Property Insurance Coverage Law

SEPTEMBER 19, 2024

Restoration Contractors and Roofers Need to Be Careful and Not Overstep into Adjusting Claims, Subjecting Them to Criminal Prosecution appeared first on Property Insurance Coverage Law Blog.

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Claim Policyholder Property Insurance Insurance Companies 166

Word & Brown

SEPTEMBER 25, 2024

According to reporting last year by KFF (the independent source for health policy research, polling, and journalism formerly known as the Kaiser Family Foundation) data from insurers for Affordable Care Act Marketplace plans show nearly 17% of in-network claims were denied in 2021.

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Claim Insurance Claim Out-Of-Pocket Insurance 52

Insurance Journal

AUGUST 15, 2024

A Maui judge’s ruling resolves a critical roadblock to finalizing a $4 billion wildfire settlement: Insurance companies who have paid out more than $2 billion in claims can seek reimbursement only from the settlement amount defendants, who victims blame for …

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Insurance Companies Claim Insurance Insurer 276

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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Property Insurance Coverage Law

OCTOBER 20, 2024

The Fifth Circuit Court of Appeals recently ruled in favor of Church Mutual Insurance Company in a Hurricane Laura claim brought by First United Pentecostal Church.1

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Property Insurance Coverage Law

AUGUST 15, 2024

Insurance companies claim that when claims numbers are simply made up, that act constitutes fraud. If that is so, then insurance company fraud statistics are a fraud. The often wrongfully cited estimate of $308.6 billion is an admittedly “make believe” estimate. A recent article by Kenneth S.

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Property Insurance Insurance Companies Insurance Insurer 172

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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Boyle Agency Insurance

MAY 3, 2024

This Bogle Agency Insurance blog post will guide you through the necessary steps to take after a disaster strikes and how to navigate the home insurance claims process smoothly. Home Insurance Claim Step I: Assess the Safety of Your Home After a disaster, the safety of you and your family should be the top priority.

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QuickQuote

JULY 29, 2023

Since life insurance companies pay out multiple claims per year, you may wonder how life insurance companies make money if claims sometimes eclipse the amount earned in premiums. The answer is that life insurance company profitability is based on more than just the amount it earns in premiums.

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Life Insurance Insurance Companies Premium Insurance 40

American Agents Alliance

JULY 17, 2024

Every part of the insurance lifecycle is changing in the digital age, including the handling of claims. Agents and brokers play important roles in the digital claims management process, from educating policyholders on loss mitigation to helping insureds file claims and work with their insurers.

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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

Wren Insurance Agency

OCTOBER 17, 2024

At this time of year, typically due to Florida storms causing damage to our homes, there are a larger number of insurance claims than normal. Many adjusters investigate your claim by visiting your property; in person, viewing and documenting losses and damages personally. Read the full article at www.wreninsuranceagency.com

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Damage License Insurance Insurer 98

Unitas Financial Services

MAY 2, 2022

In our series on Insurance Vendor Management, we have covered the 9 Critical Steps for Insurance Vendor Management , Specialization of the Insurance Company and the Agent , How to Evaluate an Insurance Policy, and Claims and Administration of the Policy.

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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 116

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. District Court for the Middle District of Florida, Wood v.

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Unitas Financial Services

APRIL 21, 2022

In this series on Insurance Vendor Management for Lenders, we discussed how to evaluate an insurance policy, the specialization of the insurance company and the agent, and the 9 Critical Steps for Insurance Vendor Management. In this article, we tackle claims and administration of the policy.

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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 Coverage Law

OCTOBER 1, 2024

Heritage Insurance (HRTG) lost 20% of its publicly traded value yesterday following the recent CBS 60 Minutes investigation into alleged insurance fraud in Florida, which has sent shockwaves through the insurance industry.

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Property Insurance Damage Insurance Industry Insurance Companies 161

Rough Notes

OCTOBER 1, 2024

INSURANCE-RELATED COURT CASES Digested from case reports published online COURT DECISIONS In search of defense costs Ferrellgas Partners L.P. and its subsidiaries had a claims-made policy with Zurich American Insurance Company that included a provision for the advancement of defense costs for litigation.

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Insurance Companies Claim Policy Insured 52

Frankenmuth Insurance

SEPTEMBER 26, 2024

Auto Insurance Trends Report published by LexisNexis. Factor #3: Rise in claim severity and attorney-represented claims. When drivers submit claims today, the damages are often more severe due to the unsafe habits mentioned above. That means bigger financial hits for insurance companies.

