Was Your Business' Insurance Loss History Updated?
Credit Loss History for Insured Businesses
Were you sued and your insurance covered it but it was not your fault? Have you had a property insurance claim and your insurance company kept the damaged property likely to sell it for salvage? If so, you may have been over-charged, possibly even illegally, and may be entitled to compensation. To find out if you eligible, fill out our free case review form today.
Crediting Loss History for Salvage and Subrogation
For decades, the insurance industry has priced insurance based upon prior loss experience. Insurers will estimate loss payments and loss adjustment expenses, including defense, as part of this historical information. Typically, prospective insurers look at 3 to 5 years of prior loss history. Often insurers will sell salvaged property, or subrogate liability claims and win, and not update loss history for an insured, so they over-pay for insurance for years.
Class Action Lawsuit
If your commercial insurer did not update your business’ loss history to reflect a recovery, you may be entitled to compensation. Fill out our free case review form today if you had a claim that:
- Was the fault of another party and whose insurer collected against said counterparty
- Involved property that had some salvage value and was sold as such
The class action lawyers working with our site are offering this online consultation at no cost and with no obligation.