There have been many cases recently decided in Texas Federal District Court on the issue of fraudulent joinder and remand of cases where in-state insurance adjusters are defendants in first-party property damages cases. I think all will agree that these cases are all over the board.… Continue Reading
Insurers often issue property insurance policies intended cover multiple perils (e.g. water damage and fire). While insurers often include a number of exclusions in their policies, in states with statutory standard form fire policies (such as California), insurers cannot apply exclusions that substantially vary from the terms and conditions in the standard form fire policy … Continue Reading
As we enter a new year, FEMA has issued WYO Bulletin W-16091, “Guidance on the Use of Expert Services.” The purpose of the memorandum is “to ensure transparent and consistent claims handling for all policyholders” and to provide “guidance on the use of services provided by subject-matter experts as part of specific claims investigations.”… Continue Reading
Happy Holidays to property owners with Hurricane Hermine flood claims. FEMA has provided a further 30-day extension for Hurricane Hermine claimants to file flood proofs of loss. The deadline is now 150 days from the date of loss.… Continue Reading
I am taking a quick break from my series on claims handling guidelines to write about an issue that is probably just coming up for many folks in Gatlinburg, Tennessee. The other night I was showing my wife Chip Merlin’s blog about the Gatlinburg fires and then we looked at photos of the devastation there. … Continue Reading
All public adjusters would love to get retained as soon as possible after the date of loss. Unfortunately, often, the public adjuster gets hired months or even a year after the date of loss. In that case, if the first notice of claim filed with the carrier comes from the public adjuster then the carrier … Continue Reading
North Carolina is dead last, scoring a D for the third year in a row. The only A+ was awarded to Vermont. In December, the R Street Institute published their 2016 Insurance Regulation Report Card.… Continue Reading
States differ regarding the time frame required for a first-party property insurance carrier to pay undisputed amounts on a claim. In Florida, for a residential first-party property insurance claim, the carrier is required to pay undisputed amounts within 90 days after receipt of notice of the claim, if these three things have occurred:1 The insurer … Continue Reading
I was recently asked by a collegue how long an insurance carrier has to pay a claim once it has been submitted. Because I maintain a database of regulations for the fifty states at my desk, I could answer the question quickly, but I realized that having a quick reference for these materials might be … Continue Reading
David Hisey is a great guy and has worked for the insurance industry forever. He ran the Winsdstorm Network’s golf tournament for over a decade. The picture above is his burned home from the recent Gatlinburg wildfire. Losing everything and the memories associated with your home is one of the worst emotional times in life. … Continue Reading
Have you ever tried to determine the value of everything you own? It is not an easy task, and as time goes on you accumulate more personal property items, the task gets even more difficult. Valuation is a critical part of an insurance claim, and a recent court ruling considered an insureds unrelated bankruptcy in … Continue Reading
Insurance company adjusters organize their claims files much better than most public adjusters because insurers have invested in computerized claims file management. It may have been that software costs were too expensive for many public adjusting firms, but this is no longer the case.… Continue Reading
Coinsurance issues were a topic at The National Association of Public Insurance Adjusters meeting yesterday. One suggestion by the panel was to consider whether the policyholder would be better off filing a claim on an actual cash value basis rather than a replacement cost basis to reduce the amount or applicability of a coinsurance penalty.… Continue Reading
On November 30, 2016, the Fifth Circuit Court of Appeal affirmed an order by the Northern District of Texas granting summary judgment for State Farm that an insured’s breach of contract claim was time barred under the limitations clause in the policy and by statute, because it accrued as a matter of law when State … Continue Reading
The recent Wells Fargo calamity of opening customer accounts without permission underscores how financial incentives can promote unethical behavior by employees on the front line of servicing customers. I was asked by a reporter involved with stories of the recent Tennessee wildfire whether insurance companies offer incentive pay to their claims managers.… Continue Reading
“Ordinance or law” property insurance coverage is typically triggered when, following a covered loss to a covered building, an insured incurs certain costs due to the enforcement of an ordinance or law1 requiring or regulating the demolition, construction, or repair of buildings.2 What does enforcement mean for purposes of triggering building ordinance or law coverage? … Continue Reading
When making a non-flood claim for Hurricane Matthew related damage to your insurer you must comply with the insurance policy’s post loss conditions. This includes the timely filing of a Sworn Proof of Loss form. Generally, Proof of Loss provisions are worded in one of two ways. The first only requires that the proof be … Continue Reading
On December 1, 2016, the Florida Supreme Court decided Sebo v. American Home Assurance Company, Inc.,1 resolving whether coverage existed under an all-risk policy when there were multiple causes of loss and at least one of the causes was excluded, in favor of the insured.… Continue Reading
Depreciation tables were first introduced to me when studying accounting at the University of Florida. The tables were based on tax schedules and other accounting methods which usually had nothing to do with the actual depreciation of an item. Indeed, if you used tax depreciation tables, some items could be written off immediately despite little … Continue Reading
Overhead and profit was recently mentioned by a colleague, Brandon McWherter, in, When Is Overhead and Profit Due in Tennessee? He noted that the general rule for when contractor overhead and profit is to be paid is when it is: reasonably likely that the insured would be expected to hire a contractor to repair the property. … Continue Reading
The National Association of Public Insurance Adjusters will host their Mid-Year Conference in beautiful Palm Beach, Florida. The conference will begin on Thursday, December 8th and conclude mid-day on Saturday, December 10th. Having the National Association host this conference in South Florida is a wonderful opportunity and public insurance adjusters should join NAPIA and network … Continue Reading
FEMA has approved a 31-day extension for Hurricane Matthew survivors to apply for federal disaster assistance. Survivors now have until January 9, 2017, to register with FEMA. The new deadline also applies to homeowners, renters and businesses submitting applications for low-interest disaster loans from the U.S. Small Business Administration.… Continue Reading
