Jim Holden, Indiana -The Unfair Claims Settlement Practices Act

Jim Holden, Indiana - The Unfair Claims Settlement Practices Act

Indiana resident Jim Holden has an extensive career in public service spanning the legal, insurance and financial service industries. During his tenure as a deputy insurance commissioner for Governor Daniels’ administration, James Holden specialized in the litigation of unfair claims practices against consumers in the state of Indiana.

Jim Holden, Indiana - The Unfair Claims Settlement Practices Act

The National Association of Insurance Commissioners is a regulatory body responsible for maintaining standards and practices within the American insurance industry. The NAIC introduced the Unfair Claims Settlement Practices Act to serve the interests of consumers dealing with insurance carriers. Regulations applied to insurance carriers prevent instances of misrepresentation, unfair influence, deception, or slow payment, and offer consumers avenues for negotiation and litigation.

Jim Holden, Indiana - The Unfair Claims Settlement Practices Act

The Act varies from state to state, but most U.S. states have adopted the model act. Penalties of up to $25,000 exist for violations committed by insurance carriers.