Old American Insurance Co. v. Lincoln Factoring LLC
A successor assignee of a life insurance policy lost a judgment in its favor because it did not have standing to assert a claim under the Prompt Payment of Claims Act nor did it sustain any independent injury that would allow recovery for statutory or common law bad faith.
life insurance, assignment, assignee, Chapter 541, Chapter 542, Prompt Payment of Claims Act, Deceptive Trade Practices-Consumer Protection Act, DTPA, Insurance Code, good faith and fair dealing, bad faith, standing, reasonable investigation, misrepresentation, actual damages, treble damages, Menchaca, independent injury
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