Property Insurance Coverage Law

OCTOBER 7, 2024

During my flood speech this morning at the Florida Association of Public Insurance Adjusters (FAPIA) Conference, a discussion about letters of representation was raised. FAPIA Vice President Frank Altieri noted that federal law applied and that the Florida regulations regarding providing a contract to the insurer do not apply.

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Property Insurance Coverage Law

OCTOBER 6, 2024

National flood insurance is unlike any other insurance. I have received numerous calls from furious Hurricane Helene policyholders after learning how little coverage is afforded for the non-elevated floor of a multi-story building under their flood insurance policies.

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Insurance Journal

OCTOBER 2, 2024

The number of property insurance claims in Florida from Hurricane Helene had topped 65,700 by Tuesday, far more than the 25,000 seen in Hurricane Idalia a year ago, the Florida Office of Insurance Regulation reported. The total estimated insured losses …

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Insurance Journal

OCTOBER 15, 2024

Property Insurance claims from Hurricane Milton had topped more than 123,000 by Sunday, with some $1.5 billion in estimated insured losses. That’s already more than the claims and losses reported for Helene, which made landfall in Florida two weeks earlier, …

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Insurance Journal

SEPTEMBER 25, 2024

Citizens Property Insurance Corp., Florida’s largest insurer, has suspended policy binding ahead of predicted Hurricane Helene, and a board member asked if the carrier could do more to help policyholders manage flood insurance claims from the looming storm. “My question …

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Property Insurance Coverage Law

OCTOBER 8, 2024

While speaking at the Florida Association of Public Insurance Adjusters Fall Conference regarding National Flood Insurance claims, I promised to blog about a recent case that made its way through the federal courts.

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Insurance Journal

SEPTEMBER 11, 2024

A month after Hurricane Debby made landfall in northern Florida, the number of property insurance claims has reached almost 20,000, and total estimated insured losses are more than $121.5 million, the Florida Office of Insurance Regulation reported this week. The …

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Insurance Journal

AUGUST 1, 2024

The Tennessee Department of Commerce and Insurance so far this year has secured more than $9.5 million for policyholders whose insurance claims had been denied, the department announced this week. The payments, mostly from property insurers, are the result of …

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Insurance Journal

SEPTEMBER 2, 2024

And he may be the best friend the Florida property insurance industry has. He’s been called “eccentric,” a “do-gooder,” a “troublemaker” and a whistleblower. A mechanical engineer based in Edgewater, George Miles has filed formal complaints with the Florida Board …

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Property Insurance Coverage Law

OCTOBER 11, 2024

The Florida Department of Financial Services (DFS) issued Emergency Rule 69BER24-4, which aims to address issues in the property insurance claims process. While the rule attempts to improve transparency and accountability, it raises several concerns and potential unintended consequences.

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The Property Insurance Law Observer

OCTOBER 16, 2024

In the recent decision Universal Property & Casualty Insurance Co. The court emphasized that under both the insurance policy’s plain language and Florida Statute §627.7011(3)(a), payment of replacement cost value is contingent upon the actual completion of repairs.

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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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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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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. That’s where accurate insurance-to-value (ITV) calculations come into play.

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Property Insurance Coverage Law

AUGUST 7, 2024

Wildfire season is here, and if you’ve experienced a loss, navigating your insurance claim can be daunting. Here’s what Californians need to know on day one to get your claim off on the right footing. appeared first on Property Insurance Coverage Law Blog.

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Property Insurance Coverage Law

SEPTEMBER 26, 2024

Consequential damages play a significant role in both contract law and insurance claims, but they operate under different frameworks and have distinct implications depending on the context. Consequential damages in insurance claims are indirect losses resulting from — but … The post What Are Consequential Damages?

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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.

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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.

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Insurance Journal

AUGUST 22, 2024

A former West Virginia volunteer fire official is awaiting sentencing after he admitted to setting fire to his home, filing an insurance claim, and using the fire department’s credit card for personal gain. Ennis, 43, of St. Albans, …

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Insurance Journal

SEPTEMBER 12, 2024

Did you hear the one about cat poop clogging a toilet, resulting in thousands of gallons of sewage water in the home and a big insurance claim? Lin Werkheiser, an insurance fraud investigator, has heard that one and many more …

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Property Insurance Coverage Law

OCTOBER 22, 2024

Policyholders and public adjusters need to be aware that National Flood Insurance claims are very technical with demanding deadlines that must be met.

