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Many property owners have policies issued by the Hanover Insurance Group, a large insurer that advertises its insurance offerings as innovative and flexible specialty insurance solutions to help protect the businesses of their policyholders. They promise to protect buildings, inventory, equipment, business income, and other valuable assets from natural disaster, hail, fire, theft, and other damage. Yet, despite their marketing, many Hanover policyholders come to find that coverage under their policy is less than what the company promised in the event of property damage. Our experience with Hanover indicates that the insurance company commonly undervalues property damage claims, a problem that is not limited to just Hanover, but which is troubling, nonetheless, since they market their products as highly innovative and flexible, suggesting that policyholders can count on them to cover almost anything.
Many large insurance companies have found a loophole in the law that allows them to pass insurance risks on to their unlicensed and unregulated subsidiaries. This is called surplus lines insurance, and it is designed to cover claims for unique risks that more reputable insurance companies would never cover. Unfortunately some large insurance companies are breaking these rules by passing acceptable risks to their own surplus lines insurance subsidiaries, for no apparent purpose other than to avoid regulation, oversight, and accountability. In Hanover’s case, a good amount of their insurance risk is written by a wholly owned subsidiary, AIX Specialty Insurance Company, which is not licensed or regulated by many states. Regardless of what name they are using, policyholders subject to Hanover’s tactics face the same challenges.
Insurance law is clear; an insurance company such as Hanover is required to show reasonable cause for denying or delaying the payment of a valid claim if the damage is covered by the policy. By delaying, underpaying, or denying a legitimate claim or failing to thoroughly investigate the claim, an insurance company is engaging in bad faith activity. If you feel pressured to accept a low-ball offer from Hanover or any other insurance company, we can help you fight for the full amount to which you are entitled and carry out an insurance claim dispute with Hanover.
If your claim has been denied, disputed, or delayed by Hanover, the attorneys of Raizner Slania can assist you with your property insurance claim. We have the knowledge and courtroom experience to deal with the complex legal issues involved in insurance law, and we have specific experience and familiarity in dealing with Hanover.
We have earned recognition as attorneys who help policyholders fight for their rightful claims against insurance companies that operate in bad faith. We handle all bad faith insurance litigation cases on a contingency fee basis, meaning you will not owe us anything unless we help you recover financial damages. If you have a claim pending under your Hanover property insurance policy, call Raizner Slania today so that we can help you on the road to recovery.