In New Jersey, like in many other states, there are regulations and laws in place to protect consumers from bad faith practices by insurers. Policyholders and litigants who believe they have been treated unfairly by their insurance company have the right to seek legal recourse. This may involve filing a complaint with the New Jersey Department of Banking and Insurance or pursuing a civil lawsuit against the insurer for bad faith practices.
Examples of bad faith could include an Unreasonable Denial of Claims, denying legitimate claims without proper investigation or justification. It could involve Intentionally prolonging the claims process without valid reasons thereby causing undue hardship to the policyholder. Another example would be failing to settle a lawsuit within the insured’s policy limits thereby exposing the insured to an excess verdict.
It’s essential for policyholders and litigants to understand their rights and to consult with legal professionals experienced in insurance law if they believe they have been the victims of bad faith by an insurer. If you believe you have been the victim of bad faith practices by an insurance company, call 609-472-1377 and get the help you need.
