Tag: insurance practices

How a Policyholder Took on USAA in Court and Won Big

Logan B.
USAA in Court

A Shocking Decision: $100 Million in Punitive Damages, $14 Million in Compensatory Damages Insurance giant USAA has landed in the spotlight after a Nevada jury handed down a monumental $114 million verdict in a bad faith lawsuit. The award, which includes $100 million in punitive damages and $14 million in compensatory damages, arose from its handling of a claim for policyholder Timothy Kuhn following a car accident in 2018. The jury’s decision underscores a growing tension between insurers’ claims-handling practices and their legal obligations to their customers, raising questions about…

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Safeco, Liberty Mutual, and the Lawsuit Challenging Insurer Accountability

Angela Linders
Safeco and Liberty Mutual Hail Damage Lawsuit

Safeco and Liberty Mutual Hail Damage Lawsuit Highlights Industry Challenges Hailstorms might last minutes, but their implications can drag on for years, especially when insurance claims come under scrutiny. A high-profile lawsuit in Oklahoma has brought Safeco and Liberty Mutual into the spotlight, raising questions about both policyholders’ rights and insurers’ responsibilities. While allegations of bad faith claims and branding confusion have fueled the debate, it’s worth examining the perspectives of all parties involved to uncover the complexities of this case. The Lawsuit Breakdown Ralph and Myrna Lightfoot of Oklahoma…

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Insurance Companies Under Fire After Tyler Perry’s Viral Post

Angela Linders
Tyler Perry from the Academy Awards

Tyler Perry’s Outrage Over Insurance Cancellations Hollywood mogul Tyler Perry recently expressed his frustration with home insurance companies canceling policies as Los Angeles battled catastrophic wildfires. His social media post highlighted what he described as “pure greed” from these insurers, pointing out the plight of homeowners left unprotected after faithfully paying premiums for years. Perry shared the heartbreaking story of a woman using a garden hose in a desperate attempt to save her 90-year-old parents’ home, which had lost its insurance coverage just before the fires. “Does anyone else find…

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The $37 Million Fumble: How a Lack of Insurance Cost the Jets Big Time

Nordstrom
man wearing Jetz helmet

Financial Fallout of a Missed Opportunity The New York Jets faced a significant financial setback when Aaron Rodgers tore his Achilles tendon just four snaps into the season. Without an insurance addendum in Rodgers’ contract, the team found itself unable to recover a portion of the $37 million in guaranteed money owed to the quarterback for 2023. This lack of foresight cost the Jets up to $22 million in potential insurance proceeds and deprived them of valuable salary cap relief. In the high-stakes world of NFL finances, the decision not…

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Insurance news from UK reveals investigation plans from regulator

H. Cutner
UK cyber Insurance industry News united kingdom

The FCA is now looking into the selling strategies many insurers are using with add ons. The Financial Conduct Authority (FCA) in the United Kingdom has made an insurance news announcement that it is investigating techniques being used by insurers for the sale of their products in order to increase their competitive powers. The study is being conducted specifically into the practices surrounding the add ons in the industry. The Chief Executive of the FCA, Martin Wheatley, first announced the insurance news at an industry conference that was held on…

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