Property Insurance Coverage Law

DECEMBER 15, 2024

I have a vision of Amy Bach, the Executive Director of United Policyholders, jumping for joy as she read the North Carolina Supreme Court opinion, which the insurance industry must think of as a Friday the 13th ruling.

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Policyholder Damage Property Insurance Insurance Industry 100

Wren Insurance Agency

JANUARY 22, 2025

It's hard to imagine the enormous impact this tragic event will have on the state's insurance industry. Here in Florida unfortunately, we know the incredible damage wildfires can do. These risks are rated at a local level, not national, so the current fires in California will not affect Florida's home insurance rates.

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Home Insurance Insurance Insurer Insured 65

American Agents Alliance

JANUARY 11, 2025

These wildfires have caused historic damage, claimed lives, and threatened communities. As stories of resilience and courage emerge and the fires are contained, agents and brokers provide critical insurance support for policyholders. See how weve been empowering independent P&C agents and brokers to thrive since 1962.

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Insurance Industry Risk Broker-Agent Policyholder 52

Triple-I: Homeowners Insurance

FEBRUARY 13, 2025

Property damage liability claims per 100 insured vehicles are 15 percent higher, and relative body injury claims frequency is 60 percent higher. Rising claim frequency and litigation costs put coverage affordability and availability at risk.

Commercial General Liability 89

Commercial General Liability Commercial Umbrella Claim Liability 89

Neilson Marketing Services

OCTOBER 2, 2024

For businesses in the insurance sector, which handles vast amounts of sensitive client data, this threat is especially menacing. A single breach could lead to devastating consequences, including financial losses, legal liabilities, damage to your reputation, and the potential loss of client trust.

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Cyber Damage Protection Financial Loss 104

American Agents Alliance

APRIL 3, 2025

The Relationship Between Tariffs and Insurance Costs Rising tariffs could impact many different lines of business, but some experts have narrowed their focus to the effects on homeowners and auto (both personal and commercial). This drives up the cost to repair, impacting claims costs. Become a member today!

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Agents Policyholder Premium Auto Insurance 52

Triple-I: Homeowners Insurance

JANUARY 13, 2025

Weather Experiences Nearly half of the participants reported damage to their homes after a severe weather event. About 34 percent said they filed an insurance claim after experiencing damage to their homes, and 45 percent said they hired a contractor. Between 1980 and 2024 (as of November 1), the U.S. However, the U.S.

Policyholder 79

Policyholder Claim Premium Risk 79

ProWriters

FEBRUARY 23, 2025

Merck won an appeal against and ultimately settled the coverage dispute with its insurers. Yet this high-profile case illustrates the insurance industry’s need to evolve policy language to address contemporary cyber risks, including state-sponsored cyber attacks.

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Cyber Insurance Insurer Insured 53

Bankers Insurance

OCTOBER 21, 2024

This year, Bankers Insurance is focusing on the most frequent causes of fire-related losses and sharing tips compiled by Travelers Insurance to help safeguard you and minimize fire losses. Regularly inspect electrical cords for any signs of fraying and replace damaged ones.

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Insurance Agent Insurance Agents Agents License 95

Rough Notes

DECEMBER 2, 2024

INSURANCE-RELATED COURT CASES Digested from case reports published online COURT DECISIONS Arson doesn’t pay A fire damaged a malt beverage store owned by A Maxon Company, LLC (AMC). The Weatherspoons counterclaimed for breach of […]

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Damage Policy Insurance Insured 52

Triple-I: Homeowners Insurance

NOVEMBER 5, 2024

For residents of both communities, this news comes as no surprise; their flood-resistant infrastructure and solar panel power systems have helped them survive several storms and hurricanes with only minor damages, demonstrating the utility of disaster resilience planning. Such planning is expensive to implement.

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Premium Risk Property Damage Damage 59

Protect Commercial Insurance

OCTOBER 11, 2024

These disasters cause exponential damage to commercial properties. Just imagine: a flood sweeping through a business district, causing structural damage and interrupting operations for weeks, if not months. The financial implications of such events are enormous and insurers certainly take notice.

