An Oklahoma insurance company’s reliance upon a legal opinion that there was no payment due under the policy did not prevent a judgment for bad faith and punitive damages. In Barnes v. Oklahoma Farm Bureau Mutual Ins. Co., 2000 OK 55, 11 P.3d 162, the insurer purportedly obtained a legal opinion from an
October 2009
Failure To Obtain A Legal Opinion Can Be Bad Faith
By Steven V. Buckman on
Posted in Bad Faith
Bad faith can result in Oklahoma from failing to obtain a legal opinion before denying coverage. In Harrell v. Old American Ins. Co., 1991 OK CIV APP 91, 829 P.2d 75, a claims examiner failed to seek legal advice regarding a coverage question before denying payment. The Oklahoma Court of Appeals said it was…
Insurance Agent Responsible For Failing To Obtain Coverage
By Steven V. Buckman on
Posted in Agent Negligence, Liability
An insurance agent was held responsible for failure to obtain workers’ compensation coverage. In a blog post by Tred Eyerly, a summary of the decision is set forth. Essentially, the agent held herself out as an expert on insurance for certain types of automotive dealerships. The plaintiffs purchased insurance without specifying any particular type of…
Oklahoma’s Statute Of Limitations For Contracts
By Steven V. Buckman on
Posted in Property Insurance
The statute of limitation under 12 O.S. § 95 requires that a lawsuit for breach of contract must be brought within five years if the claim arises from a written contract and within three years if the dispute comes from a contract not reduced to writing. The time in which to file the lawsuit starts at…
What Is A Statute Of Repose?
By Steven V. Buckman on
Posted in Property Insurance
A statute of repose as well as a statute of limitation is a legislative means of ending or terminating the time in which a lawsuit may be brought. "In practical terms, a statute of repose marks the outer time boundary for judicial enforcement of a substantive right whereas a statute of limitation interposes itself only…