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Insurance Company Will Not Pay Boating Accident Costs

In a recent development in the boating accident case of investor Michael Capponi, his insurance company is refusing to pay for medical costs associated with the accident. Great Lakes Reinsurance is claiming that Capponi lied on his application for insurance coverage by failing to report a former DUI conviction. That, the company says, is a valid reason to deny insurance coverage for damages to the boat as well as the medical expenses of a passenger who was injured in the crash.

The insurance company has asked a federal judge in Miami to rule on the controversy. Records show that this was not the first incident with the boat; Capponi had a previous accident a year before the crash that seriously injured him and his friend Brooke Biederman.

Capponi applied for $500,000 in liability coverage and $120,000 in coverage for his boat, a 25-foot Chris Craft Corsair, in 2009. In 2014, he filed a claim for $70,000 after running the boat aground. That claim was paid, but the insurance company now says that it wants that money reimbursed as well.

There is no word on how high the medical bills may have climbed in the months since the accident. At the time, Biederman was said to be in critical condition. She continues to recover from her injuries.

Insurance Companies, Coverage and Claims

Insurance companies have rules when it comes to paying claims. In some cases, these rules are justifiable and simple to understand. For example, if someone applies for coverage for an item he or she does not possess, then makes a claim, it is clearly fraud. However, insurance companies often try to deny claims for which there are valid grounds in order to save money.

For example, a person injured in an accident has the right to expect payment for medical bills and associated costs. However, the insurance company may try to claim that the person is not really injured or that the coverage does not apply for some reason. The victim is left trying to find a way to pay the medical bills.

Insurance companies do not often volunteer to pay claims. A victim who is being denied coverage may find it necessary to file a personal injury lawsuit to recover payment. The attorneys at Bernstein & Maryanoff in Miami are ready to help you if you have been denied payment for your injuries by an insurance company.

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