Insurance Journal

DECEMBER 2, 2024

With multiple hurricanes rocking Florida and other parts of the Southeast this year, claims professionals have said they are seeing a trend toward “soft fraud,” with more policyholders attempting to include older or unrelated damage in recent storm claims, and …

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Damage Claim Policyholder Risk 264

Property Insurance Coverage Law

JANUARY 9, 2025

1 … The post Delay, Deny, Defend Professor Offers Suggestions for Meaningful Insurance Claims Reform appeared first on Property Insurance Coverage Law Blog.

Insurance Claim 158

Insurance Claim Claim Property Insurance Insurer 158

Property Insurance Coverage Law

OCTOBER 3, 2024

Filing a property insurance claim can feel unfamiliar to many. However, once you’ve submitted your claim, there are key steps you can take to ensure the best possible outcome. Here’s a guide on what to do next, from tracking your claim to ensuring your rights are protected.

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Insurance Claim Claim Property Insurance Insured 169

Property Insurance Coverage Law

SEPTEMBER 28, 2024

Many insureds and even insured representatives have never dealt with a flood insurance claim and the intricacies of the National Flood Insurance Program. Resources are available at … The post Navigating Flood Insurance Claims from Hurricane Helene appeared first on Property Insurance Coverage Law Blog.

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Insurance Claim Claim Property Insurance Insured 164

Property Insurance Coverage Law

NOVEMBER 18, 2024

This distinction remains critically important for today’s insurance practitioners and policyholders alike. This post is a follow-up to Where Did the Proof of Loss … The post Proof of Loss Requirements: A 222-Year-Old Case Still Relevant for Modern Insurance Claims appeared first on Property Insurance Coverage Law Blog.

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Insurance Claim Claim Policyholder Property Insurance 153

Property Insurance Coverage Law

OCTOBER 6, 2024

I have received numerous calls from furious Hurricane Helene policyholders after learning how little coverage is afforded for the non-elevated floor of a multi-story building under their flood insurance policies.

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Building Insurance Claim Claim Policyholder 130

Property Insurance Coverage Law

OCTOBER 28, 2024

This is Florida law regarding when an insurance company must start investigating an insurance claim: 3)(a) Unless otherwise provided by the policy of insurance or by law, within 7 days after an insurer receives proof-of-loss statements, the insurer shall begin such investigation as is reasonably necessary unless the failure to begin such investigation (..)

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Policyholder Property Insurance Insurance Claim Claim 144

Property Insurance Coverage Law

OCTOBER 22, 2024

Policyholders and public adjusters need to be aware that National Flood Insurance claims are very technical with demanding deadlines that must be met.

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Claim Policyholder Property Insurance Insurance Claim 138

Property Insurance Coverage Law

JANUARY 2, 2025

Public adjusters and policyholders must remain vigilant and precise when dealing with federal flood insurance claims under the National Flood Insurance Program (NFIP). A recent decision in Blocdahl Leasing, LLC v.

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Policyholder Property Insurance Insurance Claim Claim 141

Insurance Journal

AUGUST 25, 2024

Simply mailing a cancellation notice to a policyholder, when viewed in the context of other indicators, was enough to comply with state law and void a homeowner’s insurance policy shortly just weeks before a fire destroyed a home, the North …

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Policyholder Insurance Policy Policy Insurer 285

Property Insurance Coverage Law

SEPTEMBER 5, 2024

Insurance companies that wrongly deny or underpay property insurance claims are finding a golden financial opportunity that provides an incentive for them to wrongfully underpay and deny claims—they escape the payment of the replacement cost valuation they promised to their policyholders.

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Policyholder Property Insurance Insurance Claim Claim 139

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. Following the hurricane, plaintiff submitted an insurance claim with a detailed contents list for $663,682 in personal property losses. The recent decision of Marcantel v.

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Damage Personal Property Policyholder Claim 130

Property Insurance Coverage Law

OCTOBER 8, 2024

While speaking at the Florida Association of Public Insurance Adjusters Fall Conference regarding National Flood Insurance claims, I promised to blog about a recent case that made its way through the federal courts.

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Insurance Claim Property Insurance Claim Insurer 172

Shield Insurance Agency

AUGUST 20, 2024

Shield Insurance Blog | Small Insurance Claims | Contact Our Sales Team! Small Insurance Claims Can Raise Premiums Small insurance claims, such as those for minor property damage, may seem like a hassle to deal with. However, filing small insurance claims can have long-term financial consequences.

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Insurance Claim Claim Protection Out-Of-Pocket 52

Property Insurance Coverage Law

AUGUST 7, 2024

Wildfire season is here, and if you’ve experienced a loss, navigating your insurance claim can be daunting. Here’s what Californians need to know on day one to get your claim off on the right footing. Check Your Coverage Limits and Address Underinsurance Issues.

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Property Insurance Insurance Claim Claim Insurer 149

Insurance Journal

SEPTEMBER 11, 2024

Mississippi’s insurance commissioner is reminding policyholders that once Hurricane Francine moves across Louisiana, it will likely bring strong winds and heavy rains to the western part of the Magnolia State. And residents should be prepared by reading their insurance policies, …

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Policyholder Insurance Policy Policy Insurer 147

Property Insurance Coverage Law

NOVEMBER 24, 2024

Insurance policies that provide broad coverage across multiple items or locations can be a policyholder’s best friend. A recent federal court decision in Louisiana 1 highlights the complexities in determining whether a policy provides blanket or scheduled coverage – a distinction that can significantly impact claim payments.

