HAPPY BIRTHDAY to the Unfair Claims Settlement Practices Act! Thirty-five years ago today, our Kentucky state legislators met and voted UNANIMOUSLY to pass the Unfair Claims Settlement Practices Act.
This law leveled the playing field for all citizens of the state against insurance company claim practices. No longer could insurance companies leverage the unequal bargaining position they had against someone financially distressed because a terrible event had occurred in their life. No longer could insurance companies take advantage of the immediate need for money that stems from accidents, deaths, disability and life‘s tragedies! It put an end to insurance companies delaying claims unreasonably until they can save money.
The fight continues at Mehr, Fairbanks & Peterson to enforce these laws and to stop insurance claim abuses. There continues to be inappropriate motivations and lack of training of claims personnel to, first and foremost, be fair and prompt in claim payments.