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Florida Insurance Regulators Demand Fair Treatment for Policyholders

Property Insurance Coverage Law

How do insurance claims work when your home has already been damaged once? A recent Florida Office of Insurance Regulation (OIR) Bulletin clarifies how insurers must handle claims for multiple hurricanes. As Florida residents, we know that hurricane season can be relentless.

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Old Damage, New Claim: Davies Risk Head Notes Rise in ‘Soft Fraud’ in Southeast

Insurance Journal

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 …

Damage 264
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Allianz Sees Damages Worth Tens of Millions for German Vineyards

Insurance Journal

Insurer Allianz SE expects to pay German winemakers tens of millions of euros in insurance claims this year after many vineyards lost their entire harvest to heavy frosts. While mild temperatures earlier in the year helped shoots to develop sooner, …

Damage 264
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Construction Financing and Factoring of Insurance Receivables—MMA Related Case Sheds Light on Factors in the Property Insurance Claim Industry

Property Insurance Coverage Law

Property damage insurance claims funding by factoring companies is a relatively recent phenomenon in the property insurance claims industry.

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Red Lobster Landlord Sues Insurer to ‘Clawback’ $1.2M Fire Claim Payment

Insurance Journal

The landlord for a fire-damaged building leased to a Red Lobster restaurant is blaming the restaurant’s insurer for causing it to lose out on $1.2 million in fire insurance claims payments to repair the property. RL New Brunswick Owner LLC, …

Claim 279
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Peopele Moves: iink Names Fleszar as CEO

Insurance Journal

iink, a provider of technology to streamline the property damage insurance claims process and support faster payments to contractors, property owners, and claim professionals, is pleased to announce the appointment of Scott Fleszar as its new Chief Executive Officer. Mr. …

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Order and Bind Insurance Before the Loss—Commercial Policy Covers Water Damage Under Drain Backup Endorsement

Property Insurance Coverage Law

This post highlights an agent’s binding authority under Michigan law and discusses important insurance principles concerning the “completed-loss” and “loss-in-progress” doctrines.