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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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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

MARCH 4, 2024

The defendant, Stillwater Insurance Company (“Stillwater”) determined there was coverage under the Limited Water Back Up and Sump Discharge or Overflow Coverage endorsement and issued payment of the full $5,000 sublimit of that endorsement, together with a letter to the insureds explaining its coverage analysis.

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Insurance Agency of Ohio

JULY 13, 2015

If you are ever unable to reach our office to report a claim during sever weather, we welcome you to contact your insurance company and report your claim directly. Below are the phone numbers and websites for the companies we represent.

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InsuredMine

AUGUST 27, 2024

Send Documents Quickly to your Clients With e-signatures, insurers can send documents to clients right away. Now, as soon as an agent finalizes a policy or claim document, it can be instantly transmitted to the client’s email or smartphone. Easy Signing Process E-signature systems are designed with user-friendliness in mind.

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Insurance Insurer Insured Claim 96

TGS

OCTOBER 3, 2024

Conversely, homes further inland or in areas with lower crime rates often benefit from lower insurance costs. The more risks your area poses, the more your insurance company will charge to protect you. These features reduce the risk of significant damage or theft, meaning less risk for the insurance company.

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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. Allstate Vehicle & Prop. C22-1174 TSZ, 2023 WL 9000432 (W.D.

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American Agents Alliance

SEPTEMBER 1, 2024

Change is accelerating around us, and for insurance, selecting the right tools to manage their business is not just an option; it’s a necessity for continued success in today’s dynamic landscape. Payment Types And Flexibility Insurance companies operate in a diverse market with varied customer preferences.

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Insurance Companies Insurance Insurer Insured 52

Paragon Independent Insurance Agencies

JULY 31, 2024

A home insurance deductible is the money you must pay out of pocket when filing a claim before your insurance kicks in. To be more clear, you don’t pay the money to the insurance company. Instead, the company pays for the damages for a covered loss minus your portion, which is the deductible.

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AMAXX

SEPTEMBER 9, 2024

Medical cost containment is an essential aspect of managing workers’ compensation claims effectively. Employers and insurance companies face the challenge of controlling medical costs while ensuring that injured employees receive the care they need. A timely review could have prevented an unnecessary claim.

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Workers Comp Injury Compensation Workers Compensation 74

Bankers Insurance

MAY 16, 2024

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. 2023 saw a continuation of many difficult conditions still affecting the homeowners insurance market today. WHAT HAPPENED IN 2023? billion each.

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Home Insurance Policyholder Out-Of-Pocket Property Damage 52

AMAXX

AUGUST 12, 2024

In workers’ compensation, communication with injured workers is a critical aspect that can significantly influence the outcome of a claim. It helps to build trust between the worker, the employer, and the claims management team. It’s essential to communicate the process clearly and straightforwardly.

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Workers Comp Workers Compensation Injury Compensation 88

Scott Insurance

JANUARY 31, 2024

Although individual rates are based on specific factors such as location, credit score, claims history, age of dwelling and deductible, some general trends are leading to higher rates across the board. However, homeowners insurance generally operates on a lagged timeline regarding inflation.

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Premium Deductible Insurance Carrier Insurance 52

InsuredMine

MAY 2, 2024

In the context of insurance, they play a significant role in bridging the gap between insurance companies, technology providers, and consumers. Think of it this way, insurance companies have a wealth of data about their customers, policies, claims, and more. That’s where APIs come into action.

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Word & Brown

SEPTEMBER 13, 2024

5: Claims Protocols Even if it is not voiced by your prospects or clients in advance, it will eventually be important to know the claims processes for each selected carrier and health plan. You could also be asked about a plan’s claims efficiency rating or A.M. Claims processes vary by plan type and carrier or administrator.

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QuickQuote

JULY 20, 2023

Life insurance payouts may only be claimed if the insurance company can find a beneficiary or the beneficiary knows about the policy. Fortunately, these unclaimed life insurance policies can be found, regardless of how much time has passed.

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Smart Insurance Agents

OCTOBER 15, 2024

Health Insurance Plans Accepted at Mayo Clinic change year over year, so it is important to verify coverage with your health insurance company or your health insurance agent. Physicians Plus Insurance Corp. Some Employer Health Plans, Individual, and Medicare Plans are accepted. Colonial Oil) Consociate Care, Inc.

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