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Insurance
Massachusetts Appeals Court gives sensible interpretation of contractual interest statute
Certain Underwrites of Lloyd’s London issued a builder’s risk policy to Historic Round Hill Summit covering two buildings, Rogers Hall and Hubbard Hall, that Historic had purchased to renovate. PeoplesBank, which held an mortgage on the property, was an additional insured under a mortgage holder endorsement. A fire destroyed Rogers Hall and caused extensive damage to Hubbard Hall. Lloyd’s asserted that…
Post-Natural Disaster Triage :: Proactive Tips for Managing the Insurance Issues
With catastrophic weather events on the rise, we field a lot of calls in the aftermath of a natural disaster. For smaller businesses and individuals, it can be challenging to manage the cost of engaging coverage counsel to assist with the insurance claim when limited resources may already be stretched thin due to storm-related damages that are not insured. Other…
Active vs Passive Life Insurance Policy Management
Active versus passive management of financial products is an often-debated topic in the investment world. However, it is rarely discussed when it comes to life insurance, despite the fact that policies are intended to be held throughout an insured’s entire lifetime. To ensure an existing life insurance policy or portfolio meets a client’s original long-term objectives, policyholders must annually review…
When the Application is the Risk (of Rescission): Don’t Let Your Insurance Application Shred Your Policy
Surprised insurers are unhappy insurers. And unhappy insurers are more likely to resist paying claims. As are insurers who fail to heed their good faith and other obligations to their policyholders.
So if you seek coverage for a loss arising from circumstances that your insurer complains—rightly or wrongly—it didn’t anticipate, expect your insurer to scour your policy application looking for…
Enterprise Liability Insurer Has Duty to Defend Against a Vendor’s Claim, Even When Presented as an Invoice for “Usage Fees”
In a win for policyholders, a federal court in Washington recently held that an insurer had a duty to defend a technology company against a vendor’s demand for damages it allegedly suffered when hackers accessed software solutions the vendor licensed from Microsoft.
The case, Advaiya Solutions, Inc. v. Hartford Fire Insurance Company, concerned an enterprise liability policy whose coverage focused…
Advice for people who are facing property losses in the Los Angeles fires: Hire a public adjuster
I recently saw on a
Facebook group I belong to advice for victims of the California fires and how
they can maximize their insurance claims. The advice was dreadful. It included,
“Make from memory the most detailed list you can of every item in your house
that was destroyed, and its value.”
This is terrible
advice.
One of my
specialties…
United States District Court for District of Massachusetts holds that insurer breached ch. 93A by denying fire coverage for new homeowner because she had not yet moved into her house
Fire at house homeowner had just purchased and not yet moved intoAwilda Pimental closed on a new home on June 28, 2022. She purchased a homeowner’s policy from AmGuard Insurance Company that went into effect on the closing date, that included coverage for fire losses.On July 22, 2022, before Pimental moved into her house, a fire significantly damaged it. …
60 Minutes report on fraud by Florida homeowners insurers following Hurricane Ian two years ago
The Initial Impact of Moody? More Confusion.
Until recently, Oregon courts did not allow policyholders to bring claims against their insurers under Oregon’s Unfair Claims Settlement Practices Act and only allowed tort-based “bad faith” claims in narrow circumstances. This left Oregon policyholders seeking recovery from their insurers with only contract-based claims and remedies. But the Oregon Supreme Court’s decision in Moody v. Oregon Community Credit Union, 371…