While there is no strict time limit because claims and cases can vary, an insurance company is required by Kentucky insurance law to investigate a claim with reasonable promptness and diligence and to pay the claim when liability or coverage is reasonably clear. A failure to do either can constitute a bad faith insurance practice and a violation of the Kentucky Unfair Claims Settlement Practices Act.

Can a car insurance company hold up a settlement offer?

 

A: While there is no strict time limit because claims and cases can vary, an insurance company is required by Kentucky insurance law to investigate a claim with reasonable promptness and diligence and to pay the claim when liability or coverage is reasonably clear.  A failure to do either can constitute a bad faith insurance practice and a violation of the Kentucky Unfair Claims Settlement Practices Act. 


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