Tag Archives: Statutory Interest

Statutory Interest Series: Michigan

Prompt-pay laws are important to a policyholder’s rights to recover insurance benefits following a wrongful denial or delay in payment of a property damage claim. Prompt-pay laws vary from state to state. The implementation of statutory prompt-pay laws is critical to a policyholder’s recovery following a devastating loss.… Continue Reading

Statutory Interest Series: Michigan

Michigan policyholders are entitled to timely payment of property insurance benefits. Many insurers take extraordinary measures to delay, deny, and underpay claims leaving policyholders in vulnerable positions. An insurance company’s statutory responsibility to pay interest on delayed claim payments incentivizes insurers to promptly settle viable property insurance claims.… Continue Reading

Statutory Interest Series: Colorado

In two recent blog posts, I discussed Florida statutory interest which imposes a statutory duty on insurance carriers to pay interest on delayed payment of insurance proceeds.1 If you missed either blog post, then you find them here: I Reported My Claim Eight Months Ago! Am I Entitled to Interest Upon Resolution? Florida Statutory Interest: … Continue Reading