Property Insurance Coverage Law

AUGUST 18, 2024

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

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Property Insurance Coverage Law

SEPTEMBER 3, 2024

On February 5, 2019, Opera Block’s owner, Timothy … The post Order and Bind Insurance Before the Loss—Commercial Policy Covers Water Damage Under Drain Backup Endorsement appeared first on Property Insurance Coverage Law Blog.

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Property Insurance Coverage Law

OCTOBER 21, 2024

The Fifth Circuit Court of Appeals changed that with an extensive discussion of Kermith’s expert damages testimony and opinions in the case analyzed in yesterday’s post, Church Mutual Prevails in Latest Hurricane Laura Bad Faith Case: Key Differences … The post Lessons For Expert Damage Estimators From Kermith Sonnier’s Back-To-Life Legal Highlight (..)

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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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Insurance Journal

JULY 11, 2024

posing greater risks to homeowners and mortgage lenders—and since flood damage tends to lower the market value of affected homes, it’s more likely that homeowners … Climate change is expected to increase the frequency and severity of floods in the U.S.,

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Property Insurance Coverage Law

OCTOBER 2, 2024

Recent investigative reporting by CBS’s 60 Minutes, noted in CBS 60 Minutes Exposes Alleged Insurance Company Fraud: Adjusters Reveal Altered Hurricane Damage Estimates by Claims Management, has exposed alleged widespread underpayments of claims and unethical claims practices in Florida’s property insurance industry.

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Insurance Journal

AUGUST 9, 2024

Reports from Gallagher Re and the Florida Office of Insurance Regulation suggest that Tropical Storm Debby will not be a heavy lift for property insurers and reinsurers. “Early assessments suggest wind-related physical damage (is) not as extensive as initially feared,” …

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Property Insurance Centre

OCTOBER 18, 2024

How the Climate Crisis is Impacting the UK Property Insurance Market in 2023-2024 The UK property insurance market is increasingly being reshaped by the climate crisis , with extreme weather events such as storms and flooding becoming more frequent and costly. billion in property claims, marking a historic high.

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Property Insurance Coverage Law

SEPTEMBER 29, 2024

As Hurricane Helene victims begin to assess the damage to their properties, they face not only the immediate challenges of recovery but also potential long-term implications due to federal regulations. One such regulation that could significantly affect rebuilding efforts is FEMA’s 50% Rule.

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Jackson & Jackson

APRIL 26, 2024

One of the most crucial aspects to consider is commercial property insurance. This guide aims to help new investors understand the basics of commercial property insurance in California, ensuring that their investments are protected against unforeseen events. This is crucial if someone is injured on your property.

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Jackson & Jackson

MAY 22, 2024

Investors must understand the importance of securing comprehensive commercial property insurance coverage to protect their investments. This article aims to provide an in-depth overview of ensuring multi-unit commercial properties in California, highlighting key considerations for investors.

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The Property Insurance Law Observer

OCTOBER 16, 2024

The ruling reversed a jury award for homeowners who had sold their property without performing the necessary repairs, addressing a crucial question about recovery for unperformed repairs in property insurance claims. Universal”) after their property sustained water damage that led to mold. in damages.

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Jackson & Jackson

APRIL 30, 2024

For property investors and owners, understanding how location impacts insurance rates is crucial for financial planning and investment decisions. This article explores how various location-based factors affect commercial property insurance rates in California and offers insights for managing these costs effectively.

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Property Insurance Coverage Law

OCTOBER 23, 2024

While Jimmy Patronis and Governor DeSantis trumpet their latest emergency rule as consumer protection following the CBS 60 Minutes Expose noted in CBS 60 Minutes Exposes Alleged Insurance Company Fraud: Adjusters Reveal Altered Hurricane Damage Estimates by Claims Management, the reality reveals a different story.

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Property Insurance Coverage Law

NOVEMBER 8, 2024

It is estimated that the Marshall Fire totally destroyed no less than 1,084 homes, and damaged thousands more with penetrating toxins of smoke, ash, char, and soot. Marshall Fire Claims Set to Expire on December 30, 2024 – What You Need to Know Now appeared first on Property Insurance Coverage Law Blog.

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Property Insurance Centre

MARCH 19, 2024

Understanding Consumer Education and Property Insurance As an informed consumer, education on consumer rights and property insurance is crucial. It empowers individuals to make informed decisions about insurance coverage and understand their policy rights. An immediate response to property damage is crucial.

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Bankers Insurance

AUGUST 8, 2024

THE IMPORTANCE OF ACCURATE VALUATION IN COMMERCIAL PROPERTY INSURANCE When purchasing or renewing commercial property insurance , it’s important for businesses to ensure their coverage includes correct property valuations. Additionally, property undervaluation can result in coinsurance penalties.

