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Enforcement and Lawsuits terms
Enforcement and Lawsuits in Homeowners Insurance: the news, the names and what changed.
Bad faithAn insurer's unreasonable claim handling, such as denying or delaying payment with no reasonable basis, that can bring damages beyond the policy benefits.Market conduct examA state regulator's review of how an insurer treats policyholders, covering underwriting, rating, sales, complaints and claim handling rather than its finances.RedliningThe unlawful practice of refusing to insure, or charging more to insure, homes in certain neighborhoods because of residents' race or other protected traits.Suit limitation clauseThe policy condition that sets a deadline, often one or two years from the date of loss, for filing a lawsuit against the insurer over a claim.