Insurance Recovery Lawyer Chicago IL
Is your insurance company refusing to pay for a treatment that should be covered by your policy? Has your home been damaged after a natural disaster, or has your car been totaled in an accident, or have you undergone an expensive medical treatment — but insurance adjusters are refusing to compensate you for your loss? Nothing is more frustrating for a policyholder than being denied insurance coverage after years of paying high insurance premiums.
As insurance recovery lawyers, we at Childress Loucks & Plunkett know what it’s like to be in this situation. We know how troublesome and scary it can be. Insurance companies are for-profit companies. It is their job to pay out as little as possible in claims, which means it is unfortunately common for these businesses to not do what is right and honor a policyholder’s claim. When a valid claim is denied, often without a reason or explanation, a dispute is likely to occur.
Another way for a dispute to occur is when an insurance company fails to pay a medical provider the money they are entitled to from policyholders. This can occur in states that have no-fault insurance, otherwise known as personal injury protection, or PIP. Furthermore, it is beneficial for an insurance company when their policyholder does not file or collect on a claim that has been submitted under their own policy (i.e. by a hospital, clinic, etc.).
There are even insurance companies that are known to habitually deny claims and will only investigate the situation when legal action is taken. The legality of this is another story. What is important to understand right now is that when something like this happens to you, an insurance recovery lawyer may be able to help. To learn more now, call Childress Loucks & Plunkett.
At our firm, we have a solid legal team of insurance recovery lawyers and support staff who have decades of experience in recovering insurance benefits for clients who have been wrongfully denied.
Level the Playing Field with a Lawyer on YOUR Side
You can count on your insurance company having substantial resources, including round-the-clock lawyers who will be ready to protect their own interests. They might even hope that you will give up on your claim and try to find another way to cover your losses. This is simply an unacceptable business practice to the Chicago IL insurance recovery lawyers at Childress Loucks & Plunkett. Rest assured, we have the resources, skill, and tenacious determination needed to assess your case and level the playing field against the insurance company that was supposed to protect you.
Reasons Why Your Insurance Claim May Have Been Denied
It is widely known in the legal profession that insurance companies have a tendency to manipulate and interpret the language used in their own policies in order to reduce the value of a claim, or deny it altogether. To come to this “conclusion,” an insurance adjuster might allege that:
- The damages are less than what you are claiming
- The damages are below the value of the deductible
- The loss is not included in your policy
- “Independent experts,” or “adjusters” for the insurance company have concluded that no loss occurred, or is not within the boundaries of the policy
- You have lied or commited fraud
Learning that you have been refused a valid claim can be devastating. For many people a denial of a claim is not just about money, but also time. Stress, worry, and anger may also come with this unwarranted decision — but there is hope. You may be able to recover your losses with the help of an insurance recovery lawyer.
Disputes Our Firm Handles
We are committed to helping every client settle a dispute with their insurance company as swiftly as possible. Guided by decades of experience, we have handled countless insurance dispute claims including, but certainly not limited to:
- PIP claims
- Homeowner claims
- Motor vehicle claims
- Recreational vehicle claims
- Fire claims
- Natural disasters
- Business losses
- Bad faith claims
Call Childress Loucks & Plunkett to Speak with a Lawyer You Can Trust
If you believe you are being defrauded by your very own insurance company, please don’t hesitate to give us a call to speak with an insurance recovery lawyer Chicago IL residents trust. We’ll listen to what you have to say and let you know what options may be available.
Answers to Frequently Asked Questions About Bad Faith Claims
The term “bad faith” sounds religious or philosophical in nature, but it is actually a legal term. One does not ordinarily associate the concept of faith with the law. But in a legal context, the idea of faith relates to fulfilling contractual obligations. To behave in “good faith” generally means that you have done your best to fulfill your side of a contractual bargain. To behave in “bad faith” generally means that you have intentionally failed to uphold your side of things. An experienced Chicago, IL insurance recovery lawyer can answer any questions you may have about this distinction.
What Is Bad Faith as it Relates to Insurance?
When speaking in terms of insurance claims, an insurance company may behave in bad faith by intentionally rejecting a claim that is covered under a policyholder’s account or by behaving in a number of ways that may be characterized as dishonest. For example, an insurer may not reject a claim outright but significantly discount the payment amount a policyholder is entitled to. If this action is taken without a reasonable basis, this behavior may be considered bad faith by a court. Similarly, delaying payments without a reasonable basis, failing to thoroughly investigate claims, misrepresenting either the law or the language contained within an individual’s policy and/or making unduly burdensome requests for documentation related to a claim all may be considered bad faith behaviors. Thankfully, a Chicago, IL insurance recovery lawyer can help you to “fight back” when insurance companies behave illegally in ways such as these.
