Is an insurance company required to explain why it will not offer a reasonable settlement for a claim?

Yes. An insurance company can violate the Kentucky Unfair Claims Settlement Practices Act if it fails to promptly provide a reasonable explanation of the basis of the insurance policy in relation to the facts or applicable law for the offer of a reasonable settlement.

Robert L. Abell, an insurance claims lawyer in Lexington, Kentucky, is an experienced insurance bad faith attorney, who can help you get your insurance claim paid or recover damages caused by an insurance company's bad faith practices.  Call Robert Abell Law toll free at 866-578-5302 for a free consultation.