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Commercial Property Commercial Insurance Policy Policy 52

InsuredMine

DECEMBER 26, 2024

Of this, flooding accounted for approximately $82 billion in damages, yet only $13 billion was covered by insurance, as reported by insurance firm Aon. In 2019 alone, disasters such as the Australian and Amazonian wildfires, severe flooding in the United States, and prolonged droughts in India caused widespread devastation.

Risk 105

Risk Claim Building Financial Loss 105

Triple-I: Homeowners Insurance

DECEMBER 5, 2024

Virginia and Florida, for example, have long-modeled robust building code systems, leading both to consistently top code adoption rankings especially after the latter saved an estimated $1 billion to $3 billion in averted damages during Hurricane Ian through its modern Florida Building Code.

Building 65

Building Risk Casualty Insurance Premium 65

Bankers Insurance

NOVEMBER 15, 2023

These issues can lead to expensive damage, operational disruptions, and potential safety hazards. Property damage: Burst pipes and malfunctioning sprinkler systems can result in substantial water damage to a building’s structure, interior, and equipment, incurring significant repair costs.

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Protection Damage Building Property Damage 52

Bankers Insurance

MAY 7, 2024

Insurance agency partners with the Red Cross to tackle national blood shortage Earlier this year, the American Red Cross (Red Cross) announced an emergency blood shortage as a result of the lowest number of people giving blood in the last 20 years.

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Insurance Insurer Insured Insurance Industry 52

Protect Commercial Insurance

SEPTEMBER 6, 2024

The Rise of Cyber Insurance As cyber threats become more sophisticated and frequent, the demand for cyber insurance has skyrocketed. Companies of all sizes are increasingly targeted by cybercriminals, and the consequences can be devastating—from financial losses to reputational damage.

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Commercial Insurance Commercial Cyber Insurance 52

Triple-I: Homeowners Insurance

JULY 9, 2024

While most farmers are insured against crop damage due to heat conditions and homeowners insurance typically covers wildfire-related losses, Porfilio noted, a “more subtle impact is on roofs that we thought were built to a 20-year lifespan.” This is what the insurance industry is prepared for,” Kevelighan said.

Risk 52

Risk Premium Damage Policy 52

Property Insurance Centre

OCTOBER 18, 2024

Recent data from 2023 and 2024 highlights the financial strain on insurers and property owners alike, driven by more severe storms, heavy rainfall, and unpredictable weather patterns. Rising Claims Due to Extreme Weather In 2023, UK insurers faced record-breaking claims from weather-related damage.

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Property Insurance Premium Insurance Insurer 52

Boston ERISA & Insurance Litigation

SEPTEMBER 24, 2024

Many of you know that I have been writing about the intersection of the insurance industry and climate change for almost long as this blog has existed.

Insurance 40

Insurance Insurer Insured Insurance Industry 40

Scott Insurance

JANUARY 28, 2022

While insurance coverage is typically relied upon for many property-related losses, there remains a disconnect about how mold claims are often handled by the insurance industry. Risk Management Considerations There are many factors that come into play when considering the environmental conditions that lead to the growth of mold.

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General Liability Deductible Liability Property Damage 52

Freeway Insurance

NOVEMBER 24, 2024

If two carriages collided, there simply wasnt a huge risk of damage due to their low speed. Laying Down the Law: The First Car Insurance Policies Motorized automobiles started cropping up in the late 1800s. Laying Down the Law: The First Car Insurance Policies Motorized automobiles started cropping up in the late 1800s.

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Auto Insurance Insurance Insurer Insured 52

Protect Commercial Insurance

DECEMBER 6, 2024

This era gave rise to specialised insurance products, covering factories, railways, and an expanding workforce. By the 20th century, the insurance industry began to reflect broader societal shifts. This real-time information enables insurers to offer dynamic pricing models that reflect actual risk more accurately.

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Commercial Insurance Commercial Insurance Insurer 52

Jackson & Jackson

AUGUST 16, 2024

This guide aims to shed light on the basics of homeowners insurance, the challenges specific to California’s insurance market, the reasons why finding coverage is more challenging now, tips for homeowners to navigate these obstacles, and a glimpse into the future of homeowners insurance in the state.

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Bankers Insurance

MAY 16, 2024

Additionally, more and more people live in wildland-urban interfaces, where homes can be particularly vulnerable to severe weather damage. As insurance companies leave certain markets or refuse to issue policies to certain properties, homeowners may be forced to seek more expensive options, such as state-supported insurers.

