Policy, Policyholder and Property Insurance

Is the Address Correct on the Property Insurance Policy?

Property Insurance Coverage Law

SEPTEMBER 25, 2024

In my basic course about property insurance coverage to public adjusters, and as a standard issue regarding case intake at Merlin Law Group, I first emphasize to always make certain the named insureds and clients have a right to bring the claims. appeared first on Property Insurance Coverage Law Blog.

Property Insurance

Property Insurance Insurance Policy Policy Insurance

Inflation Guard Endorsements: A Possible Double-Edged Sword for Property Insurance Coverage

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

Property Insurance Policyholder Insurance Policy Protection

What Is an “Other Insurance” Clause and Why Do They Exist In Property Insurance Policies?

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

Property Insurance Insurance Policy Policy Policyholder

Insurance Agents Get a Free Pass for Negligence with NFIP Policies: Federal Courts Create an Alice in Wonderland Defense

Property Insurance Coverage Law

OCTOBER 30, 2024

Federal courts are creating an almost impossible barrier for policyholders trying to hold their insurance agents accountable for negligence involving National Flood Insurance Program (NFIP) policies.

Insurance Agent

Insurance Agent Insurance Agents Agents Policy

One Example of How Florida’s Politicians Harmed Florida Policyholders By Passing Insurance Lobby Laws

Property Insurance Coverage Law

OCTOBER 28, 2024

This is Florida law regarding when an insurance company must start investigating an insurance claim: 3)(a) Unless otherwise provided by the policy of insurance or by law, within 7 days after an insurer receives proof-of-loss statements, the insurer shall begin such investigation as is reasonably necessary unless the failure to begin such investigation (..)

Policyholder

Policyholder Property Insurance Insurance Claim Claim

What Are the Duties of An Insurance Agent to the Policyholder—A Michigan Case Example

Property Insurance Coverage Law

SEPTEMBER 4, 2024

The duties of an insurance agent to the policyholder will differ depending on state law. 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.

Policyholder

Policyholder Insurance Agent Insurance Agents Agents

Insurance Policy Assignment Provisions: What They Are and When Insurers Have to Consent

Property Insurance Coverage Law

AUGUST 18, 2024

Many policyholders forget that their insurance policy is a contract and is subject, with exceptions, to the usual laws of contract. An issue that frequently arises is whether the named insured is able to assign insurance proceeds under the policy to another.

Insurance Policy

Insurance Policy Policy Policyholder Insurance

Should Citizens Do More to Assist With Coming Flood Claims in Florida? Can it?

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 …

Claim

Claim Policyholder Property Insurance Insurance Claim

Insurance Company’s Two-Year Claims Handling Waives Proof of Loss Requirement

Property Insurance Coverage Law

NOVEMBER 5, 2024

A recent Indiana Court of Appeals decision where Merlin Law Group’s Ed Eshoo was counsel for the policyholder provides a textbook example of how an insurance company’s conduct can waive strict policy requirements, even when attempting to preserve those rights through reservation letters.

Claim

Claim Policyholder Property Insurance Insurance Companies

Is the Exact Date of Loss Required in Pleadings Rather Than a Claim and Proof That a Loss Occurred During the Policy Period?

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. appeared first on Property Insurance Coverage Law Blog.

Policy

Policy Claim Policyholder Damage

Can policy limitations or exclusions be disregarded as illusory?

Property Insurance Coverage Law

AUGUST 16, 2024

At least until recently, when a California appellate court thrust it front and center and applied it to a … The post Can policy limitations or exclusions be disregarded as illusory? appeared first on Property Insurance Coverage Law Blog.

Policy

Policy Property Insurance Insurance Insurer

Hurricane Helene Flood Insurance Claims and Elevated Building Issues? Refer to the Visual Flood Adjusters Use

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.

Building

Building Insurance Claim Claim Policyholder

Understanding Consumer Education and Property Insurance

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. Leads to confusion and potential gaps in coverage.

Property Insurance

Property Insurance Policyholder Insurance Insurer

Impact of Rising Interest Rates on Property Insurance

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. They can be set by central banks and are influenced by several factors, including inflation, economic growth, and monetary policy decisions.

Property Insurance

Property Insurance Out-Of-Pocket Premium Insurance

Court Differentiates Vandalism from Theft in First Party Insurance Policy

The Property Insurance Law Observer

MARCH 12, 2024

The United States District Court for the Western District of Washington decided an insurance coverage case involving Plaintiffs Benny and Guangying Cheung and Defendant Allstate Vehicle and Property Insurance Company. Plaintiffs argued that the damage was covered under the policy, primarily resulting from theft.

