Oklahoma insurance companies are expected to act in good faith. The law requires that claims be handled fairly. The Oklahoma Supreme court has said claims must be timely paid. The Oklahoma legislature passed the Unfair Claims Settlement Practices Act that sets out minimum standards. Adjusters are required to act fairly and comply with Oklahoma law.
An apartment complex sustained a fire loss to its business and hired a public adjuster to assist in preparing the property damage claims. Subsequently, the apartment complex assigned its interest in the bad faith claims against the insurance company and insurance agency to the public adjusting company and, in turn, the public adjuster filed suit
A husband and wife purchased a home in which the mortgage holder carried the property insurance policy in the name of the mortgage company. At some point, the couple’s home was damaged by a water leak resulting in significant flooding to their home. The homeowners submitted a claim to the insurance company requesting payment for
An insurance company was sued for breach of contract and bad faith and received summary judgment by the trial court. The insured appealed to the Oklahoma Court of Civil Appeals who affirmed in part and reversed in part the trial court’s ruling holding that while a breach of contract did exist since the insurer denied
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
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
Oklahoma lawyers suing insurance companies for breach of contract in first-party cases find themselves limited by the damages which can be awarded for breach of contract. Under 23 O.S. § 21, the measure of damages for breach of contract is the amount which will compensate a party for the damage. In Osborn v. Comanche Cattle Industries, Inc.
