A federal court lawsuit alleges that an insurance company was perpetuating a scam using “phantom insurance” has been filed seeking class certification. Basically, the insurance customer alleges that the company increased the value put on the insurance policy for his home even though his home was not worth that amount. The raising of the limit of liability was designed to increase the insurance company profits.
Sometimes insurance companies practice deceptive practices that are designed to increase profits and do nothing for the good of policyholders. Insurance disputes should not be taken lightly by an individual. We strongly encourage Arkansas residents who have a problem with an insurance company to contact an attorney who fights insurance companies to make sure they are fully compensated for their loss. Insurance disputes involve fire loss, weather damage, theft, traffic accidents, disability claims, and business loss. If you or a family member has a dispute with an insurance company, please contact an Arkansas insurance dispute lawyer to make sure your rights are fully protected.