The Property Insurance Law Observer

SEPTEMBER 16, 2024

The 6th Circuit held that the property policy’s cosmetic damage exclusion applied to bar coverage because the insured, J&S Welding, Inc. Insured”), failed to disclose or produce any expert evidence to rebut the conclusions of the West American’s three experts, who determined the roof’s damage was merely cosmetic.

Insurance Companies 130

Insurance Companies Damage Insurance Insurer 130

Scott Insurance

JULY 9, 2024

Water damage, one of the leading and most costly causes of property damage in the U.S., However, many homeowners are unaware of one simple solution that can prevent damage, save them money and give them peace of mind. Often, water damage inside the home is caused by leaks in the plumbing system.

Damage 52

Damage Theft Property Damage Insurance Carrier 52

Property Insurance Centre

JULY 21, 2024

Our Claims Partner, Aspray, Wins Loss Assessor of the Year 2024 We are delighted but not surprised to announce that our claims partner, Aspray, has won the prestigious “Loss Assessor of the Year 2024” award at the British Claims Awards.

Claim 52

Claim Property Damage Property Insurance Building 52

The Property Insurance Law Observer

FEBRUARY 14, 2024

The insureds suffered property damage caused by a tornado and subsequently submitted a claim to their insurer. Consequently, the insureds sued to recover the withheld deductible arguing that the tornado that caused the damage was not a windstorm and, as a result, their deductible was waived. —Dallas Jan. Code § 542A.001(2)(C)

Policy 130

Policy Deductible Damage Property Damage 130

The Property Insurance Law Observer

MARCH 4, 2024

26, 2024), the Western District of Washington considered competing motions for partial summary judgment in a property damage case involving a winter storm, where large amounts of rain and melted snow backed the drain up and the force of the water pushed through the exterior door causing damage to the entire basement level.

Damage 130

Damage Policy Claim Property Damage 130

Jackson & Jackson

JANUARY 10, 2024

Property Damage : Traditional cyber policies typically don’t cover physical damage caused by cyber events. General Liability Insurance: to help cover claims your business caused property damage or bodily injury. This can be a critical gap for tech companies with significant physical assets.

Liability Insurance 52

Liability Insurance Cyber Liability Property Damage 52

Protect Commercial Insurance

SEPTEMBER 20, 2024

It covers you against claims of property damage, personal injury, or negligence. This type of insurance is designed to cover you if a member of the public suffers an injury or their property is damaged because of your business activities. Here’s how you can make an informed decision.

Liability Insurance 52

Liability Insurance Liability Property Damage Insurance 52

Jackson & Jackson

APRIL 26, 2024

It provides coverage for physical damage to your property and any loss of income due to business interruption. Key Coverages for California Property Investors Property Damage : Covers damage to your buildings and contents caused by fire, theft, vandalism, and natural disasters.

Commercial Property 52

Commercial Property Property Insurance Commercial Business Interruption 52

Paragon Independent Insurance Agencies

MAY 27, 2024

These events may include property damage, liability claims from work-related injuries, break-ins, or business interruption. Protection of Business Property Commercial insurance protects all business property, including buildings on the land, equipment in the yard, inventory, and other assets owned by the company.

Commercial Insurance 40

Commercial Insurance Commercial Protection Business Interruption 40

The Property Insurance Law Observer

AUGUST 22, 2024

Specifically, the insured noted that the “floor had sagged, was bouncing, and that a section of the floor had partially detached from the Property’s exterior wall.” This prompted the insured to submit a claim. Even though the floor had partially detached from the property’s exterior wall, it remained standing.

Commercial Property 130

Commercial Property Building Damage Policy 130

ProWriters

APRIL 3, 2024

Understanding E&O Insurance Errors and Omissions (E&O) Insurance is liability coverage protecting professionals against claims for negligence, errors, or mistakes made in the course of their work. Coverage of claims made by third parties who suffer financial losses due to the insured’s actions.

Liability 52

Liability Cyber Property Damage Claim 52

Bankers Insurance

MAY 16, 2024

These policies can provide critical financial security as homeowners seek to protect their fiscal stability and property. The homeowners insurance market is complicated and dynamic, and many policyholders have experienced increased rates in recent years despite no changes to their coverage or claims filed. WHAT HAPPENED IN 2023?