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Property Insurance Coverage Law

SEPTEMBER 23, 2024

Key Takeaways: Hazard insurance refers to the part of a homeowners policy that covers damage to the structure. Potential sources of damage include fire, lightning, hail, and windstorms. … The post What Is Hazard Insurance for Homeowners and What Does It Cover?

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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 Coverage Law

OCTOBER 1, 2024

You can read about the story from my post, CBS 60 Minutes Exposes Alleged Insurance Company Fraud: Adjusters Reveal Altered Hurricane Damage Estimates … The post Heritage Insurance Under Scrutiny: Analyzing the CBS 60 Minutes Exposé and Questions of Internal Controls appeared first on Property Insurance Coverage Law Blog.

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Insurance Journal

JULY 19, 2024

MIAMI GARDENS, Fla. (AP) AP) — Colombia’s soccer federation president and his son were among 27 people arrested during the crowd control issues that broke out at the Copa America final between Argentina and Colombia, a melee that may have caused …

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Property Insurance Coverage Law

AUGUST 14, 2024

One of the more complex damage issues that must be addressed in all fire, smoke, and heat claims is the amount of damage to personal property in areas of a structure far away from the main fire.

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Property Insurance Coverage Law

AUGUST 30, 2024

appeared first on Property Insurance Coverage Law Blog.

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Property Insurance Coverage Law

SEPTEMBER 23, 2024

A federal court in Louisiana recently denied most of an insurer’s motion for summary judgment in a bad faith case arising from a disputed winter storm damage claim.

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Property Insurance Coverage Law

OCTOBER 10, 2024

When your home is damaged, it’s natural for most homeowners to call their insurance agent. But insurance agents don’t handle claims. Your agent is usually the first person who comes to mind because they sold you the policy. That job belongs to an adjuster.

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Property Insurance Coverage Law

SEPTEMBER 4, 2024

Yesterday’s post about a Michigan coverage case, Order and Bind Insurance Before the Loss—Commercial Policy Covers Water Damage Under Drain Backup Endorsement, noted that there was also an issue with insurance agent negligence.

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Property Insurance Coverage Law

AUGUST 4, 2024

Insurance policies protect you from the cost of replacing lost, damaged, or stolen items: or at least, that’s how they’re supposed to work. But what happens if your insurance company refuses to pay what you are owed? appeared first on Property Insurance Coverage Law Blog.

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Property Insurance Coverage Law

AUGUST 22, 2024

Many of the damages are hidden, and the party whom everybody is counting on to finance the repair, the insurance company, is often not in a position to approve or promise any reconstruction project … The post Are Many Restoration Contracts Unenforceable Because They Lack a Specific Price and Scope of Work?

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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 Insurance Coverage Law

SEPTEMBER 22, 2024

A recent ruling by a federal trial court stated that the policyholder claimed that a severe hailstorm on May 28, 2021, caused extensive damage to his property, including damage to the roof, vents, flashings, windows, window screens, fascia, gutters, downspouts, and HVAC system.

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Property Insurance Coverage Law

SEPTEMBER 15, 2024

If you’ve suffered property loss or damage, knowing what your insurance covers is crucial. Understanding recoverable depreciation can help policyholders get the full replacement cost for damaged or destroyed items, not just their depreciated value. What … The post What Is Recoverable Depreciation in Home Insurance?

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Insurance Journal

OCTOBER 28, 2024

Costly reinsurance, inflation, tough regulations, and increasing weather-related claims are driving up property insurance prices—and in turn, that is impacting commercial real estate returns, valuations, and transactions, a new report shows. The Urban Land Institute and real estate investment management …

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Insurance Journal

NOVEMBER 21, 2024

AP) — A combination of severe hurricane damage to Tropicana Field and political delays on financing means it is highly unlikely the Tampa Bay Rays’ planned new stadium will be ready for the 2028 season, if at … PETERSBURG, Fla. (AP)

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Insurance Journal

OCTOBER 30, 2024

Surgery schedules around the country may be washed out for several more weeks while a crucial IV and sterile fluids factory remains shut down for hurricane-related damage. People often plan non-emergency surgeries in the fall and early-winter months when their …

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Property Insurance Coverage Law

AUGUST 30, 2024

It’s distinct from workers’ compensation insurance; workers’ comp (as it’s often called) provides benefits to employees who are injured on the job, while employer’s liability insurance covers the employer’s legal costs and potential damages if an employee … The post What Is Employers Liability Insurance?

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Insurance Journal

SEPTEMBER 15, 2024

A Colorado man was charged with arson after an investigation into a wildfire this summer that destroyed 29 homes and caused more than $30 million in property damage, authorities said. Jason Alexander Hobby, 49, was arrested last week, Larimer County …

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Insurance Journal

OCTOBER 23, 2024

More loss and claims estimates are trickling in from carriers after Hurricane Milton caused widespread wind and flood damage in Florida this month. Tampa-based Heritage Insurance Holdings said in a preliminary statement that about two weeks after Milton made landfall …

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