In this video, Dr. Padda unpacks Missouri’s insurance laws (RSMo 375.1000–375.1018), offering a clear explanation of essential principles like the duty of good faith and fair dealing. These obligations extend not only to policyholders but also to injured parties, emphasizing the importance of fair treatment throughout the claims process.
Dr. Padda delves into critical issues such as preventing unfair practices, ensuring reasonable settlement offers, and adhering to timely payouts. He also highlights the legal requirement to include interest on delayed payments, underscoring the importance of holding insurers accountable to their obligations.
Beyond the legal framework, Dr. Padda introduces a powerful approach inspired by Charlie Munger’s principle: “Invert, always invert.” By examining where systems fail, he provides insights into crafting effective solutions. This perspective shifts the focus from problems to actionable strategies that work for policyholders and injured parties alike.
Whether you’re navigating the aftermath of an injury or seeking a better understanding of your rights under Missouri’s insurance laws, this video equips you with the knowledge and confidence to advocate for fair treatment.
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