Home Insurance 52

Home Insurance Policyholder Out-Of-Pocket Property Damage 52

Property Insurance Centre

MARCH 19, 2024

Consumer education ensures that individuals are prepared and protected with the proper insurance coverage and are knowledgeable about the claims process. It empowers individuals to navigate the claims process effectively and avoid insurance scams. May experience difficulties and delays when making claims due to lack of understanding.

Property Insurance 52

Property Insurance Policyholder Insurance Insurer 52

Cover4LetProperty

JANUARY 29, 2024

At its simplest, therefore, a home is a home, whilst let property is a business asset. Essentially, insurance is about risk and a calculation of the probability of loss or damage being suffered by the insured item or items.

Home Insurance 52

Home Insurance Damage Insurance Insurer 52

American Agents Alliance

AUGUST 22, 2024

The legislation, effective January 1, 2025, will increase the current minimum of $15,000 per claimant and $30,000 per occurrence for bodily injury, and $5,000 for property damage (15/30/5), to $30,000 per claimant, $60,000 per occurrence for bodily injury, and $15,000 for property damage (30/60/15).

Auto Insurance 40

Auto Insurance Agents Property Damage Broker-Agent 40

The Property Insurance Law Observer

MARCH 18, 2024

Plaintiff, the “Named Insured” on the policy, made an insurance claim to her insurer Allstate Vehicle and Property Insurance Company (“Allstate”) for fire damage to her property located in Philadelphia, Pennsylvania, where she resided with her two sons.

Insurance 130

Insurance Insurer Insured Property Insurance 130

The Property Insurance Law Observer

MARCH 25, 2024

The contractor was the only named insured while the property owner was an additional insured. After the failure of a retaining wall, the property owner submitted a claim to the insurer under the contractor’s policy, alleging that it was entitled to soft costs and lost rental income.

Policy 130

Policy Risk Insurance Insurer 130

Protect Commercial Insurance

JULY 26, 2024

Here are a few key areas to consider: Property Insurance Your tailoring business likely has valuable equipment, such as sewing machines, cutting tables, and fabric inventory. Property insurance can protect these assets from damage or loss due to fire, theft, or other covered perils.

Commercial 52

Commercial Insurance Broker General Liability Business Interruption 52

Jackson & Jackson

MAY 22, 2024

. “Understanding Multi-Family Property Insurance” Commercial property insurance is a vital safeguard for property owners, protecting their assets against various risks. It covers property damage, loss of income, liability claims, etc.

Property Insurance 52

Property Insurance Commercial Property Commercial Broker-Agent 52

Bankers Insurance

NOVEMBER 15, 2023

How to Protect your Business Against Frozen Pipes and Sprinkler Systems In the winter season, businesses encounter unique property challenges, notably the potential for frozen pipes and sprinkler systems. These issues can lead to expensive damage, operational disruptions, and potential safety hazards.

Protection 52

Protection Damage Property Damage Building 52

Cover4LetProperty

OCTOBER 9, 2022

When you are purchasing your landlord insurance policy, there might be a natural temptation to get it over and done with as fast as possible so that you can continue with your normal daily business.

Liability 52

Liability Insurance Insurer Insured 52

Scott Insurance

FEBRUARY 7, 2023

Increased Volume and Cost of Auto Claims Your personal auto insurance is designed to pay for the costs that may be incurred due to an accident (property damage/repairs, medical costs). Therefore, if the costs associated with an accident increase, insurance premiums will follow suit.

Auto Insurance 52

Auto Insurance Premium Insurance Carrier Property Damage 52

Scott Insurance

JANUARY 28, 2022

While insurance coverage is typically relied upon for many property-related losses, there remains a disconnect about how mold claims are often handled by the insurance industry. In some situations, property policies might give a sub-limit to help with remediation costs.

General Liability 52

General Liability Deductible Liability Property Damage 52

Hunton Andrews Kurth

JULY 20, 2023

The parties agreed that the duty to defend only applied where the “bodily injury” or “property damage” was caused by an “occurrence,” which was defined as “an accident, including continuous or repeated exposure to substantially the same general harmful conditions.” In any event, the ruling is a mixed bag for policyholders.

Commercial General Liability 40

Commercial General Liability General Liability Injury Property Damage 40

Cover4LetProperty

DECEMBER 1, 2023

Landlord insurance: Addresses specific risks associated with renting, such as tenant damage to the property. The main difference between home insurance and landlord insurance lies in the intended purpose and cover. How can I be sure I have the correct type of insurance?

