Zurich American Insurance Company

Be on the Lookout for Potential Fraud

In the U.S., Zurich North America, a subsidiary of Zurich American Insurance Company, is a provider of life insurance policies, disability coverage, and annuities. The parent company, Zurich Insurance Group Ltd., has its headquarters in Zurich, Switzerland, and offers insurance products across the world in both global and local markets.

Reporting Potential Fraud

Zurich American’s website encourages clients to report insurance fraud by fax, phone, or online. The website states that “Zurich North America, like any insurance company, is vulnerable to improprieties involving not only insured, but also company employees, agents and brokers, vendors and others doing business with us.” This vulnerability is certainly true.

However, it is important for consumers to know that some instances of insurance fraud come from within the company and may need to be handled with the help of a California insurance fraud attorney. These instances typically involve an insurance company mishandling a claim brought by a policyholder or failing to uphold their end of the policy agreement and terms. When this happens, the policyholder can be left without the financial security of the policy coverage, and may need to file a claim to get what the company owes.

Property Insurance Policies

After Hurricane Sandy, Zurich American Company was sued by a graphics and printing company in New Jersey. Pictorial Offset Corp claimed that Zurich failed to fully uphold their end of a commercial property insurance policy after the corporation was hit with substantial losses following the major storm. Hurricane Sandy caused electrical surges that destroyed Pictorial’s equipment, including several printing presses. In their suit, Pictorial was seeking damages for business personal property losses, debris removal, business interruption, professional fees and losses from their interruption of work.

According to the claim, Zurich had made an original assessment that determined the electrical damage was caused by flooding during the hurricane rather than an electrical surge before the flooding. Under Pictorial’s property insurance policy, flood damages can be reimbursed up to $1 million and Zurich paid $1.25 million. But Pictorial claims that their entire policy—which has a $65 million limit for real and personal property and a $17.8 million blanket limit for business income and expenses—should have provided them with additional reimbursement and that Zurich failed to properly handle their claim.

Contact an Attorney

Your insurance policies are in place to protect you when the unexpected happens—damage, sudden injury, hurricanes, earthquakes, fires, floods and more. These policies provide a resource that you hope you never have to tap into; but if you do, the financial comfort of coverage can help you start to rebuild your company or your life, no matter what you need. If your insurance provider has failed to keep its promises and is trying to keep you from claiming the full reimbursement limits of your policy, you may need an experienced California insurance fraud lawyer on your side.

At the Evans Law Firm, Inc. our attorneys represent anyone who has been treated poorly by an insurance company. To discuss your case, contact us via phone at 415.441.8669, toll free at 888.503.8267 or email at info@evanslaw.com today.