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Policy Policyholder Property Insurance Damage 100

Paragon Independent Insurance Agencies

JUNE 14, 2024

Filing a commercial claim is a complex and daunting process, especially for business owners unfamiliar with the ins and outs of insurance policies. Inadequate Documentation Insufficient evidence to support the claim can result in it being denied or undervalued. It gives the policyholder and company a favorable outcome.

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Commercial Insurance Commercial Insurance Claim Claim 40

Property Insurance Coverage Law

SEPTEMBER 26, 2024

Consequential damages play a significant role in both contract law and insurance claims, but they operate under different frameworks and have distinct implications depending on the context. Consequential damages in insurance claims are indirect losses resulting from — but … The post What Are Consequential Damages?

Damage 100

Damage Property Insurance Insurance Claim Claim 100

Property Insurance Coverage Law

NOVEMBER 2, 2024

As the traditional insurance market continues to harden, policyholders are increasingly exploring parametric hurricane insurance as a complement and sometimes a substitute to their existing property insurance coverage.

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Policyholder Property Insurance Insurer Insured 130

Property Insurance Coverage Law

DECEMBER 5, 2024

Jonathan Wilkofsky is a panelist presenting appraisals at the First Party Claims Conference. He just mentioned that the issue of matching replacement materials during property insurance claims has been settled in model laws.

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Property Insurance Claim Insurance Claim Insurer 100

Triple-I: Homeowners Insurance

JUNE 19, 2024

By Max Dorfman, Research Writer, Triple-I The total value of lightning-caused homeowners insurance claims rose more than 30 percent in 2023, to $1.27 billion from $950 million in 2022, Triple-I estimates based on national claims data provided by State Farm. The number of claims rose 13.8 The number of claims rose 13.8

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Claim Damage Protection Policyholder 52

Triple-I: Homeowners Insurance

JANUARY 13, 2025

Overall, this and other key report findings revolve around the value of proactive measures for effective preparedness and mitigation strategies to address the increasing risks posed by severe weather events and the need for collaboration between homeowners, insurers, and governments to enhance resilience against natural disasters.

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Policyholder Claim Premium Risk 45

Property Insurance Centre

MARCH 19, 2024

It empowers individuals to make informed decisions about insurance coverage and understand their policy rights. Consumer education ensures that individuals are prepared and protected with the proper insurance coverage and are knowledgeable about the claims process. Leads to confusion and potential gaps in coverage.

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Property Insurance Policyholder Insured Insurer 52

Triple-I: Homeowners Insurance

MAY 8, 2024

Legislative reforms put in place in 2022 and early 2023 to address legal system abuse and assignment-of-benefits claim fraud in Florida are beginning to help the state’s property/casualty insurance market recover from its crisis of recent years, according to a new Triple-I Issues Brief. With only 15 percent of U.S.

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Premium Insurer Insured Casualty Insurance 52

Protect Commercial Insurance

MAY 13, 2021

For example, notifying the insurer of an insurance claim and negotiating settlement on the customer’s behalf. If you handle claims on behalf of the insurer (and not the customer), this will not be a regulated activity, neither will providing information to a claimant or insurer in connection with a claim assessment.

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Commercial Insurance Commercial Insurer Insured 52

Property Insurance Centre

SEPTEMBER 25, 2024

Define the maximum amount that you are willing to spend additional in the case of a claim. Key Takeaways Building insurance is essential to protect your property, but it can be complex. Many people make common mistakes when dealing with building insurance, which can result in inadequate coverage or denied claims.

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Building Insured Insurer Insurance 52

Property Insurance Centre

JANUARY 4, 2024

This ensures that insured properties are adequately valued and properly insured, reducing the risk of financial loss in the event of a claim. Labour Costs and Insurance Premiums Labour costs are another significant factor affected by inflation.

Property Insurance 52

Property Insurance Commercial Property Liability Insured 52

Triple-I: Business Insurance

AUGUST 11, 2022

The property & casualty insurance industry’s combined ratio – an indicator of underwriting profitability – is forecast at 100.7 Combined ratio represents the difference between claims and expenses paid and premiums collected by insurers. for 2022, up 1.2

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Underwriting Underwriter Workers Compensation Premium 40

Bankers Insurance

AUGUST 8, 2024

Most commercial property insurance policies include coinsurance clauses, which encourage policyholders to carry reasonable and accurate coverage amounts. Under a coinsurance clause, a policyholder faces a penalty — usually a reduced payout — if their coverage limit is not at least equal to a predetermined percentage (e.g.,

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Commercial Property Property Insurance Commercial Out-Of-Pocket 59

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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Insurer Insured Insurance Building 52

Constant Contact

JANUARY 28, 2021

Feel free to include these common questions: When should I update my life insurance coverage? Under what circumstances should I file an auto insurance claim? How do umbrella insurance policies work? Should I bundle my auto and homeowners insurance? Will my credit history influence my insurance rates?

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Insurer Insured Insurance Life Insurance 52

Hunton Andrews Kurth

JULY 16, 2021

However, contamination events and ensuing recalls can lead to a variety of other claims that implicate a number of other coverages, including liability coverage for claims against officers and directors addressing the company’s internal contamination risk and safety policies and procedures.

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General Liability Commercial General Liability Liability Injury 52

Property Insurance Coverage Law

NOVEMBER 7, 2024

In a significant development for policyholders affected by Hurricanes Helene and Milton, House Oversight Democrats have taken decisive action to protect hurricane victims from potential insurance fraud.

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Insurance Claim Claim Policyholder Property Insurance 196