See the full video at https://youtu.be/ecm2FdbiZIE  The purpose of the implied agreement on good faith and fair trade is to protect the reasonable expectations of both parties to the agreement. The obligation to act in good faith is a mutual obligation imposed on both the insured and the insurer. But regardless of the clear statements in the law that the obligation is mutual, in practice it requires that the insured only deals with a measure of fairness towards the insurer while the insurer must deal with his insured in the utmost good faith.
In Washington, a charter provides:
Insurance business is affected by the public interest, which requires that all persons be affected by good faith, refrain from fraud and exercise honesty and justice in all insurance matters. The insurer, their suppliers and their representatives have the obligation to maintain an infringement of the insurance's integrity rests with the insurer. [RCW4801030
Even if an insured person is found to have treated his insurer maliciously and in bad faith, the insurer can only recover actual contract damages and may not in California recover punitive magicians from his insured. The courts will allow the insurer to compensate for the unbelievable damages inflicted on an insured by a percentage that the jury attributes to the insured's bad faith.
This statement in the law may seem unreasonable: if an insured person is entitled to damages for the insurer's misconduct, the law should justly and fairly allow the insurer to recover damages as a result of the insured's misconduct. At present, this is not the case.
Examples of insurances' incredible behavior include:
- presentation of a fraudulent claim;
- incorrect presentation of essential facts, as if the insurer knew it would have caused the insurer. to refuse the insurance; and
- intentional refusal to attend the trial.
Since the insurer's obligation is "absolute and independent", such misconduct would not prevent the insured's action. This may result in a comparative otro analysis of the actual examination and the reduction of all awards that the insured would otherwise have received. However, it would not lead to a reduction in punitive damages based on an insurer's harmful, oppressive or fraudulent conduct.
An insurer argued before the Sixth Circuit that the court should recognize a cause of reverse bad faith in the context of insurance and award the insurer damages in connection with the plaintiff's fraudulent claims. The defendants argued that there is a strong general policy against allowing insured persons to benefit from their own deeds while exposing insurers to excessive increased costs of investigation, defense and litigation.
© 2020 – Barry Zalma
Barry Zalma, Esq., CFE, now limits his practice to serving as an insurance consultant specializing in insurance coverage, insurance claims handling, cheating and insurance fraudsters almost equally for insurers and insurers . He also acts as an arbitrator or mediator for insurance-related disputes. He practiced law in California for more than 44 years as an insurance coverage and claims lawyer and more than 52 years in the insurance business. He is available at http://www.zalma.com and email@example.com.
Mr. Zalma is the first recipient of the first annual Claims Magazine / ACE Legend Award.
For the past 52 years, Barry Zalma has devoted his life to insurance, insurance claims and the need to defeat insurance fraud. He has created the following library of books and other materials to enable insurers and their claims staff to become professional in insurance claims.
Go to Barry Zalma videos on Rumble.com at https://rumble.com/c/ c-262921
Read posts from Barry Zalma at https://parler.com/profile/Zalma / posts
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Go to the insurance claims library – https://zalma.com/blog/insurance-claims-library/
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Read the last two issues of ZIFL here. https://zalma.com/zalmas-insurance-fraud-letter-2/
Go to the Barry Zalma, Inc. website here https://www.zalma.com/  Listen to my podcast, Zalma om försäkring, on:
https://podcasts.google.com/?q=zalma%20on%20insuranceZalma on Insurance –