The Property Insurance Law Observer

MARCH 12, 2024

The Court considered whether the Plaintiffs’ loss was caused by theft or vandalism, as neither term was defined in the policy. In Cheung, the Plaintiffs, who resided in California, purchased property in scenic Mount Vernon, Washington, in July 2021, and insured the property through a policy of insurance issued by Allstate.

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Theft Insurance Policy Policy Personal Property 130

Insurance Journal

OCTOBER 15, 2024

They make insureds less likely to file smaller claims because either damage falls within the deductible, or is so close to it that the policyholder would rather not … Deductibles serve several purposes. They provide some premium relief for the insured.

Deductible 264

Deductible Policyholder Premium Damage 264

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 …

Policyholder 285

Policyholder Insurance Policy Policy Insurance 285

American Agents Alliance

SEPTEMBER 30, 2024

Learn more about how to help policyholders prepare for the unexpected with helpful tips. How to Help Policyholders With Proactive Disaster Planning An important start to disaster planning is considering whether or not a potential loss would be covered by insurance. Provide expert educational services for policyholders.

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Policyholder Broker-Agent Personal Property Agents 52

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. LEXIS 111077 (W.D.

Damage 130

Damage Personal Property Policyholder Claim 130

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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Broker-Agent Broker Agents Claim 52

American Agents Alliance

OCTOBER 24, 2024

By Mark Robinson In July 2024, a significant class action lawsuit was filed against the California FAIR Plan, accusing the state’s fire insurance backstop of improperly denying smoke damage claims in violation of California Insurance Code Sections 2070 and 2071.

Damage 52

Damage Claim Broker-Agent Policyholder 52

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, …

Policyholder 147

Policyholder Insurance Policy Policy Insurance 147

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.

Commercial Insurance 40

Commercial Insurance Commercial Insurance Claim Claim 40

The Property Insurance Law Observer

JULY 29, 2024

Ending a putative class action, the United States Court of Appeals for the Fifth Circuit examined policy language and two statutes to hold that an insurer does not owe sales tax on top of an actual cash value payment. The policyholder’s contract provided: Limit of liability A. The address shown in this policy. July 24, 2024).

Policyholder 130

Policyholder Damage Deductible Liability 130

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 of Claims Avg.

Claim 52

Claim Damage Protection Policyholder 52

American Agents Alliance

OCTOBER 8, 2024

E&O claims continue to grow in complexity along with the changing insurance landscape. Technology offers innovative ways to track and reduce E&O claims with robust tools. These technologies have changed how agents and brokers manage risk and advise policyholders, introducing the potential for new E&O claims.

Claim 52

Claim Broker-Agent Agents Broker 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. Key Factors Behind Aspray’s Success 1.

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Claim Property Damage Property Insurance Building 52

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.

Insurance Claim 52

Insurance Claim Claim Protection Out-Of-Pocket 52

The Property Insurance Law Observer

MARCH 4, 2024

At issue in the case was the application of the policy’s wear and tear exclusion and its exceptions. The insurance policy covered direct physical loss but contained an exclusion for physical damage caused by wear and tear, marring or deterioration.

Damage 130

Damage Policy Claim Property Damage 130

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. This guide draws on some information from America as well as the UK.

Property Insurance 52

Property Insurance Policyholder Insurance Insurer 52

American Agents Alliance

NOVEMBER 9, 2024

Independent P&C agents and brokers who reside and work in this region must also know how to help policyholders manage earthquake risk. Learn more about how agents can help their policyholders manage earthquake risk in this blog. This coverage gap means agents must educate policyholders to help ensure they have adequate protection.

Agents 52

Agents Risk Broker-Agent Policyholder 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.

Home Insurance 52

Home Insurance Policyholder Out-Of-Pocket Insurance 52

Wren Insurance Agency

NOVEMBER 13, 2024

Costs can be higher for policyholders and if a surplus lines carrier goes insolvent, existing claims will not be paid by the State.

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Insurance Carrier Liability Insurance Insurance Insurer 84

American Agents Alliance

NOVEMBER 15, 2024

Collaborative partnerships with carriers improve service for policyholders, enhance an agency’s growth potential, and provide learning opportunities for agents. Offer feedback from policyholders and constructive thoughts when interacting with carrier partners. Every relationship is enhanced by clear, open communication.

Building 52

Building Agents Broker-Agent Policyholder 52

Property Insurance Centre

MAY 17, 2024

The Insurance Act 2015 IMPORTANT INFORMATION – PLEASE READ Duty of Fair Presentation The Insurance Act 2015 imposes an obligation on all policyholders to “make a fair presentation of the risk” prior to the policy commencing. What is reasonable will depend upon the nature of your business and the policy you are purchasing.

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Premium Insurance Insurer Insured 52

American Agents Alliance

OCTOBER 4, 2024

Today’s policyholders have higher expectations than ever before and they are familiar with using intuitive, advanced tech in their personal lives. Read on to learn more about how to create a hybrid insurance experience for your policyholders. Offer policyholders the option between a live consultation and a virtual one.

