Colorado recently enacted a law that provides remedies against insurance companies for unreasonably delaying or denying a claim. The new law, House Bill 08-1407, provides meaningful remedies to those who have had claims unreasonably denied or delayed by insurance companies. The law applies to the following types of insurance: auto, home, health, disability. It may apply to other types of insurance, but the law does not apply to workers’ compensation, life insurance or title insurance.
Prior to the enactment of this law, injured people were at a huge disadvantage in bringing claims against insurance companies, largely because the cost of bringing the lawsuit outweighed the potential benefits of obtaining a recovery. House Bill 08-1407 gives people the power to take legal action when insurance companies fail to pay their claims in a reasonable and timely manner. Potential remedies under the law include past benefits owed, double damages, and attorneys’ fees. So if you have a claim worth $35,000.00, and you prove the insurance company unreasonably delayed or denied paying the claim, then under House Bill 08-1407 you could receive double the $35,000.00, plus your attorney’s fees.
Unfair Claims Settlement Practices Act
Under the Unfair Claims Settlement Practices Act in Colorado, insurance companies are required to act in good faith by following these practices:
- The insurance company must acknowledge your claim.
- The insurance company must act promptly in response to your communications.
- The insurance company must investigate your claim promptly.
- The insurance company must not delay the process with extra forms.
- The insurance company must provide plausible reason for delays or non-payment.
- The insurance company must evaluate your claim fairly.
- The insurance company cannot deny your claim without giving a valid reason.
When you have been injured in an auto accident, trucking, motorcycle, or other accident, the policy you purchased should provide you the coverage you bargained for, but insurance companies regularly deny or delay payment of claims for no good reason. If this has happened to you, contact Colorado Personal Injury Attorney Gregory A. Hall to discuss your case with him. Mr. Hall will stand up for your rights and help you get what you deserve.
If you believe an insurance company has unreasonably delayed or denied your claim please contact: http://www.adenverpersonalinjuryattorney.com/
Gregory A. Hall
A Colorado Personal Injury Attorney
3570 E. 12th Avenue, Suite 200
Denver, CO 80206
Phone: 303-320-0584
Email: gregory@federallaw.com