What to do if your life insurance company is stalling?

We often see life insurance companies stalling. It is hard to say whether their actions are intentionally dilatory or whether they are simply understaffed.

Sadly, individuals often stand little chance of encouraging life insurance companies to respond promptly (or even respond at all).

Even as an experienced Florida life insurance attorney, it has sometimes taken me months of arguing with the insurance company and their counsel, along with involving the Department of Commerce, and grappling with open records request issues, before any progress is made.

Sometimes the only solution is to file litigation. However, there are laws in Florida that are intended to reduce this type of life insurance company misconduct.

For example, Florida Statues 626.9541 declares that the following are deceptive and unfair trade practices of insurance companies:

3. Committing or performing with such frequency as to indicate a general business practice any of the following:

a. Failing to adopt and implement standards for the proper investigation of claims;

b. Misrepresenting pertinent facts or insurance policy provisions relating to coverages at issue;

c. Failing to acknowledge and act promptly upon communications with respect to claims;

d. Denying claims without conducting reasonable investigations based upon available information;

e. Failing to affirm or deny full or partial coverage of claims, and, as to partial coverage, the dollar amount or extent of coverage, or failing to provide a written statement that the claim is being investigated, upon the written request of the insured within 30 days after proof-of-loss statements have been completed;

f. Failing to promptly provide a reasonable explanation in writing to the insured of the basis in the insurance policy, in relation to the facts or applicable law, for denial of a claim or for the offer of a compromise settlement;

g. Failing to promptly notify the insured of any additional information necessary for the processing of a claim;

h. Failing to clearly explain the nature of the requested information and the reasons why such information is necessary;

If you are struggling to obtain your life insurance proceeds please contact Florida life insurance attorney Mark Santi todat at msanti@santicerny.com.

Will my Ex-Spouse Remain a Beneficiary under my Life Insurance Policy in Florida?

Upon finalizing a divorce in Florida, the previous designation of your spouse as a beneficiary to your life insurance policy becomes void.  Fla. Stat. § 732.703(2).  The distribution of your life insurance proceeds will be administered as though your ex-spouse died immediately prior to your divorce. Id.  In this scenario, life insurance proceeds will go to any other beneficiaries listed on the policy or to your estate.

Various exceptions to the foregoing rule are identified under Fla. Stat. § 732.703(4).

Further, there may be steps a beneficiary needs to take to inform the life insurance company of the divorce to ensure the proceeds are paid to the proper beneficiary.

If you are a beneficiary who is having difficulty obtaining life insurance proceeds of at least $100,000, contact Mark C. Santi immediately at msanti@santicerny.com.

Mark C. Santi, Esq. graduated from the University of Miami–School of Law in 2007 where he was a member of (and President for) the prestigious Bar and Gavel Society.  Mark also earned the 1L, 2L, and 3L Volunteer of the Year awards.  For the next several years Mark practiced in South Florida and frequently appeared in Miami, Ft. Lauderdale, and Palm Beach courts.  Thereafter, Mark practiced in New York City and then in Minneapolis, Minnesota where he presently resides with his family.  For over 15 years Mark has represented Florida clients and often travels to the state.  Mark enjoys spending holidays with family at their home in Key Largo, Florida.