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Broker-Agent Policyholder Agents Insurance 52

TGS

OCTOBER 30, 2024

TGS Insurance » Blog 5 Must-Know Tips for Comparing Home Insurance Quotes Choosing the right home insurance policy can sometimes feel like trying to find the perfect coffee order—it’s a delicate balance between what you need and what works best for your wallet. Sure, the premium—the amount you pay for the policy—matters. That’s right.

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Insurance Quotes Home Insurance Deductible Out-Of-Pocket 52

Smart Insurance Agents

SEPTEMBER 7, 2024

Dependent Definition For Health Insurance Terms In health insurance, a dependent is a person who follows certain rules set by the insurance policy. They can get health coverage under the plan of the policyholder. Dependents get the same or similar health benefits as the main policyholder.

Policyholder 52

Policyholder Insurance Insurer Insured 52

Property Insurance Centre

NOVEMBER 11, 2024

Unfortunately, customers are more often than not caught in the middle, and end up having to fork out more money to pay for policies or settle for lesser cover. Let’s have a look at them… Don’t claim for everything – One thing insurers do not like, is a policyholder that claims over multiple times a year & for the smallest thing.

Insurance 52

Insurance Insurer Insured Premium 52

Scott Insurance

JANUARY 31, 2024

According to Money.com , an independent publisher, recent year-over-year premium increases have averaged 20%, and policyholders should expect to see at least a 10-15% increase in 2024. Increased Replacement costs Most homeowners policies are designed to completely pay for replacing a home in the event of a total loss.

Premium 52

Premium Deductible Insurance Insurer 52

American Agents Alliance

OCTOBER 18, 2024

These challenging conditions call for a strategic approach focused on policyholder needs. Data analytics can provide insights that agents can use to better understand their policyholders, leading to personalized service and recommendations that improve retention rates. Mitigate E&O exposure in tough insurance markets.

Agents 52

Agents Broker-Agent Policyholder Broker 52

American Agents Alliance

JUNE 24, 2024

With innovations changing the way policyholders buy insurance, interact with their agents, and file a claim, the entire ecosystem looks and feels different than in the past. They can help manage policyholder interactions, track policy changes and renewals, and automate certain activities, like customer communications.

Insurance Agency 52

Insurance Agency Broker-Agent Policyholder Agents 52

Triple-I: Workers Compensation

JULY 22, 2024

By Max Dorfman, Research Writer, Triple-I For the last 35 years, the National Conference of Insurance Guaranty Funds (NCIGF) – an organization dedicated to serving 55 property/casualty state guaranty funds – has provided operational support; communications, education, and outreach; as well as public policy management for these organizations.

Workers Compensation 52

Workers Compensation Insurance Insurer Insured 52

American Agents Alliance

JULY 5, 2024

Review prior claims and losses and use data this data to identify the highest-risk areas of the agency. Then action plan around these risky workflows by training agents and implementing standard operating procedures to help lower the risk of a claim from these higher-risk activities. Analyze performance data of the agency frequently.

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Risk Broker-Agent Agents Policyholder 52

InsuredMine

JULY 19, 2024

Insurance agencies once focused primarily on assessing risks, underwriting policies, and managing claims. This innovative approach combines big data, machine learning, and advanced statistical techniques to forecast which policyholders are likely to discontinue their coverage. However, the landscape has shifted dramatically.

Risk 52

Risk Policyholder Insurance Insurer 52

LexisNexis

AUGUST 6, 2024

Insurance Coverage for PFAS Liability Address potential insurance coverage for tort and environmental liability arising from PFAS compounds. Practical Guidance Updates Featuring the latest updates from your Practical Guidance account.

Commercial General Liability 40

Commercial General Liability Liability General Liability Policy 40

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. Define the maximum amount that you are willing to spend additional in the case of a claim.

Building 52

Building Insurance Insurer Insured 52

Hunton Andrews Kurth

MARCH 3, 2023

A comprehensive cyber policy covers attorneys’ fees and costs associated with formal regulatory or administrative investigations, including any resulting in penalties or fines. However, policyholders should be aware of the terms of their policies.

Cyber 52

Cyber Policyholder Policy Insurance 52

Protect Commercial Insurance

OCTOBER 4, 2024

They can be set by central banks and are influenced by several factors, including inflation, economic growth, and monetary policy decisions. Sometimes, changes in global financial markets or government policies can also be catalysts for rate hikes. Definition and Causes Interest rates are, essentially, the cost of borrowing money.

Property Insurance 52

Property Insurance Out-Of-Pocket Premium Insurance 52

Protect Commercial Insurance

JANUARY 21, 2021

The updated key takeaways for policyholders are as follows: 1: Notifiable Disease: cover will be available under all of the Notifiable Disease extensions considered by the Supreme Court for losses caused by the wider COVID-19 pandemic. It remains the case that not all policies will respond to COVID-19 BI losses.

Business Interruption 52

Business Interruption Policyholder Claim Commercial 52

American Agents Alliance

JUNE 10, 2024

Policies have to change to keep up with technology and other risks and opportunities. Here are some trends likely to affect E&O policies: More cyber coverage will be integrated into E&O policies. Increased customizations will be available with E&O policies.

Broker-Agent 40

Broker-Agent Cyber Agents Policy 40