Property Insurance Coverage Law

SEPTEMBER 23, 2024

Timely payment of an appraisal award should not be a “Get Out of Jail Free Card” for an insurer guilty of bad faith claims conduct. A federal court in Louisiana recently denied most of an insurer’s motion for summary judgment in a bad faith case arising from a disputed winter storm damage claim.

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Property Insurance Coverage Law

AUGUST 14, 2024

One of the more complex damage issues that must be addressed in all fire, smoke, and heat claims is the amount of damage to personal property in areas of a structure far away from the main fire.

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Claim Personal Property Damage Insurance 142

The Property Insurance Law Observer

SEPTEMBER 23, 2024

American Guarantee and Liability Insurance Company , the United States District Court for the District of Massachusetts held that a loose bolt or fitting that could be remedied simply by tightening it did not constitute “direct physical loss of or damage” to equipment covered under an all-risk property insurance policy. [1]

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Property Insurance Centre

OCTOBER 18, 2024

How the Climate Crisis is Impacting the UK Property Insurance Market in 2023-2024 The UK property insurance market is increasingly being reshaped by the climate crisis , with extreme weather events such as storms and flooding becoming more frequent and costly. billion in property claims, marking a historic high.

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Property Insurance Coverage Law

SEPTEMBER 3, 2024

On February 5, 2019, Opera Block’s owner, Timothy … The post Order and Bind Insurance Before the Loss—Commercial Policy Covers Water Damage Under Drain Backup Endorsement appeared first on Property Insurance Coverage Law Blog.

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Property Insurance Coverage Law

SEPTEMBER 22, 2024

A recent ruling by a federal trial court stated that the policyholder claimed that a severe hailstorm on May 28, 2021, caused extensive damage to his property, including damage to the roof, vents, flashings, windows, window screens, fascia, gutters, downspouts, and HVAC system.

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Prof. Allan Manning

JULY 29, 2024

Realising the importance of ongoing learning, LMI held their annual conference for the claims team in Sydney last week. During the conference it was appropriate to acknowledge and present 10 year service awards to Caroline Stevens from LMI Forensics and Georg Froeschl from LMI Claims.

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Insurance Journal

OCTOBER 9, 2024

Almost two years after a group of independent claims adjusters alleged that insurers had deceptively altered their damage estimates and low-balled policyholders, Florida’s chief financial officer has issued an emergency rule barring similar actions in Hurricane Milton claims. “Any move …

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The Property Insurance Law Observer

OCTOBER 16, 2024

The ruling reversed a jury award for homeowners who had sold their property without performing the necessary repairs, addressing a crucial question about recovery for unperformed repairs in property insurance claims. Universal”) after their property sustained water damage that led to mold. in damages.

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Property Insurance Coverage Law

OCTOBER 10, 2024

When your home is damaged, it’s natural for most homeowners to call their insurance agent. But insurance agents don’t handle claims. Your agent is usually the first person who comes to mind because they sold you the policy. That job belongs to an adjuster.

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Property Insurance Coverage Law

OCTOBER 5, 2024

When navigating the aftermath of a property damage claim, many homeowners seek professionals to help them secure the best possible settlement from their insurance company. However, policyholders … The post Public Adjusters Prohibited in Arkansas appeared first on Property Insurance Coverage Law Blog.

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Property Damage Policyholder Property Insurance Damage 119

Insurance Journal

AUGUST 9, 2024

Reports from Gallagher Re and the Florida Office of Insurance Regulation suggest that Tropical Storm Debby will not be a heavy lift for property insurers and reinsurers. “Early assessments suggest wind-related physical damage (is) not as extensive as initially feared,” …

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Property Insurance Damage Insurance Insurer 264

Jackson & Jackson

MAY 22, 2024

Investors must understand the importance of securing comprehensive commercial property insurance coverage to protect their investments. This article aims to provide an in-depth overview of ensuring multi-unit commercial properties in California, highlighting key considerations for investors.

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Property Insurance Centre

MARCH 19, 2024

Understanding Consumer Education and Property Insurance As an informed consumer, education on consumer rights and property insurance is crucial. It empowers individuals to make informed decisions about insurance coverage and understand their policy rights. Leads to confusion and potential gaps in coverage.

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Property Insurance Policyholder Insurance Insurer 52

Jackson & Jackson

APRIL 26, 2024

One of the most crucial aspects to consider is commercial property insurance. This guide aims to help new investors understand the basics of commercial property insurance in California, ensuring that their investments are protected against unforeseen events. This is crucial if someone is injured on your property.

