Defendant's Attorney: Bradley Lawrence Waldman

Description: Brooklyn, New York insurance law lawyers represented the Plaintiff who sued the Defendant on a bad faith beach of insurance contract theory.

"Bad faith breach of insurance law in New York is when an insurance company fails to act in good faith when investigating, evaluating, or settling a claim. This can include a variety of actions, such as:

Unreasonably delaying or denying a claim
Failing to properly investigate a claim
Underpaying a claim
Refusing to settle a claim within the policy limits, despite a strong likelihood of a judgment in excess of the policy limits

In order to prove a claim of bad faith breach of insurance law, the policyholder must show that the insurance company acted in a manner that was unreasonable, arbitrary, or capricious. The policyholder must also show that the insurance company's actions caused them damages.

If a policyholder is successful in proving a claim of bad faith breach of insurance law, they may be entitled to a variety of damages, including:

The amount of the original claim
Interest on the original claim
Attorney's fees
Punitive damages

Punitive damages are awarded to punish the insurance company for its egregious conduct and to deter other insurance companies from engaging in similar conduct.

Here are some examples of bad faith breach of insurance law in New York:

An insurance company denies a claim for homeowners insurance benefits after a fire, even though the policyholder has all the necessary documentation to support their claim.
An insurance company delays paying out a life insurance policy to the beneficiaries, even though the insurance company knows that the beneficiaries need the money to pay for funeral expenses.
An insurance company refuses to settle a personal injury claim within the policy limits, even though the insurance company knows that there is a strong likelihood that the policyholder will receive a judgment in excess of the policy limits.

If you believe that your insurance company has acted in bad faith in handling your claim, you should contact an experienced insurance attorney to discuss your legal options."

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Outcome: 10/04/2023 16 STIPULATION Of Dismissal: The above-captioned is voluntarily dismissed with prejudice against the defendant Geico General Insurance Company, pursuant to the Federal Rules of Civil Procedure 41(a)(1)(A)(ii). SO Ordered by Judge Eric N. Vitaliano on 10/3/2023. (JT) (Entered: 10/04/2023)

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