Unfair Claims Settlement Practices

Unfair Claims Settlement Practices refer to actions by insurance companies that improperly delay, deny, or undervalue legitimate claims without proper reason. These practices can include ignoring valid evidence, refusing to settle fairly, or using deceptive tactics to avoid paying what is owed. Regulations are in place to ensure insurers handle claims honestly and promptly, protecting consumers from unjust treatment. When insurers engage in such unfair practices, policyholders may seek legal remedies or file complaints with regulatory agencies to ensure fair resolution of their claims.