Insurance carriers want the earliest possible notice of any claim. Investigation of the claim will be most effectively done while memories are fresh and evidence is available. In addition, an insurance company must financially account and plan for its expected losses by setting proper financial reserves. So it is no wonder that virtually all insurance policies include provisions that obligate the insured to place the carrier on notice of a loss as soon as practicable.But what happens when … [Read more...]
Got Questions?
August 17, 2010 by
These posts on the Mills & Associates Nevada Coverage & Bad Faith Law blog are published to provide useful insights on Nevada insurance law to our clients and other subscribers. Many times the topics are suggested by recent case law, or issues raised by litigation.As part of our ongoing effort to provide both timely and helpful information, we invite all our readers to submit issues which they would like to see addressed in future blog posts.Likewise, please submit questions … [Read more...]
Where Notice Of Claim Is Untimely, Get A Signed Non-Waiver Agreement Before Begining Your Investigation
September 1, 2009 by
Insurance policies require that an insured give the company notice of a claim as soon as possible. This gives the company the chance to investigate the claim, gather information, and determine whether coverage is appropriate while the evidence is still available.Where notice of a claim is untimely, some courts accept excuses for the delays, such as, a diligent insured who simply didn’t discovery the loss or an incapacitated insured. See Columbia Union Nat. Bank v. Hartford Acc. and Indem. … [Read more...]
