This form is a sample complaint filed against an insurer for failure to pay a claim.
Colorado Complaint regarding Insurer's Failure to Pay Claim
State:
Multi-State
Control #:
US-PI-0284
Format:
Word;
Rich Text
Instant download
Description
Free preview
How to fill out Complaint Regarding Insurer's Failure To Pay Claim?
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FAQ
Colorado bad faith law allows policyholders to recover not only the amount of benefits wrongly withheld or denied but also double their damages and get reimbursed for attorney fees and other costs.
Colorado's bad faith insurance laws are detailed in Colorado Revised Statutes (CRS) 10-3-1115 and 10-3-1116, which covers prohibited actions, as well as remedies for infractions. As the law makes clear, insurance companies have a responsibility to handle claims in a timely, honest manner.
Third-party bad faith cases typically fall under three categories: Failure to defend. Your insurance company has a duty to provide an adequate defense on your behalf in lawsuit. ... Failure to settle. Your provider has a duty to pay for any damages of which you are found liable in lawsuits. ... Negligent handling of the case.
An insured party can also bring a claim for common-law bad faith by an insurance company. Under this claim, the insured party would allege that the insurance company acted unreasonably, and that it did so with knowledge of or reckless disregard for the fact that no reasonable basis existed for its action.
Insurance companies in Colorado do not have a specific amount of time in which they must settle an insurance claim. Instead, state law requires them to settle claims ?reasonably promptly?.
Can You Sue for Bad Faith Breach of the Insurance Contract? Yes. Under Colorado bad faith law, if an insurance carrier does indeed act unreasonably, the insured may be entitled to three times the amount of damages and attorney fees and costs. The statute that allows such damages is C.R.S.
Bad faith insurance refers to an insurer's attempt to renege on its obligations to its clients, either through refusal to pay a policyholder's legitimate claim or investigate and process a policyholder's claim within a reasonable period.
Information To Include in Your Letter Give the basics. Tell your story. Tell the company how you want to resolve the problem. Be reasonable. File your complaint. Your Address. Your City, State, Zip Code. [Your email address, if sending by email] Date.