Types of Bad Faith Insurance

Posted by on Aug 7, 2015 in Business | 0 comments

If your home or property has been damaged but is insured, you’re probably very thankful and relieved to know that your insurance company will help you and give you the financial compensation that you need to make your repairs. Such damage and the following repairs will be stressful all on its own, but if your insurance company refuses to pay the full amount they own under your plan or refuses to pay at all, it can make the situation unnecessarily difficult. There are four main ways that an insurance company can act in bad faith: delaying a claim, improper investigations, refusing to provide full coverage, and improper valuation of property.

When an insurance company delays a claim, it wastes your time. It takes unnecessarily long for you to receive the compensation you deserve, and often you will be forced to constantly contact the company over a long period before they pay part or all of the coverage. For some, this is too much to have to deal with and they never receive compensation – which is exactly what the insurance company wants.

To ensure that people are not abusing their insurance, companies often require an investigation before compensation is paid. This is not to hurt you or cause you inconvenience, but rather to protect the insurance company. However, some companies abuse this practice and use it as a means to deny your claims and avoid giving you the compensation you deserve.

Sometimes your claim is valid and your insurance company owes you a large sum for compensation, but the company refuses to pay all or part of it for one reason or another. Sometimes they simply do not give you a reason for the reduced coverage, other times they will try to make you believe that certain portions are not covered when they actually are.

The amount you are compensated in the event of damage will depend on the original value of the property. Some insurance companies will try to use this fact as a way to reduce the amount of compensation they owe you. They could try to set the value of your property at a much lower dollar value than it is actually worth, so they will then owe you less than they actually should in the event of damage.

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Wrongful Termination

Posted by on Sep 26, 2014 in Business | 1 comment

One possible cause of worry for job applicants and the newly employed is the latest growing practice among employers all across the US – the adoption of the “Employment at Will” doctrine – a short phrase, but which can cause lots of disadvantages, especially on the part of the employee. This “at will” phrase is openly indicated in job application forms and employees’ handbook, and though it gives employees the right to resign from work anytime, whether he/she has acceptable reasons or not, it also gives the employer the upper hand of terminating an employee anytime despite the absence of a justifiable cause.

Despite the legality of the “at will” employment principle in almost all states, these same states still hold termination of an employee (including denying an applicant employment) due to discrimination an unlawful act. And though claims regarding discrimination (as the cause of termination) may be harder to prove, the U.S. Equal Employment Opportunity Commission (EEOC), which enforces anti-discrimination laws, will not be stopped from investigating any complaint and from filing a legal case against the employer if discrimination is proven.

Wrongful termination occurs when an employee’s dismissal from work constitutes a violation of any of the terms contained in the contract of employment or the stipulations in the employment law. Employers ought to know the various laws that protect the rights of employees (and job applicants), laws such as those enforced by the EEOC (one of which is Title VII of the Civil Rights Act of 1964, which prohibits all forms of workplace harassment, discrimination and abuse based on religion, sex, race, color, or national origin) and the Employee Rights against wrongful termination.

The Employee Rights Law, in particular, includes the many different rights that have been passed, such as: protection from any act of discrimination; rights to return to their previous job after active military duty; limits on drug tests; right to just wage; the right to form and/or join a union; take leaves (without pay) due to birth, adoption, or serious health concerns; right to a healthy and safe working environment; right to workers’ compensation; and so forth.

The most often proven causes of wrongful termination are discrimination, complaining about discriminatory practices, whistle blowing, or an employer or immediate superior retaliating against an employee due to his/her refusal to perform an illegal act. Cary Kane LLP is one law firm that is very familiar with the many issues regarding employment, especially discriminatory practices in the workplace and wrongful termination. In its website it encourages victims (and those who feel they may be victims) of workplace discrimination and illegal dismissal from work to get in contact with a legal professional immediately for the proper legal actions that will save them their jobs and reputation in the workplace.

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What To Consider While Forming An LLC

Posted by on Apr 2, 2014 in Business | 6 comments

In order to reach your business’ objectives, you need to secure the set-up of your LLC is properly done. Setting up a Limited Liability Company would be a great way to limit your personal liability (just like in a Corporation), but have the advantage of being taxed under the Partnership. This can be tricky, since there is a chance that you may have registered your company as an LLC, but may not avail the Partnership tax status. It is always best to err on the side of caution to ensure that you have set up your LLC properly in order to take advantage of its benefits.

Limited Liability Company laws in a lot of states provide great flexibility for business owners. For one, the law may allow you continual business operation or, should you prefer, operate on a limited duration. The management of business may either fall to all members or just center on certain member managers. Additionally, state laws may also allow you and your business to be comprised of only one owner, as the often required two or more owners. Although this flexibility that state laws allow seem to be an asset to you and your business, it can also cause some issues.

To make sure that your LLC is taxed under the partnership status, you should follow the specified IRS regulations that establish or indicate what a partnership is and how many of these characteristics should be present in order for your business to be considered as a partnership. A corporation can own a partnership, but a single individual cannot. Corporations also give the control or management to their officers or board of directors, while partnerships provide equal managerial rights for all partners. Only following state laws regarding LLC may still cause you to be categorized as a corporation, therefore requiring you to pay your taxes as a corporation. Talking with a lawyer who specializes in business laws and knows the LLC laws in your state would greatly help in making sure you know what it requires to be qualified by the IRS as a Partnership. Having proper legal guidance could guarantee that you have all your bases covered and gain the benefits that an LLC offers.

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