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Property Insurance Centre

MARCH 19, 2024

The Importance of Consumer Education Consumer education is a critical aspect of making informed decisions regarding insurance coverage and navigating the complexities of the insurance industry. By gaining insurance knowledge , individuals can protect their property effectively and avoid falling victim to insurance scams.

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Property Insurance Policyholder Insurance Insurer 52

Zywave

NOVEMBER 20, 2024

Commercial Property: Extreme weather events continue to lead to extreme property damage. Repairing this damage also continues to be more expensive due to inflation. Employers should prioritize mental health resources and clear policies to handle workers’ comp claims as efficiently as possible.

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Workers Comp Commercial Property Cyber Commercial 52

LexisNexis

DECEMBER 3, 2024

Get the knowledge you crave from this comprehensive and illustrated primer outlining the technical underpinnings, legal implications, and insurance coverage possibilities for liabilities stemming from artificial intelligence (AI). This practice note includes thought leadership from a machine learning researcher at SonyAI.

Insurance 40

Insurance Insurer Insured Liability 40

LexisNexis

NOVEMBER 19, 2024

Get the knowledge you crave from this comprehensive and illustrated primer outlining the technical underpinnings, legal implications, and insurance coverage possibilities for liabilities stemming from artificial intelligence (AI). Includes thought leadership from a machine learning researcher at SonyAI.

Insurance 40

Insurance Insurer Insured Liability 40

Triple-I: Business Insurance

AUGUST 16, 2022

Source: International Chamber of Commerce/International Maritime Bureau (IMB) Many people outside the maritime and insurance industries don’t realize that piracy remains a costly peril in the 21 st century. Global insurer Zurich estimates the annual cost of piracy to the global economy at $12 billion a year.

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Cyber Damage Insurance Industry Risk 40

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 Commercial Property Liability Insurance 52

Jackson & Jackson

MAY 22, 2024

. “Understanding Multi-Family Property Insurance” Commercial property insurance is a vital safeguard for property owners, protecting their assets against various risks. It covers property damage, loss of income, liability claims, etc.

Property Insurance 52

Property Insurance Commercial Property Commercial Insurance 52

Bankers Insurance

OCTOBER 21, 2023

This year, Bankers Insurance is focusing on the most frequent causes of fire-related losses and sharing tips compiled by Travelers Insurance to help safeguard you and minimize fire losses. Regularly inspect electrical cords for any signs of fraying and replace damaged ones.

Insurance Agent 52

Insurance Agent Insurance Agents Agents License 52

Bankers Insurance

OCTOBER 9, 2023

This year, Bankers Insurance is focusing on the most frequent causes of fire-related losses and sharing tips compiled by Travelers Insurance to help safeguard you and minimize fire losses. Regularly inspect electrical cords for any signs of fraying and replace damaged ones.

Insurance Agent 52

Insurance Agent Insurance Agents Agents License 52

Bankers Insurance

AUGUST 8, 2024

For example, if an insured’s property is valued at $1 million, but their coverage limit is $700,000 and their policy includes an 80% coinsurance clause, they would likely receive only $43,750 after incurring $50,000 in property damage from a covered event, depending on when their deductible is applied (700,000/800,000) x 50,000 = 43,750).

Commercial Property 59

Commercial Property Property Insurance Commercial Out-Of-Pocket 59

Triple-I: Workers Compensation

APRIL 20, 2021

Similar federal “safe harbor” legislation for the insurance industry – the Clarifying Law Around Insurance of Marijuana Act (CLAIM Act) – was introduced last month. The CLAIM Act would let these businesses obtain insurance to cover the same risks of theft, damage, injury, loss, and liability as all other businesses.

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Risk Workers Compensation Commercial General Liability Liability 40

Protect Commercial Insurance

JANUARY 10, 2025

Heres how collaboration can enhance offerings in this field: – Comprehensive Coverage Packages : Partnership allows brokers to provide a full suite of insurance products. From property damage and liability to business interruption cover, clients get everything under one roof. Continuous improvement is key to long-term success.

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Building Broker Commercial Property Insurance 52