Yearly Archives: 2002

The Current Standard of Bad Faith Claims in New York

Client Resources | 1 Jan 2002 | by

First Party Claims New York Insurance Law section 2601 requires “good faith claim practice” with regard to the adjustment of first-party claims in New York. The violation of this statute subjects the insurer to administrative penalties issued by the insurance department, rather than a suit for punitive damages by the purportedly aggrieved party. The U.S. Circuit Court of Appeals for the Second Circuit, which examined New […]