Timely Payment of Insurance Claims

The Mayer, Graff & Wallace, LLP team explain that Wisconsin insurers are required to pay legitimate claims within 30 days of receiving notice of a loss and the damages caused by that loss.

Did you know that Wisconsin insurers are required to pay legitimate claims within 30 days of receiving notice of a loss and the damages caused by that loss? Wisconsin Statute § 628.46 allows policyholders to obtain interest on their unpaid claims if an insurer fails to make timely payment in whole or in part. In other words, if your insurance company has refused to pay any amount due and owing to you under the terms of the policy and circumstances of the loss, or delayed payment on all or part of the claim for more than 30 days, you may be entitled to interest on those unpaid amounts.

If your insurer has delayed or denied payment on your claim for more than 30 days, you may be entitled to interest. Contact the attorneys at MGW today to schedule your free consultation.