Commercial Business Insurance Disputes – VeriClaim
Insurance Claim Dispute With VeriClaim?
If you have an insurance policy through a surplus lines insurer, your insurance company will need to assign any claim you file to an independent adjuster to assess the property damage. VeriClaim is a loss adjusting and claims management company that is often used by surplus insurers. Frequently, VeriClaim works with groups like Underwriters at Lloyd’s of London to handle and adjust their claims.
Many policyholders are discovering that their commercial property insurance claims are being grossly underestimated or completely denied based solely on VeriClaim’s investigations. Since the valuation of a claim can rest solely on VeriClaim’s shoulders, they have a duty to effectuate a fair and equitable claims resolution, but this doesn’t always happen. VeriClaim often uses unfair tactics when assessing claims that severely limit policyholders’ claims payouts.
Reasons VeriClaim Might Undervalue or Deny Your Claim:
- Your property damage is considered normal “wear and tear”
- Your property damage doesn’t fall under the terms of your insurance policy
- Age or disrepair of the property
- The damage was caused by improper maintenance
- The damage was below the amount of the deductible
- The property was not up to state and local building codes
The Texas Insurance Code states that no claim can be denied without conducting a reasonable investigation of the claim and providing a reasonable explanation of the denial. Doing so is a violation of both the Texas Insurance Code and the Texas Deceptive Trade Practices-Consumer Protection Act (DTPA), a state consumer protection law that aims to provide financial relief to consumers who are victims of deceptive, improper, or illegal practices.
If your commercial property insurance claim has been grossly undervalued or completely denied based on a VeriClaim investigation, our insurance trial attorneys can help. We have extensive courtroom experience handling insurance litigation claims from inception through trial and appeals. We know the complex legal issues involved in insurance law, and we have successfully dealt with VeriClaim in many of our cases.
Experienced Bad Faith Insurance Claims Attorneys
The attorneys at Raizner Slania have earned a national recognition as trial attorneys who help policyholders obtain the compensation they deserve. We hold insurance companies accountable for rightful claims denied in bad faith. We handle insurance cases on a contingency fee basis, meaning you owe us anything unless we help you recover financial damages. Call us today for a free and confidential review of your case.