Theft

Theft Insurance Policy Policy Personal Property

Mailing a Letter, in Context With Other Clues, Is Sufficient Cancellation – NC High Court

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 …

Policyholder

Policyholder Insurance Policy Policy Insurance

The Importance of Accurate Valuation in Commercial Property Insurance

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.

Commercial Property

Commercial Property Property Insurance Commercial Out-Of-Pocket

Emerging Property Insurance Trends 2024

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

Property Insurance

Property Insurance Commercial Property Liability Premium

When Life Gives You Lemonade, They Give You No Coverage for Cryptocurrency

Property Insurance Coverage Law

OCTOBER 26, 2024

In a recent Fourth Circuit Court of Appeals decision that leaves me scratching my head, Lemonade Insurance Company successfully argued that cryptocurrency isn’t covered under their homeowner’s policy because it’s not “tangible property.”

Property Insurance

Property Insurance Insurance Companies Policy Insurer

Mississippi Commissioner Warns of Francine’s Impact on State

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, …

Policyholder

Policyholder Insurance Policy Policy Insured

Is Waiving Forfeiture Clauses Possible? Unlocking Possible Overlooked Arguments for Coverage

Property Insurance Coverage Law

AUGUST 21, 2024

Ohio Casualty Insurance Company, 1 is a case decided last week involving vacancy clauses often found in property insurance policies, the impact of forfeiture clauses, and how those clauses can be waived. Unlocking Possible Overlooked Arguments for Coverage appeared first on Property Insurance Coverage Law Blog.

Casualty Insurance

Casualty Insurance Property Insurance Insurance Policy Insurance Companies

Civil Remedy Notices – What Are They and What Do They Require?

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.

Property Insurance

Property Insurance Damage Insurance Policy Insurance Companies

What Is Hazard Insurance for Homeowners and What Does It Cover?

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. … The post What Is Hazard Insurance for Homeowners and What Does It Cover? appeared first on Property Insurance Coverage Law Blog.

Damage

Damage Property Insurance Insurance Insurer

Fifth Circuit Holds That Sales Tax is Not a Component of Actual Cash Value

The Property Insurance Law Observer

JULY 29, 2024

Ending a putative class action, the United States Court of Appeals for the Fifth Circuit examined policy language and two statutes to hold that an insurer does not owe sales tax on top of an actual cash value payment. The policyholder’s contract provided: Limit of liability A. The address shown in this policy.

Policyholder

Policyholder Damage Deductible Liability

Appraising Facts Regarding Business Income Loss Much More Efficiently Than Litigating and Then Appraising Business Interruption Losses

Property Insurance Coverage Law

SEPTEMBER 10, 2024

Resolving disputes through appraisal or arbitration may be, but is certainly not always, less costly and efficient.

Business Interruption

Business Interruption Property Insurance Commercial Policy

Homeowners Insurance: Do You Need It?

Property Insurance Coverage Law

OCTOBER 7, 2024

Homeowners insurance typically covers natural disasters, theft, vandalism, and liability — but specific policies vary in terms of coverage. If you have a mortgage, you definitely need homeowners insurance. But even if … The post Homeowners Insurance: Do You Need It?

Theft

Theft Liability Property Insurance Insurance

Trade Credit Insurance—Applications and Right Complete Answers Are Important While Wrong Answers May Result in No Coverage

Property Insurance Coverage Law

SEPTEMBER 1, 2024

It covers a company’s trade receivables in case a customer fails to pay due to insolvency, bankruptcy, default, or other reasons specified in the policy.

Property Insurance

Property Insurance Risk Insurance Insurer

Louisiana Court Finds That an Insured Breached its Duty to Cooperate

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.

Damage

Damage Personal Property Policyholder Claim

Why can’t I get insurance?

Property Insurance Centre

NOVEMBER 11, 2024

Unfortunately, customers are more often than not caught in the middle, and end up having to fork out more money to pay for policies or settle for lesser cover. Let’s have a look at them… Don’t claim for everything – One thing insurers do not like, is a policyholder that claims over multiple times a year & for the smallest thing.

Insurance

Insurance Insurer Insured Premium

Our Claims Partner, Aspray, Wins Loss Assessor of the Year 2024

Property Insurance Centre

JULY 21, 2024

Aspray’s repeat win is a reflection of their unwavering commitment to delivering top-notch service to their clients, ensuring that they receive the best possible outcome in times of property damage. We find the right policy to suit your needs and understand the risks that a property owner can face in the course of ownership.

Claim

Claim Property Damage Property Insurance Building

The Insurance Act 2015

Property Insurance Centre

MAY 17, 2024

The Insurance Act 2015 IMPORTANT INFORMATION – PLEASE READ Duty of Fair Presentation The Insurance Act 2015 imposes an obligation on all policyholders to “make a fair presentation of the risk” prior to the policy commencing. What is reasonable will depend upon the nature of your business and the policy you are purchasing.