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Property Insurance Centre

JANUARY 4, 2024

Emerging Property Insurance Trends 2024 Welcome to our guide on emerging trends in the property insurance industry. As we dive into the evolving landscape of property insurance, it’s important to stay informed about the latest trends and challenges affecting the market. Hurricane Harvey 2017 92.0

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Property Insurance Coverage Law

OCTOBER 1, 2024

You can read about the story from my post, CBS 60 Minutes Exposes Alleged Insurance Company Fraud: Adjusters Reveal Altered Hurricane Damage Estimates … The post Heritage Insurance Under Scrutiny: Analyzing the CBS 60 Minutes Exposé and Questions of Internal Controls appeared first on Property Insurance Coverage Law Blog.

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Property Insurance Damage Insurance Industry Insurance Companies 161

Bankers Insurance

AUGUST 8, 2024

THE IMPORTANCE OF ACCURATE VALUATION IN COMMERCIAL PROPERTY INSURANCE When purchasing or renewing commercial property insurance , it’s important for businesses to ensure their coverage includes correct property valuations. Additionally, property undervaluation can result in coinsurance penalties.

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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.

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The Property Insurance Law Observer

JULY 25, 2024

June 24, 2024) offers valuable lessons for policyholders regarding the importance of cooperation in the insurance claims process. In Marcantel , the plaintiff suffered damage from Hurricane Laura at two properties in Louisiana.

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Insurance Journal

OCTOBER 20, 2024

As if it were yesterday, I vividly remember going to my first catastrophic fire loss with my dad at the young age of nine. It was a house fire in Sarasota involving a resident falling asleep with a lit cigarette.

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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.

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The Property Insurance Law Observer

OCTOBER 9, 2024

GeoVera Specialty Insurance Company (2024 WL 3952571), the court affirmed that unambiguous policy limits remain enforceable even when an appraisal award exceeds those limits. This decision provides valuable guidance for insurers handling post-catastrophe claims. they initially tendered based on their own assessment.

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The Property Insurance Law Observer

MARCH 18, 2024

A federal court recently held that an insurer could not deny coverage under a homeowner’s policy based upon the failure of the named insured’s son, an “insured person,” to submit to an examination under oath (“EUO”). Allstate Vehicle and Property Insurance Company , Civil Action No. In Michelle Adeola v.

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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.

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The Property Insurance Law Observer

MARCH 12, 2024

The United States District Court for the Western District of Washington decided an insurance coverage case involving Plaintiffs Benny and Guangying Cheung and Defendant Allstate Vehicle and Property Insurance Company. Plaintiffs argued that the damage was covered under the policy, primarily resulting from theft.

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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.

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The Property Insurance Law Observer

FEBRUARY 14, 2024

29, 2024)), the Court determined that the term “windstorm” was ambiguous as utilized in the subject insurance policy. The insureds suffered property damage caused by a tornado and subsequently submitted a claim to their insurer. —Dallas Jan. Code § 542A.001(2)(C) of Newark, N.J. Weatherman (193 S.W.2d

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Property Insurance Centre

SEPTEMBER 25, 2024

See what is not covered in terms of events/damage for your policy and think about getting flood insurance or accidental damage insurance if desired. Accidental damage is not usually covered by a normal building insurance policy. – Provided that add-ons are part of the lease. What is Covered?

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The Property Insurance Law Observer

JULY 29, 2024

Actual cash value of the stolen or damaged property less the deductible; or 2. Amount necessary to repair or replace the property with other property of like kind and quality less the deductible. Payment of loss We may pay for loss in money or repair or replace the damaged or stolen property.

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Property Insurance Centre

SEPTEMBER 11, 2024

Lift Inspection policies will often accompany a Purpose Built Flats Insurance Policy, and for good reason. Although some Purpose Built Flats Insurance policies will provide some cover to machinery and plant for material damage cover, they will not provide any assistance should the lift break down.

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Insurance Policy Policy Boiler and Machinery Insurance 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.

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Property Insurance Centre

JANUARY 30, 2024

When selecting an insurance policy, factors such as the type of tenants, unoccupied flats, and the risk of water leaks and subsidence should be taken into account. It’s essential to accurately determine the rebuild cost of the property and disclose any claims history. What is Block of Flats Insurance?

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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.

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The Property Insurance Law Observer

MARCH 25, 2024

Pursuant to that construction contract, the contractor purchased a builder’s risk policy with the defendant insurer. The contractor was the only named insured while the property owner was an additional insured.

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Prof. Allan Manning

MARCH 11, 2024

However, with local authorities coming to the realization that poor planning decisions have been made in the past, are ordering that an insured is not able to build back where they once were. I want to stress that the endorsement only applies if the Insured is forced to relocate ABANDONED UNDAMAGED PORTION OF A BUILDING.

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Property Insurance Centre

AUGUST 8, 2024

What happens when the unoccupied property becomes empty again? Essentially, the cover you lost will re re-applied to your office buildings policy – such as theft or malicious damage for example will no longer be excluded. What do we recommend as a broker for unoccupied office insurance?

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