Insurance Law May Change

Ed Van Dorn

Contributor

0 CommentsPrint ArticleSubscribe

Yesterday an attorney from our office, Christina Rousseau testified before the New Hamphsire Senate Commerce, Labor and Consumer Protection Committee on behalf of a proposed law to make insurance companies subject to the New Hampshire Consumer Protection Act. Presently insurance companies are exempt from this law that imposes penaties on businesses that engage in consumer fraud or bad faith. During her testimony she told the Committee the stories of several of our clients who have been subjected to bad faith practices by insurance companies. The bill passed the Committee by unanimous vote and now will be sent to the full Senate for consideration. We are very proud of the work Cristina did before the Committee.

Many folks have usually have been seriously injured and are in financial straits when dealing with the insurance companies. It is particularly disgraceful when the companies take advantage of the claimant's vulnerable position to avoid honoring the obligations they have assumed under the insurance policies they issue. These companies never fail to collect every penny they are due as premiums for the policies. But when its time to pay claims under them, well that's a different story. If the law passes there will be penalties for insurance companies to pay including triple damages and attorneys fees if they are found to be acting in bad faith when denying or unduly delaying payment of claims.