New York Life
New York Life is the largest and oldest mutual life insurance company in the U.S. For some 160 years, New York Life has been providing products that include:
- Life insurance
- Long-term care insurance
- Mutual funds
- Investment annuities
Bad Faith Insurance Lawsuits
While New York Life generally has a good reputation, many significant bad faith insurance claims have been initiated (and won) against the insurance company over the past few decades.
In late 1995, for example, Dr. Angelo Acquista was diagnosed with myelodysplasia (a blood disorder that can evolve into leukemia). He was advised by his physicians to avoid being exposed to radiation — an integral part of his work as a physician specializing in pulmonary and internal medicine. He applied for disability benefits under his three disability insurance policies from New York Life; however they denied him his claim.
Bad Faith and Unfair Claims Practices
New York Life denied Acquista's claim for disability benefits, stating that he could still perform his job. Acquista initiated a bad faith lawsuit against the company and two of its agents, contending that they had engaged in bad faith and unfair claims practices.
"Passing the File Around"
Acquista's lawsuit noted that New York Life engaged in a pattern of avoiding dealing with his claim, delaying the outcome and avoiding fair payment of benefits. He alleged that the company made multiple requests for documentation from him, and that when the company received his documentation, it would transfer his claim to a new examiner, who in turn would make more requests, dragging out the claims process to more than two years to get to the preliminary point of getting an independent medical examination.
A trial court dismissed his lawsuit, and he appealed. The appellate court found that there was indeed a question of fact regarding whether Acquista could perform the duties of his job as they were before his illness, but the case was eventually settled by New York Life.
Not the Only Bad Faith Insurance Lawsuit
Acquista’s bad faith insurance lawsuit is one of many legal actions taken against New York Life. If you feel that you have been the victim of insurance bad faith by New York Life or another insurer, it is in your best interest to speak with an experienced insurance bad faith attorney.
Contact us today to schedule a private consultation with a highly skilled, aggressive attorney who will fight to ensure your legal rights are protected.
Be assured your matters will be in experienced & caring hands.
