Facts to Know about the Insurance Fair Conduct Act

Insurance
IFCA and Bad Faith Claims

Unless you have recently filed a claim with an insurance company, you may be unaware of the Insurance Fair Conduct Act (IFCA). The IFCA took effect December 2007 here in Washington, and it is designed to protect policyholders when their insurance company unfairly or unjustly denies their insurance claims. However, the IFCA is a misunderstood…

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How to Fight Back against Bad Faith Insurance Acts

Insurance
insurance claim

You pay your premiums with your insurer on time, and in return, you expect that your insurance company will be there when you file a claim. After all, the point of investing in insurance is that it is there for you, even if you are at fault. However, what should you do when your insurance…

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Steps to Completing a 20-Day IFCA Notification for a Lawsuit

Insurance
IFCA and Bad Faith Claims

To file an IFCA (Insurance Fair Conduct Act) claim, you must provide your notice of intent. The notice of intent tells the insurance company as well as the OIC (Office of the Insurance Commissioner) that you will file your lawsuit within a 20-day period. If you do not file the notice of intent, you cannot…

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What is the Insurance Company’s Nuisance Value of a Case?

Insurance
calculating value of case

Insurance companies are businesses; therefore, they are extremely cautious when it comes to determining settlement value in a case. Sometimes, the nuisance value of a settlement enters into play, especially when there are multi-million-dollar settlements on the table. What is the Nuisance Value? Insurance claims adjusters might think that a claim is worth nothing, but…

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Understanding the 20-Day IFCA Notification Requirement

Insurance
20-Day IFCA Notification Requirement

If you feel that your insurance company is unreasonably denying your claims or operating in bad faith, you may be able to file a lawsuit under the Insurance Fair Conduct Act (IFCA). However, under IFCA, you must adhere to strict timeframes and protocols. Otherwise, your case will be dismissed and you may be forced to…

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When Third Party Liability Insurance Acts in Bad Faith, Does IFCA Apply?

Insurance
third party liability insurance

The Insurance Fair Conduct Act (IFCA) was established by Washington State voters in 2007. It was created as a level of protection for consumers that levies penalties against insurance companies for misconduct. More importantly, consumers will not shoulder the financial burden of holding insurance companies accountable, and they can receive payment for treble damages and…

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Understanding IFCA and Bad Faith Claims

Insurance
IFCA and Bad Faith Claims

If your insurance company denies a claim for benefits, and you are legally entitled to those benefits, then you may have the opportunity to file a Bad Faith Claim against the insurance company. Understanding the IFCA The Insurance Fair Conduct Act (IFCA) is legislation that was created to ensure insurance companies comply with all requirements…

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Important Things to Know About Bad Faith Insurance Claims

Insurance
Bad Faith Insurance Claims

An insurer promises to be there for a consumer in his or her time of need. That is, after all, why a person purchases insurance. Unfortunately, not all insurers are there as much as they claim, and some will abandon their customers the moment when a claim is filed. That is because an insurer is…

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