Premium

Premium Insurance Insurer Insured

Court Finds No Coverage for Loss Caused by Water Back Up Through a Storm Drain

The Property Insurance Law Observer

MARCH 4, 2024

26, 2024), the Western District of Washington considered competing motions for partial summary judgment in a property damage case involving a winter storm, where large amounts of rain and melted snow backed the drain up and the force of the water pushed through the exterior door causing damage to the entire basement level.

Damage

Damage Policy Claim Property Damage

Florida Homeowners Premium Growth Slowsas Reforms Take Hold, Inflation Cools

Triple-I: Homeowners Insurance

JUNE 26, 2024

The Florida Legislature responded to the growing crisis by passing several pieces of insurance reform, primarily tackling problems with assignment of benefits (AOB), bad-faith claims, and excessive fees. As insurers have failed or left the state, Citizens Property Insurance Corp. – million by the end of 2023.

Premium

Premium Property Insurance Claim Policyholder

Top Building Insurance Pitfalls To Trigger F.O.M.O.

Property Insurance Centre

SEPTEMBER 25, 2024

See what is not covered in terms of events/damage for your policy and think about getting flood insurance or accidental damage insurance if desired. Accidental damage is not usually covered by a normal building insurance policy. – Failure to read particular policy documents. What is Covered?

Building

Building Damage Insurance Insurer

Freehold Block of Flats Insurance: Top Cover Tips

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.

Insurance

Insurance Insurer Insured Liability

Landlord insurance cover and other FAQs

Cover4LetProperty

OCTOBER 10, 2022

Note that the cover required by your lender is sufficient only to safeguard the outstanding mortgage balance on the property and may not cover the full cost of rebuilding in the event of a major disaster and its total loss. Why do I need specialist let property insurance, rather than any other type of property insurance?

Insurance

Insurance Insurer Insured Property Insurance

Insurance Industry Brief

Is the Address Correct on the Property Insurance Policy?

Inflation Guard Endorsements: A Possible Double-Edged Sword for Property Insurance Coverage

Trending Sources

What Is an “Other Insurance” Clause and Why Do They Exist In Property Insurance Policies?

Insurance Agents Get a Free Pass for Negligence with NFIP Policies: Federal Courts Create an Alice in Wonderland Defense

One Example of How Florida’s Politicians Harmed Florida Policyholders By Passing Insurance Lobby Laws

What Are the Duties of An Insurance Agent to the Policyholder—A Michigan Case Example

Insurance Policy Assignment Provisions: What They Are and When Insurers Have to Consent

Should Citizens Do More to Assist With Coming Flood Claims in Florida? Can it?

Insurance Company’s Two-Year Claims Handling Waives Proof of Loss Requirement

Is the Exact Date of Loss Required in Pleadings Rather Than a Claim and Proof That a Loss Occurred During the Policy Period?

Can policy limitations or exclusions be disregarded as illusory?

Hurricane Helene Flood Insurance Claims and Elevated Building Issues? Refer to the Visual Flood Adjusters Use

Understanding Consumer Education and Property Insurance

Impact of Rising Interest Rates on Property Insurance

Court Differentiates Vandalism from Theft in First Party Insurance Policy

Mailing a Letter, in Context With Other Clues, Is Sufficient Cancellation – NC High Court

The Importance of Accurate Valuation in Commercial Property Insurance

Emerging Property Insurance Trends 2024

When Life Gives You Lemonade, They Give You No Coverage for Cryptocurrency

Mississippi Commissioner Warns of Francine’s Impact on State

Is Waiving Forfeiture Clauses Possible? Unlocking Possible Overlooked Arguments for Coverage

Civil Remedy Notices – What Are They and What Do They Require?

What Is Hazard Insurance for Homeowners and What Does It Cover?

Fifth Circuit Holds That Sales Tax is Not a Component of Actual Cash Value

Appraising Facts Regarding Business Income Loss Much More Efficiently Than Litigating and Then Appraising Business Interruption Losses

Homeowners Insurance: Do You Need It?

Trade Credit Insurance—Applications and Right Complete Answers Are Important While Wrong Answers May Result in No Coverage

Louisiana Court Finds That an Insured Breached its Duty to Cooperate

Why can’t I get insurance?

Our Claims Partner, Aspray, Wins Loss Assessor of the Year 2024

The Insurance Act 2015

Court Finds No Coverage for Loss Caused by Water Back Up Through a Storm Drain

Florida Homeowners Premium Growth Slowsas Reforms Take Hold, Inflation Cools

Top Building Insurance Pitfalls To Trigger F.O.M.O.

Freehold Block of Flats Insurance: Top Cover Tips

Landlord insurance cover and other FAQs

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