Speak with a Chicago injury attorney at Willens Law Offices if your insurance company is giving you the run-around.
Insurance companies make most of their money off their investments. Although insurance companies will tell you that rate increases reflect payouts or other changed conditions, the truth is that most increased rates are related to poorly performing investments, which is why changing medical malpractice rules to reduce payouts (tort reform) isn’t correlated with lower rates for doctors’ medical malpractice insurance. Tort reform only results in increased profits for insurers and fewer rights for victims.
The Reason for Delay
Another aspect of making money off investments is that delay benefits insurance. The longer they can keep money invested, the more interest and profit they will earn. As such, they have developed many tactics for delaying payment of your legitimate car accident or other claim. They may have every intention of paying you, but they have no intention of doing it quickly.
Insurance claims adjusters may seem friendly, but they are paid by the insurance company. They are not your friends. They are not your advocates. They are not your counselors. They are there to profit the insurance company. Worse, they have supervisors standing over their shoulder, making sure they are doing everything in their power to protect insurance company’s profits. This means that they should deny every claim possible, but delay every single claim.
How to Respond to Delay
However, you are not completely powerless. If you feel you are getting the run-around for your insurance claim, a lawyer may be able to help. We can file lawsuits against an insurance company on the basis of:
- Breach of contract
- Breach of covenant of good faith and fair dealing
- Bad faith
However, the proper response to your situation can only be determined after a thorough review of your policy and situation.