Property Insurance Coverage Law

NOVEMBER 23, 2024

A recent court decision highlights why policyholders need to understand both the benefits and limitations of Inflation Guard Endorsements in their property insurance policies. While these endorsements aim to protect against underinsurance, they may not provide the complete protection many assume they do.

Property Insurance 100

Property Insurance Policyholder Insurance Policy Protection 100

Property Insurance Coverage Law

SEPTEMBER 24, 2024

In a significant move to protect policyholders, the Michigan Department of Insurance and Financial Services (DIFS) issued a groundbreaking bulletin that explicitly prohibits insurers from depreciating labor costs when calculating actual cash value (ACV) in homeowner insurance claims.

Property Insurance 199

Property Insurance Insurance Claim Claim Policyholder 199

Property Insurance Coverage Law

DECEMBER 3, 2024

For those battling insurance coverage issues in Texas, The Zelle Lonestar Lowdown offers invaluable monthly insights into Texas first-party property insurance law and claims. Steve Badger’s firm biography references a newsletter, The Zelle Lonestar Lowdown.

Property Insurance 100

Property Insurance Insurance Insurer Insured 100

Property Insurance Coverage Law

AUGUST 6, 2024

Florida’s property insurance market is facing unprecedented challenges, leaving policyholders with inadequate coverage at significantly higher rates. The term “shrinkflation,” commonly associated with consumer goods, is now being used to describe a troubling trend in the insurance industry.

Property Insurance 149

Property Insurance Policyholder Insurance Industry Insurance 149

Property Insurance Coverage Law

NOVEMBER 17, 2024

Do you know the historical origins of a property insurance policy’s proof of loss requirement? I love my fellow property insurance coverage nerd readers of this blog. appeared first on Property Insurance Coverage Law Blog. What Was Its Original Purpose?

Property Insurance 100

Property Insurance Insurance Policy Policy Insurance 100

Property Insurance Coverage Law

AUGUST 17, 2024

The homeowners property insurance landscape is shifting rapidly, driven by advancements in artificial intelligence (AI) and surveillance technology.

Property Insurance 139

Property Insurance Insurance Companies Insurance Insurer 139

Property Insurance Coverage Law

AUGUST 28, 2024

An “other insurance” clause is a provision found in property insurance policies that establishes how a loss is to be apportioned among insurers when more than one policy covers the same loss. The original purpose of an “other insurance” clause is debatable.

Property Insurance 121

Property Insurance Insurance Policy Policy Policyholder 121

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.

Property Insurance 130

Property Insurance Insurance Claim Claim Property Damage 130

Insurance Journal

NOVEMBER 22, 2024

Weiss Ratings, a Palm Beach Gardens financial ratings firm, sparked some outrage from the Florida insurance industry in recent weeks after it released reports contending that some of Florida’s largest property insurers were closing almost half of their hurricane claims …

Property Insurance 278

Property Insurance Insurance Industry Insurance Insurer 278

Simply Insurance

SEPTEMBER 6, 2024

The annual rental property insurance rates by state for a rental property is $1,516 per year. See how your state compares to the national average.

Property Insurance 59

Property Insurance Insurance Insurer Insured 59

Insurance Journal

NOVEMBER 25, 2024

Along with the rising cost of living in many facets of families’ daily lives, property insurance availability and affordability continue to be a challenge across the U.S. Inflation has been persistently increasing repair, labor, and medical costs. And legal system …

Premium 263

Premium Property Insurance Insurance Insurer 263

Insurance Journal

NOVEMBER 6, 2024

By this time next year, plaintiffs lawyers, who have frequently been held up as thorns in the side of the Florida property insurance industry for their sometimes-aggressive pursuit of policyholder claims litigation, could have a stamp of credibility to brandish …

Policyholder 263

Policyholder Property Insurance Insurance Industry Claim 263

Protect Commercial Insurance

OCTOBER 4, 2024

But what does this mean for property owners and their insurance needs? As interest rates creep up, they can have a surprising ripple effect on property insurance costs. Recent years, however, have seen gradual rises, sparking concerns in many sectors, including real estate and insurance.

Property Insurance 52

Property Insurance Out-Of-Pocket Premium Insurance 52

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 …

Risk 264

Risk Property Insurance Commercial Insurance 264

Insurance Journal

NOVEMBER 3, 2024

This means that the changes happening in the property insurance market o which safeguards this asset o are … By Andrew Mais, Jon Godfread, Scott White, & Elizabeth (Beth) Kelleher Dwyer Most homeowning Americans consider their home their most valuable asset.

Property Insurance 298

Property Insurance Insurance Insurer Insured 298

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.

Property Insurance 52

Property Insurance Premium Insurance Insurer 52

Insurance Journal

NOVEMBER 4, 2024

North Carolina Insurance Commissioner Mike Causey is reminding property insurers to refrain from raising homeowners’ premiums just because an insured filed a claim or inquiry in order to qualify for flood insurance indemnity or federal assistance. In most cases, the …

Premium 264

Premium Underwriter Underwriting Property Insurance 264

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.

