Hovet v. Allstate Insurance

OPINION

BOSSON, Justice.

{1} Section 59A-16-20 of the Trade Practices and Fraud Article (Article 16) of the Insurance Code prohibits insurance companies from engaging in certain “unfair and deceptive practices,” which include “not attempting in good faith to effectuate prompt, fair and equitable settlements of an insured’s claims in which liability has become reasonably clear.” NMSA 1978, § 59A-16-20 and - 20(E) (1997) (hereafter “unfair claims practices section”). Further, Section 59A-16-30 of the same article grants a right of action to any person covered by Article 16 “who has suffered…