Home Insurance 52

Home Insurance Insurance Insurer Liability 52

Risk Management Monitor

DECEMBER 17, 2021

Myers, AccuWeather founder and CEO, estimated that the tornadoes are expected to cost about $18 billion in total damage and economic loss. Over 100 workers were trapped inside the building after the next tornado leveled it. Another tornado struck an Amazon warehouse in Edwardsville, Illinois, killing six people and injuring another.

Damage 79

Damage Property Damage Building Risk 79

Jackson & Jackson

AUGUST 16, 2024

Homeowners insurance is a crucial financial safety net for homeowners, providing protection in the event of property damage, loss of personal belongings, or liability for injuries that occur on the premises. These events can cause extensive damage to homes and properties, leading insurers to be more cautious in providing coverage.

Insurance 52

Insurance Insurer Insured Risk 52

Cover4LetProperty

AUGUST 23, 2022

It’s equally important to inform your insurance company – and your mortgage provider – if you change the use of your property from owner-occupied to rental (whether in full or even part). Failing to get this right may result in a future claim being rejected.

Insurance 40

Insurance Insurer Insured Property Insurance 40

TGS

OCTOBER 3, 2023

Policy Number If you ever need to file a claim, this policy number is what you will use. If you suffer from losses or damages beyond those limits, you will be responsible for paying the rest out of pocket. A lot of factors go into calculating your home insurance premium. Keep your policy number somewhere secure.

Insurance Quotes 52

Insurance Quotes Deductible Home Insurance Out-Of-Pocket 52

Property Insurance Centre

JANUARY 4, 2024

Outdated property valuations result in underinsured properties. Weather Conditions and Natural Disasters Since 1980, there have been 360 weather- and climate-related natural catastrophes , resulting in damages and costs of over $2.57 Insureds are facing substantial property losses, leading to increased financial burdens.

Property Insurance 52

Property Insurance Commercial Property Liability Premium 52

Bankers Insurance

AUGUST 8, 2024

For example, if an insured’s property is valued at $1 million, but their coverage limit is $700,000 and their policy includes an 80% coinsurance clause, they would likely receive only $43,750 after incurring $50,000 in property damage from a covered event, depending on when their deductible is applied (700,000/800,000) x 50,000 = 43,750).

Commercial Property 59

Commercial Property Property Insurance Commercial Out-Of-Pocket 59

Maritime Insurance International

JUNE 5, 2020

Zero Claims. Some providers offer discounts for individuals who have not previously filed a boat insurance claim. When buying boat insurance, you will have the opportunity to select your coverage options. Here’s what you need to know. Driving Record. Some providers may even provide a discount for a good driving record.

Liability 40

Liability Insurance Policy Insurance Insurer 40

Cover4LetProperty

AUGUST 15, 2022

Such insurance typically is not valid for letting situations and you may find any future claims rejected once the insurance provider discovers that your property is let to tenants. If you’re looking for lower-cost solutions, it’s important not to be swayed into thinking that regular owner-occupier home insurance policies will suffice.

Insurance 52

Insurance Insurer Insured Property Insurance 52

Protect Commercial Insurance

MAY 30, 2024

In this article, we will explore different types of insurance coverage that can help safeguard your business from property damage, liability claims, cyber threats, and more. It provides financial compensation to repair or replace damaged property, ensuring that your business can quickly recover from unexpected events.

Cyber 52

Cyber Business Insurance Business Interruption Professional Liability Insurance 52

Distinguished

SEPTEMBER 25, 2024

Vandalism : Intentional damage to the job site by third parties, including things like broken glass or graffiti. Property damage : Damages to the building that is being constructed or renovated. Equipment : Covers damages to or theft of equipment used on the job site.

Risk 52

Risk Broker-Agent Insurance Insurer 52

Distinguished

SEPTEMBER 10, 2024

Our Builder’s Risk program is a comprehensive insurance solution that covers under-construction properties and their works sites against all the most common risk factors. Our program also offers your clients general liability insurance, which can help cover legal costs that can occur on work sites. 

Risk 52

Risk General Liability Broker-Agent Insurance 52

Jackson & Jackson

MAY 23, 2024

Small business insurance covers property damage, liability claims, and employee-related risks. For example, businesses in California’s earthquake-prone areas may consider adding earthquake insurance to their policy to protect their property from potential damage.

Small Business Insurance 52

Small Business Insurance Business Insurance Insurance Insurer 52