Remove Damage Remove Insurance Policy Remove Property Damage
article thumbnail

New Oklahoma Law Limits Post-Loss Assignment of Benefits on Property Damage

Insurance Journal

Oklahoma lawmakers this legislative session passed a bill limiting post-loss assignment of benefits for property damage under auto, residential or commercial property insurance policies. House Bill 1084 prohibits the solicitation or acceptance of an assignment of any post-loss insurance benefit …

article thumbnail

Lack of Insurable Interest Precludes Recovery for Property Damage

The Property Insurance Law Observer

Consequently, the plaintiff was not entitled to indemnity for damage to the property it purported to insure under a commercial property insurance policy. [1] The restaurant property was owned by another company, which was a separate entity with common ownership by the same individuals who owned the business.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

North Dakota Commissioner Urges Property Damage Assessment After Flash Floods

Insurance Journal

In the wake of flash flooding in the Bismarck-Mandan area, North Dakota Insurance Commissioner Jon Godfread is reminding residents to take immediate steps to assess and document any property damage and to review their insurance policies to understand what is …

article thumbnail

What Appliance Store Insurance Policies Should I Invest In?

Central Insurance

Explore essential appliance store insurance policies to protect your business from liability, theft, property damage, and employee injuries. The post What Appliance Store Insurance Policies Should I Invest In? appeared first on Central Insurance Blog.

article thumbnail

Insurer’s Use of Conflicting Reports Not Bad Faith, Says Court

The Property Insurance Law Observer

Factual Overview This insurance coverage dispute arose from alleged roof damage caused by a hailstorm. The subject insurance policy covered direct physical loss caused by hail. After receiving the claim, the insurer assigned a claim adjuster to investigate the roof.

Damage 130
article thumbnail

Court Says Loose Bolt Remedied by Tightening Does not Constitute “Direct Physical Loss of or Damage” to Property

The Property Insurance Law Observer

American Guarantee and Liability Insurance Company , the United States District Court for the District of Massachusetts held that a loose bolt or fitting that could be remedied simply by tightening it did not constitute “direct physical loss of or damage” to equipment covered under an all-risk property insurance policy. [1]

Damage 130
article thumbnail

What You Need to Know About Filing a Business Insurance Claim

Top Insurance Blogs

Do you know what to do when your business suffers property damage or loss? Are you aware of your business insurance claim and how to make use of it? What steps should you take when you record property or casualty damage in the course of your business activity?