Claim 265

Claim Property Insurance Damage Insurance Industry 265

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 …

Property Insurance 306

Property Insurance Insurance Industry Insurance Insurer 306

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.

Property Insurance 52

Property Insurance Commercial Property Commercial Insurance 52

Property Insurance Coverage Law

NOVEMBER 2, 2024

As the traditional insurance market continues to harden, policyholders are increasingly exploring parametric hurricane insurance as a complement and sometimes a substitute to their existing property insurance coverage. What Is Parametric Hurricane Insurance?

Property Insurance 130

Property Insurance Policyholder Insurance Insurer 130

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.

Commercial Property 59

Commercial Property Property Insurance Commercial Out-Of-Pocket 59

Insurance Journal

AUGUST 18, 2024

By Patrick Wraight A recent Insurance Journal article decried the state of insurance for churches and it’s mostly about their property insurance issues and we all know that the property insurance space has struggled in recent years, especially in storm-prone …

Property Insurance 246

Property Insurance Insurance Insurer Insured 246

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.

Property Insurance 52

Property Insurance Commercial Property Liability Insurance 52

Property Insurance Coverage Law

SEPTEMBER 30, 2024

In a shocking exposé aired last night on CBS’s 60 Minutes, allegations of widespread insurance fraud by insurance companies following Hurricane Ian were exposed.

Insurance Companies 304

Insurance Companies Damage Claim Property Insurance 304

Insurance Journal

JULY 11, 2024

California Insurance Commissioner Ricardo Lara today ordered insurers to preserve residential property insurance coverage for roughly 46,000 policyholders affected by the Thompson Fire in Butte County. The move follows an emergency declaration over the fire from Gov. Gavin Newsom on …

Policyholder 265

Policyholder Property Insurance Insurance Insurer 265

Insurance Journal

AUGUST 7, 2024

If a property insurer is going to object to an appraisal panel member’s fee arrangement, it must do so early in the process – not after the panel provides an unfavorable, multimillion-dollar appraisal award. That was the word this week …

Property Insurance 299

Property Insurance Insurance Insurer Insured 299

Insurance Journal

NOVEMBER 8, 2024

Florida’s Citizens Property Insurance Corp. Citizens, the largest property insurer in the state, ended the … has lifted its suspension on binding of policies as Hurricane Rafael turned away from Florida and was tracking toward Mexico and was expected to weaken.

Property Insurance 263

Property Insurance Policy Insurance Insured 263

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,” …

Property Insurance 264

Property Insurance Damage Insurance Insurer 264

Property Insurance Coverage Law

OCTOBER 3, 2024

Filing a property insurance claim can feel unfamiliar to many. Stay Organized After filing your claim, keep all … The post What to Do After Filing the Insurance Claim appeared first on Property Insurance Coverage Law Blog.

Insurance Claim 193

Insurance Claim Claim Property Insurance Insurance 193

Property Insurance Coverage Law

NOVEMBER 19, 2024

The truth about Florida’s property insurance market requires honest discussion, even when it means acknowledging valid points from all sides. However, this candor only reinforces the troubling reality facing Florida’s policyholders.

Claim 190

Claim Policyholder Property Insurance Insurance 190

Property Insurance Coverage Law

AUGUST 23, 2024

I embarked on a journey from the sun-soaked shores of Tampa to the hallowed halls of the Insurance Library Association of Boston with visions of endless shelves brimming with insurance maps and dusty 19th-century … The post The Boston Insurance Library appeared first on Property Insurance Coverage Law Blog.

Insurance 230

Insurance Insurer Insured Property Insurance 230

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.

Property Insurance 52

Property Insurance Policyholder Insurance Insurer 52

Property Insurance Coverage Law

OCTOBER 4, 2024

National Flood Insurance claims are notoriously complex and exacting. Most policyholders are unaware that National Flood claims are among the most difficult property insurance claims to handle correctly, and that the National Flood Insurance adjuster has limited authority.

Insurance Claim 189

Insurance Claim Claim Policyholder Property Insurance 189

Property Insurance Coverage Law

SEPTEMBER 13, 2024

William Rabb of the Insurance Journal wrote an article, Study Stirs Debate on Real Impact of Litigation, Fraud on Property Insurance.

Insurance Industry 192

Insurance Industry Property Insurance Insurance Insurer 192

Insurance Journal

NOVEMBER 21, 2024

Officials with Florida’s Citizens Property Insurance Corp. took issue Thursday with a number of national and Florida news reports that have suggested that the insurer has the “worst rate” on paying claims after recent hurricanes. “That’s just not accurate,” Citizens …

Claim 279

Claim Property Insurance Insurance Insured 279

Property Insurance Coverage Law

NOVEMBER 26, 2024

Welcome to another chapter in the ever-entertaining saga of Florida insurance regulation—where the unexpected is expected, and reality sometimes reads like satire. Florida’s insurance regulators are serving subpoenas on a critic who dared to spotlight glaring issues in the insurance industry. The latest?

Property Insurance 189

Property Insurance Insurance Industry Insurance Insurer 189