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Property Insurance Coverage Law

SEPTEMBER 3, 2024

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.

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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

JULY 25, 2024

June 24, 2024) offers valuable lessons for policyholders regarding the importance of cooperation in the insurance claims process. In Marcantel , the plaintiff suffered damage from Hurricane Laura at two properties in Louisiana. The ruling in Marcantel emphasizes the importance of cooperation in the insurance claims process.

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The Property Insurance Law Observer

SEPTEMBER 16, 2024

Liberty Mutual Insurance Company , the U.S. Court of Appeals reviewed a summary judgment ruling in favor of co-defendant West American Insurance Company (“West American”), issued by the U.S. The 6th Circuit held that the property policy’s cosmetic damage exclusion applied to bar coverage because the insured, J&S Welding, Inc.

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Property Insurance Centre

SEPTEMBER 25, 2024

Top Building Insurance Pitfalls Here are some common pitfalls to avoid when getting building insurance in the UK: – Underinsuring. Insure your building at the amount that it will cost to rebuild it and not at the current market value when securing block of flats insurance. – Not considering inflation.

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Property Insurance Centre

JANUARY 30, 2024

Freehold Block of Flats Insurance: Top Cover Tips If you own a freehold block of flats , it’s crucial to have the right insurance coverage to protect your investment. Standard home insurance policies may not provide adequate protection for the unique risks associated with a block of flats.

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Prof. Allan Manning

JULY 29, 2024

Realising the importance of ongoing learning, LMI held their annual conference for the claims team in Sydney last week. During the conference it was appropriate to acknowledge and present 10 year service awards to Caroline Stevens from LMI Forensics and Georg Froeschl from LMI Claims. Something that LMI Group take very seriously.

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Risk Management Monitor

NOVEMBER 8, 2021

One of the first steps in obtaining commercial property insurance is to determine the value of the property being insured. The reported property value will drive premium amounts and, importantly, represents the property loss exposure. Accounting for new assets is a straightforward process of addition.

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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 …

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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, …

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Prof. Allan Manning

FEBRUARY 24, 2024

Today marks LMI Group’s quarter century of service to the insurance industry and wider communities. May 2002: First of now 17 books on insurance and risk management launched. The first was Business Interruption Insurance and Claims soon to be printed in its 6th Edition. March 2003: LMI Sydney office opens.

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Insurance Journal

SEPTEMBER 23, 2024

The US Gulf Coast from Mississippi to the Florida Panhandle is at risk of a hurricane strike by the end of the week as a patch of turbulent weather in the Atlantic becomes more organized. Currently a swirl of thunderstorms …

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Insurance Journal

AUGUST 9, 2024

POOLER, Ga. (AP) AP) — The water began seeping into Keon Johnson’s house late Monday night after Tropical Storm Debby had been dumping rain nearly nonstop throughout the day. By Tuesday morning, Johnson’s street was underwater and flooding inside his home …

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Bankers Insurance

NOVEMBER 15, 2023

Increased insurance costs: Businesses affected by frozen pipes or sprinkler system issues may need to file insurance claims for repair and restoration expenses, potentially resulting in elevated insurance premiums in the future. For more information, contact your Bankers Insurance agent. Not a client of ours?

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Prof. Allan Manning

JULY 5, 2023

Just a reminder that there is only 3 weeks to go before the 2023 Mansfield Awards, which is now in its 7th year! The awards night will be held at The Establishment Ballroom, located at 252 George St, Sydney. The function starts at 6pm, with the awards portion running for approximately 1 hour, during which 6 awards will be presented.

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Wren Insurance Agency

MAY 22, 2024

In Florida, a townhome is either insured as a single-family home (through an HO3 policy), or as a condominium (an HO6). The type of property insurance you need is dependent on how your community is insured as a whole. Roof included. If you're not exactly sure what you're looking for, just give us a call.

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