Are there Legal Options for Policyholders Harmed by Bad Faith Actions?
Policyholders affected by bad faith actions on the part of insurance companies may be able to file lawsuits related to their situations with the assistance of an Chicago, IL insurance recovery lawyer. Bad faith claims may result in damage awards that exceed the amount requested in an original insurance claim. This reality helps to ensure that insurance companies are held properly accountable for behaving in bad faith as opposed to simply allowing them to “make good” on a claim as originally submitted. The kinds of damage awards potentially available differ from case to case. As a result, individuals interested in filing a suit should speak with a Chicago, IL insurance recovery lawyer about what they might expect from the process and its outcome based on their specific circumstances.
When Is it Permissible for Insurance Companies to Deny Claims?
Legally, an insurance claim may be denied in good faith if the policyholder’s situation is not covered by the terms of his or her policy, the claim has been compromised by fraud and/or the policyholder violated the insurance contract in a significant way. Other exceptions may apply as well, depending on the situation.
In what ways can an insurance recovery lawyer in Chicago IL protect my business?
If you would like to know more about the legal services offered by our insurance recovery lawyer in Chicago IL, contact Childress, Loucks, & Plunkett. We have represented individuals and businesses in the Chicago area for many years. If you own a family business, or are a medium to large sized company, we can advise you on insurance matters in order to protect your firm’s best interests and bottom line. Our insurance recovery lawyer in Chicago IL offers a wide range of legal services including:
- Guidance in selecting and negotiating insurance coverage to protect your company.
- Represent your company when negotiating and resolving disputes involving covered losses.
- Pursue litigation against an insurance carrier that acts in bad faith after your company files a valid claim.
- Provide guidance to the company’s decision makers regarding restructuring efforts involving captive insurance carriers, compensation received for insured losses, and settlement funds.
- Determine optimum factors for creating structures that are dedicated to fund potential liabilities.
- Resolution of insurance disputes.
- Assistance with preserving or recovering insurance coverage assets in the wake of third-party damage claims.
- Filing of claims for losses related to environmental liability, product liability, toxic tort, cyber-related losses, trademark or copyright claims, patent, business interruption, mortgage insurance, physical damage, or commercial disputes.
What Chicago IL industries does and insurance recovery lawyer from Childress, Loucks, & Plunkett represent?
Childress, Loucks, & Plunkett represents clients in a wide range of industries who are in need of recovering insurance compensation for their losses. Here is an incomplete list of industries we serve:
- Food and beverage
- Financial services
- Life sciences
Asset Protection and Recovery
Our insurance recovery lawyer also represents clients in Chicago IL who are in need of asset recovery. For some that involves financial reporting. For others, asset protection and recovery may involve taxes and securities in relation to insurance and other liabilities. Talk to our insurance recovery lawyer if you are located in Chicago IL and wish to know more about these services that we offer.
How can an insurance recovery lawyer in Chicago IL be of assistance?
The preparation and submittal of insurance claims in the aftermath of a major loss can be frustrating and time consuming. Inevitably, the necessary paperwork and personnel hours needed to complete those tasks occurs when time and other resources are best spent on mitigating the loss itself. What can further complicate the process is a general lack of experience in handling the claims, particularly when the insurance carrier refuses to act in good faith. Many business owners become stuck at that point. Childress, Loucks, & Plunkett is available to step in at times like these and provide the legal guidance necessary for a fast recovery. Our insurance recovery lawyer assists companies based in Chicago IL that need to accelerate the timeline in recovering their damages. We have enjoyed tremendous success in negotiating maximum settlements for companies that previously had their claim denied by their insurance carrier.
Answers to Additional Questions
If you have questions about bad faith insurance claims, please do not hesitate to reach out Childress Loucks & Plunkett. Lawyers experienced in matters involving bad faith will be able to advise you of your legal options once they have listened to the details of your situation. Not every insurance claim that is rejected is done so in bad faith. But too often claims are rejected in bad faith and individuals are unaware that they have the legal power to challenge their insurance company’s decision. Please consider reaching out to a Chicago, Illinois insurance recovery lawyer if you have questions. It is far better to become fully educated about your options than to remain in the dark.