The Tort of Bad Faith Was Created by Inadequate or Incompetent Claims Staff
As the Baby Boom generation retires insurers are obligated to hire new, young and inexperienced claims personnel out of a employment market where there are more jobs available than people needed to fill them. Insurers are faced with an effort to bring a new crop of graduates into the insurance profession. Since most insurer based insurance training departments have been eliminated there is a need for other means to train a new generation of claims professionals.
Insurance is a business of utmost good faith. Each party to the contract of insurance must do nothing to deprive the other of the benefits of the contract of insurance. To fulfill the covenant the insurer’s representative must understand contracts, the law of interpretation of insurance contracts, the law of torts, and what is needed to prove a claim for the insured to obtain the indemnity promised by the policy.
To assist the insurance industry Barry Zalma, Esq., CFE, an insurance coverage and claims consultant, has created a library of insurance claims books and internet based training programs to make it possible for insurers to develop a claims staff of insurance claims professionals.
The books described in this post need a home in each law office, each insurance company. each independent adjuster’s claims office and in the offices of every public insurance adjusting firm.
Barry Zalma’s Insurance Claims Library provides the insurance law and insurance claims information needed by every claims person and insured. They are available on amazon.com and at http://zalma.com/blog/insurance-claims-library/ or the individual links at each described book. Web based training is available at experfy.com and illumeo.com or you can have Barry Zalma present the training live to your personnel.
Barry Zalma has updated and re-edited his seminal work Construction Defects Coverage Guide into is the latest addition to Barry Zalma’s insurance claims series of books and articles that will form the most thorough, up-to-date, expert-authored insurance claims guide available today eight Kindle or Paperback Volumes at reasonable prices.
Thorough, yet practical, this series of books form the ideal guide for any professional who works in or frequently interacts with the insurance industry.
Claims professionals, risk managers, producers, underwriters, attorneys (both plaintiff and defense), and business owners will benefit greatly from the ten volume guide. It is also the perfect resource for insurance educators, trainers, and students whose role requires an understanding of insurance law.
The Eight volumes include:
- Volume One : The Structure, The Construction Contract, and Construction Defect Insurance — Kindle book; Paperback
- Volume Two:The Defects andUnderstanding Insurance and Underwriting – Kindle book; Paperback
- Volume Three: Construction Defect Policies – Kindle book; Paperback
- Volume Four: Liability Insurance. – Kindle Book; Paperback
- Volume Five: The Tort of Bad Faith and Construction Defects – Kindle book; Paperback
- Volume Six: Construction Defect Suits – Kindle book; Paperback
- Volume Seven: Tort Defences and the Trial of a Construction Defect Case – Kindle Book; Paperback.
- Volume Eight: Evaluation and Settlement & Alternative Dispute Resolution – Kindle Book; Paperback
This series of books is the latest addition to Barry Zalma’s insurance claims series of books and articles that will form the most thorough, up-to-date, expert-authored insurance claims guide available today.
Written by nationally-renowned insurance coverage expert Barry Zalma, a semi-retired insurance coverage attorney, consultant, expert witness and blogger, Mold Claims provides in-depth explanations, analysis, examples, and detailed discussion of:
•Mold, fungi and bacteria claims; and
•Mold, Fungi, Bacteria litigation.
Thorough, yet practical, this series of books form the ideal guide for any professional who works in or frequently interacts with the insurance industry or is involved in litigation. Claims professionals, risk managers, producers, underwriters, attorneys (both plaintiff and defense), and business owners will benefit greatly from the mold volumes. It is also the perfect resource for insurance educators, trainers, and students whose role requires an understanding of insurance law as it relates to mold, fungi and bacterial infestations.
The author has provided checklists, sample procedures, form letters, tables and information and references to model statutes, state statutes, administrative regulations, and requirements of insurance departments nationwide.
The Law of Unintended Consequences and the Tort of Bad Faith
The concept of unintended consequences is one of the building blocks of economics. Adam Smith’s “invisible hand,” the most famous metaphor in social science, is an example of a positive unintended consequence.
Most often, however, the law of unintended consequences illuminates the perverse unanticipated effects of legislation and regulation. In 1692 the English philosopher John Locke, a forerunner of modern economists, urged the defeat of a parliamentary bill desi
gned to cut the maximum permissible rate of interest from 6 percent to 4 percent. Insurance is controlled by the courts, through appellate decisions, and by governmental agencies, through statute and regulation. Compliance with the appellate decisions, statutes, and regulations—different in the various states—is exceedingly difficult and expensive.
The business of insurance is, unfortunately, subject to the law of unintended consequences as if it were on steroids.
“Insurance Fraud & Weapons to Defeat Insurance Fraud”
In Two Volumes
Insurance fraud continually takes more money each year than it did the last from the insurance buying public. No one knows the actual amount with any certainty because most attempts at insurance fraud succeed. Estimates of the extent of insurance fraud in the United States range from $87 billion to more than $300 billion every year.
Insurers and government backed pseudo-insurers can only estimate the extent they lose to fraudulent claims. Lack of sufficient investigation and prosecution of insurance criminals is endemic. Most insurance fraud criminals are not detected. Those that are detected do
so because they became greedy, sloppy and unprofessional so that the attempted fraud becomes so obvious it cannot be ignored.
No one will ever be able to place an exact number on the amount lost to insurance fraud. Everyone who has looked at the issue knows – whether based on their heart, their gut or empirical fact determined from convictions for the crime of insurance fraud – that the number is enormous.
When insurers and governments put on a serious effort to reduce the amount of insurance fraud the number of claims presented to insurers and the pseudo-government-based or funded insurers drops logarithmically. Since the appointment of Attorney General Sessions, the effort to stop insurance fraud against Medicare and Medicaid has increased.
This book contains appellate decisions regarding insurance fraud from federal and state appellate courts across the country and full text of many insurance fraud statutes.
It is available as both a legal research tool and a product to assist insurers, insurance company personnel, independent insurance adjusters, special investigation unit investigators, state fraud investigators and insurance lawyers to become effective persons involved in the attempt to defeat or reduce the effect of insurance fraud.