Each year the insurance industry makes billions of dollars in profits. They are able to do this, in part, by delaying and denying legitimate claims owed to their own customers. You should know that there may be serious consequences when an insurance company unreasonably delays or denies its customers's claims.

Texas law sets forth rules of conduct your insurance company must follow when you file a claim. Unfortunately, many insurers do not follow these rules knowing that oftentimes their insured will simply let it go. Your insurance company must act promptly, and in good faith, whenever you file a claim. For example, under Texas law, once your insurance company receives notice of your claim, they have 15 days to initiate the following three actions:

• Acknowledge receipt of the claim;
• Commence any investigation of the claim; and
• Request from the claimant all items, statements, and forms that the insurer reasonably believes, at that time, will be required from the claimant.

Once an insurance company's liability to pay your claim has become reasonably clear they must exercise good faith in effecting a prompt, fair, and equitable settlement of your claim. Once your insurance company notifies you that they will pay your claim they must actually pay the claim within five days or face penalties.

If you believe your insurance company has unreasonably denied your claim you may be entitled to compensation in addition to having your claim paid. These damages may include:

• The fair value for your claim
• Consequential damages for failing to pay the claim timely
• Penalty interest on untimely payments
• Mental anguish
• Court costs and attorney fees
• Punitive damages

San Antonio Personal Injury Law Firm

If you are currently having problems with an insurance bad faith claim, call our San Antonio law firm today at (210) 223-2627 or toll free at (888) 508-1110 or tell us about your case online by clicking on the "contact us" page.

Contact our Texas Personal Injury Attorneys today!