is not much better in terms of overall cost savings. Surely, if we can figure out how to fly unmanned drones into combat we out to be able to figure out a way to resolve these matters at a cost much less than $190 M over a two year period.
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That’s precisely how insurance bad fath laws are supposed to operate. If insurers would stop engaging in bad faith conduct, these treble damages and awards for attorney fees and costs would go away. These laws are designed to protect insureds, not insurance companies.
I guess like it or not, this is the cost to maintain a system of checks and balances. I wonder if there is some other way to resolve these matters short of litigation. I have heard from others that arbitration is not much better in terms of overall cost savings. Surely, if we can figure out how to fly unmanned drones into combat we out to be able to figure out a way to resolve these matters at a cost much less than $190 M over a two year period.