Related Essays

  • Kontosis Case Conceptualization Paper

    Vol., 2015 Suppl.), § 15-501 of the Insurance Article (“INS”) was inapplicable to this case. We shall address these arguments in turn. Subtitle three of ...

  • Understanding Bad Faith Claims Against Insurance Companies

    In the circumstances of an insurance agreement, the insurance firm is required to fully pay off the consumer in a suitable time when assign a source to a par...

  • Saskpower Case Summary

    SaskPower should have gone for indemnity. This means the agreement by Sensus to hold the financial losses of SaskPower under certain specified circumstances....

  • Innocent Third-Party Rule Case

    The Court of Appeals rejected these claims and said that Titan did, indeed, extend to mandatory no-fault benefits and that the easily ascertainable rule and ...

  • Sandusky And Pearce Case Summary

    Regardless of the settlement offer reached by the codefendants with the plaintiff’s attorney, it was the position of HAPI (CRC Panel), their defense counsel ...

  • Importance Of Negligence Under Consumer Protection Law

    It is on a footing different from any other kind of negligence. Under consumer

  • Ronald Vaden V

    The court referred to previous cases and one in particular, Tonkovic vs. State Farm Mutual. The insured again had requested a disability policy that would pa...

  • Amica Controversy

    (“[A]n insurer’s duty to defend is distinct conceptually from its duty to indemnify, i.e. its obligation to pay a judgment.”). The duty to defend the insured...

  • Australian Consumer Law Essay

    Australian Consumer Law-An overview, unfair contracts, consumer guarantees and remedies, In Au tralian Consumer Law, (pp.

  • Morgan Cab Co. V. Industrial Comm

    v. Bill’s Builders, Inc., there are no executed and signed documents between the parties that would demonstrate an intent on behalf of the Petitioner to be ...

  • Shuffle
    Toggle On
    Toggle Off
  • Alphabetize
    Toggle On
    Toggle Off
  • Front First
    Toggle On
    Toggle Off
  • Both Sides
    Toggle On
    Toggle Off
  • Read
    Toggle On
    Toggle Off
Reading...
Front

Card Range To Study

through

image

Play button

image

Play button

image

Progress

1/5

Click to flip

Use LEFT and RIGHT arrow keys to navigate between flashcards;

Use UP and DOWN arrow keys to flip the card;

H to show hint;

A reads text to speech;

5 Cards in this Set

  • Front
  • Back
What is the purpose of the Unfair Claim Settlement Practices Act?
Designed to help guarantee that no insurer doing business in TX engages in unfair claims settlement

Unfair settlement practices: not settling with insured when you should

It is a tie-in-statute; an insurer who commits prohibited practice under this article violates DTPA
What does Ch. 542 cover?
Prompt payment of claims

Notice of claim: insurer must respond to claim not later than 15th day after receipt fo notice of claim or on 30th business day if insurer is an eligible surplus lines insurer

Must accept or reject claim within 15 days

If unable to accept or reject, can extend 45 days
If an insurer fails to accept or reject a claim within allotted time limits, what result?
Penalty.

Liquidated damages to complaint; delay results in 18% penalty plus attorneys’ fees
Describe the common law duty of good faith that the insurer has?
Insurer has duty of good faith and fair dealing with respect to insured [tort duty]; ensure ‘prompt, fair, equitable’ settlement

Same as Chapter 541 (duty of good faith), but here it’s a tort

If there is bona fide dispute about coverage, denial of claim will not be in bad faith
What is the Stowers Doctrine?
Relates to third party claims.

If claimant offers to settle for policy limits, when liability is reasonably clear, insurer has duty to settle (or else assume Stowers liability: wrongful refusal to settle subjects insurer to all damages)