The failure to properly notify the insurance company presents a classic example of the need for sound legal advice. The typical insurance policy has a notice provision. The contract requires the insured individual or insured company to give timely notice of a claim. From the perspective of an insurance company, notice is important. Early investigation
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.