What does bad faith mean in insurance?

Bad Faith in insurance means that the insurance company has acted in a way that is prohibited by statute. An insurance company has obligations to act in a particular manner and failing to do so means that an act of bad faith has been committed. The bad faith statute in Kentucky is Kentucky Revised Statute 304.12-230. It requires things like a timely investigation, not forcing insureds to litigation, and not trying to make good faith settlement offers to resolve a case. A personal injury lawyer is the type of lawyer that pursues insurance companies for bad faith. Bad faith also occurs when an insurance company fails to protect their insured. Insurance companies do this by taking unnecessary risks and placing the personal assets of their insureds subject to taking. Taking a really long time to pay a claim after making a bunch of lowball offers can also be considered bad faith in Kentucky.

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