What is a breach of fiduciary duty claim?

A breach of fiduciary duty claim is a type of insurance claim that is available in North Carolina. This type of claim is meant to protect an insured party when their insurance agent does not fulfill their duties when it comes to their insurance agreement. A breach of fiduciary duty claim typically involves the insurance company acting in bad faith, such as failing to provide proper coverage, failing to process a claim properly, or engaging in deceptive practices. A breach of fiduciary duty claim is similar to a negligence claim, as the insurance company is required to act in the best interests of their insured party. If the insurance company fails to do this, they may be liable for their actions and be required to pay damages. In North Carolina, anyone who believes their insurance company has engaged in a breach of fiduciary duty can file a claim with the Department of Insurance. This department will review the case and determine if the insurance company is liable for damages. If so, the insured party may be entitled to compensation for their losses.

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What is a breach of fiduciary duty claim?

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