|PDF Title :||West’s Encyclopedia of American Law|
|Edition :||2nd Edition|
|Book Vol :||Volume 5|
|Total Page :||526 Pages|
|Author:||Jeffrey Lehman, Shirelle Phelps|
|PDF Size :||17.5 MB|
|PDF Link :||Available|
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West’s Encyclopedia of American Law
Insurance companies may be penalized for violating statutes or regulations. Penalties for misconduct include fines and the loss or suspension of the company’s business license.
In some states, if a court finds that an insurer’s denial of coverage or refusal to defend an insured in a lawsuit was unreasonable, the insurance company may be required to pay court costs, attorneys’ fees, and a percentage beyond the insured’s recovery.