SVR attained a successful resolution of a coverage issue for a leading insurer involving $115 million loss in Fort McMurray. Our results included early settlement of the matter without involving a potentially liable broker who the insurer wanted to maintain a strong relationship with.
Disputes over the legal interpretation of insurance policies and the coverage issues that arise can be complex and costly. We have a wide breadth of experience that enables us to accurately analyze coverage issues and provide an effective solution.
We also advise insurers when they are facing a bad faith claim. Insurers are obligated to treat the insured with good faith and this duty is owed at each and every stage of the process. In this context the phrase “good faith” means good faith performance or enforcement of a contract with an agreed common purpose and faithfulness. A bad faith claim will either be a first-party or third-party claim. Some indications of bad faith may be failure to: competently investigate, fairly assess the claim, reasonably defend the claim, reasonably negotiate the claim, inform the insured, to be prompt, or to acquire and communicate information.