Bad Faith Insurance Claims

The Maguire Law Firm — Myrtle Beach, South Carolina

An insurance policy is a binding contract between you (the Insured) and your insurance company (the Insurer), and you uphold your end of the contract by paying premiums. You assume that you will receive the financial compensation you are due when those unforeseen crises or accidents occur for which you are covered. However, when your insurance company fails to hold up their end of the contract by unreasonably denying benefits to which you are entitled, they are acting in bad faith. In the state of South Carolina insurance bad faith is illegal.

If your insurance company is acting in bad faith by wrongfully denying an insurance claim you deserve, the Maguire Law Firm will be steadfast in our dealings with them to get you the compensation you deserve. Call our toll free number at (800) 525-9900 or contact us online. We offer free initial consultations and flexible appointment scheduling for your convenience. Serving the residents of Horry, Georgetown, and Marion counties in South Carolina. Our staff understands the intricacies of the South Carolina insurance laws and we seek to get you the justice you deserve.

Bad Faith Insurance Practices

Insurance companies are regulated by state law and are supposed to honor their policies. While there are legitimate reasons to deny a claim, such as when the insured is in default with the insurance contract, or where the claim is not covered by the policy, insurance companies have financial incentives to keep payments to a minimum -- and that incentive too often results in unreasonable denials of benefits. Surprisingly, a very small percentage of the insured will dispute a denial.

When insurers unfairly deny benefits, you may be entitled to bring a bad faith claim. Bad faith insurance company violations include:

• Failure to promptly and thoroughly investigate and respond to a claim;
• Delay of payment for an unreasonable amount of time;
• Unreasonable and wrongful denial of a claim;
• Incorrect interpretations when translating the insurance coverage;
• Refusal to settle the case.

South Carolina Department of Insurance

The South Carolina Department of Insurance is the regulating body for the insurance companies. Their mission is to "protect the insurance consumers, the public interest, and the insurance marketplace by ensuring the solvency of insurers; by enforcing and implementing the insurance laws of this State; and by regulating the insurance industry in an efficient, courteous, responsive, fair, and equitable manner."

The department provides services to consumer needs relating to all types of insurance, assists consumers with helping to locate hard-to-place insurance coverage, assists consumers following a catastrophic event, and accepts insurance complaints.

South Carolina does not have a mandate that a consumer be offered insurance, and the consumer must shop around to find a company that will insure them. However, according to the South Carolina Financial Recovery and Protection act insurance companies must follow specific, stringent timelines when managing claims. The requirements cover payment of a claim, denial of a claim, and timelines for contacting consumers regarding their claim.

Where Your Best Interest is What Matters

Insurance bad faith, is in effect a breach of your insurance policy contract with your insurer, and is a dishonest, deceptive and illegal practice. The Maguire Law Firm is dedicated to the preservation and protection of your rights against the insurance companies that disregard the laws and your needs in order to preserve their own financial gain.

Contact Us

To reach us in the Myrtle Beach South Carolina area call, 843-361-7549 or, use our toll free number at (800) 525-9900. You can also contact us online. We offer free initial consultations and flexible appointment scheduling for your convenience.