Insurance Policy - Insurance Industry Brief

Deeper Analysis of How to Interpret Insurance Policy Language—Where Insurance Coverage Nerds Go for the Weekend

Property Insurance Coverage Law

JANUARY 4, 2025

This … The post Deeper Analysis of How to Interpret Insurance Policy LanguageWhere Insurance Coverage Nerds Go for the Weekend appeared first on Property Insurance Coverage Law Blog.

Insurance Policy

Insurance Policy Policy Property Insurance 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

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

What Food Trailer Insurance Policies Best Protect Against Risks

Central Insurance

NOVEMBER 22, 2024

Protect your business from fire, liability, and equipment risks with tailored food trailer insurance. The post What Food Trailer Insurance Policies Best Protect Against Risks appeared first on Central Insurance Blog. Stay secure and focus on serving your customers.

Insurance Policy

Insurance Policy Protection Policy Risk

Court Differentiates Vandalism from Theft in First Party Insurance Policy

The Property Insurance Law Observer

MARCH 12, 2024

In its decision, the Court discusses the interpretation of the insurance policy and sets forth that, “Insurance policies are construed as contracts, so policy terms are interpreted according to basic contract principles.” Citing to Allemand v. State Farm Ins. Companies, 160 Wn. 365, 368, 248 P.3d 3d 111 (2011).

Theft

Theft Insurance Policy Policy Personal Property

Insurance Policies Are Adhesion Contracts and Not Bargained For

Property Insurance Coverage Law

DECEMBER 29, 2024

Eyewitness Accounts Tip the Scales in Ice Damming Insurance Dispute.The Bullivant Houser law firm quoted Doug about a case he lost, and his insurer client later re-wrote the insurance policy so it would not pay for a claim under similar … The post Insurance Policies Are Adhesion Contracts and Not Bargained For appeared first on Property Insurance (..)

Insurance Policy

Insurance Policy Policy Property Insurance Insurance

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

Fortune 500’s Insured Losses for CrowdStrike Could Reach $1 Billion: Parametrix

Insurance Journal

JULY 24, 2024

billion, modeling and insurance services firm Parametrix estimates. The portion of the loss covered under cyber insurance policies … The total direct financial loss facing the US Fortune 500 companies, excluding Microsoft, from the CrowdStrike outage on July 19 is $5.4

Financial Loss

Financial Loss Cyber Insurance Policy Insurance

Homeowners Insurance Does Not Cover Cryptocurrency Theft, 4th Circuit Affirms

Insurance Journal

OCTOBER 28, 2024

A federal appeals court has affirmed that a homeowners insurance policy does not cover the theft of cryptocurrency because the loss of a digital currency does not involve a “direct physical loss” as required by the policy. The Fourth Circuit …

Theft

Theft Insurance Policy Policy Insurance

‘Surface Waters’ on Roof Are Not ‘Flood’ Waters, Massachusetts High Court Rules

Insurance Journal

JULY 23, 2024

The highest court in Massachusetts has ruled that rainwater accumulation on roofs of buildings does not constitute “surface waters” within the meaning of “flood” in property insurance policies. The court found that the term “surface waters” in policies is ambiguous …

Property Insurance

Property Insurance Insurance Policy Building Policy

Homeowners Insurance Does Not Cover Cryptocurrency Theft, 4th Circuit Affirms

Insurance Journal

NOVEMBER 17, 2024

By Andrew Simpson A federal appeals court has affirmed that a homeowners insurance policy does not cover the theft of cryptocurrency because the loss of a digital currency does not involve a “direct physical loss” as required by the policy.

Theft

Theft Insurance Policy Policy Insurance

People Moves: Bertoldi Joins Alliant to Lead Litigation Insurance Practice

Insurance Journal

DECEMBER 3, 2024

Jason Bertoldi has joined Alliant Insurance Services, headquartered in Irvine, California, as global team leader, litigation and contingent risk insurance. Bertoldi assists clients in obtaining bespoke contingent risk insurance policies and structuring transactions that incorporate insurance policies as investment collateral.

Insurance Policy

Insurance Policy Insurance Insurer Insured

Where Did the Proof of Loss Requirement in a Property Insurance Policy Originate? What Was Its Original Purpose?

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

Property Insurance Insurance Policy Policy Insurance

Louisiana Citizens Ends Assessment on Property Policies Ahead of Schedule

Insurance Journal

JANUARY 17, 2025

The Louisiana Citizens Property Insurance Corporation (Louisiana Citizens) Board of Directors voted last week to end the 1.36% assessment it makes on all residential and commercial property insurance policies in the state in April of this year. The assessment, which …

Policy

Policy Commercial Property Property Insurance Commercial

Cyber Security and Risk Mitigation

Insurance Journal

AUGUST 18, 2024

Security leaders should be exercising every available option to upgrade their security posture, and cyber insurance policies could make or break the resiliency for many organizations across nearly all industries — K-12 education, retail, healthcare, manufacturing and more. Just last …

Cyber

Cyber Risk Insurance Policy Policy

Kentucky Supreme Court Overturns Escape Clause Meaning, Affirms Roof Collapse

Insurance Journal

DECEMBER 22, 2024

Two Kentucky Supreme Court rulings handed down last week emphasize how important it can be to have clearly worded insurance policies, including exclusions and excess and escape clauses, particularly in high-dollar commercial coverage. In Motorists Mutual Insurance Co. vs. First …

Commercial

Commercial Insurance Policy Policy Insurance

Louisiana Insurers Required to Submit Hurricane Season Data by Aug. 30 Deadline

Insurance Journal

AUGUST 26, 2024

Insurers in Louisiana have until Friday, Aug. 30 to compete a data call relating to property and casualty homeowners’ insurance policies and commercial lines property policies during the 2024 hurricane season. Louisiana Insurance Commissioner Tim Temple issued Directive 224 to …

Commercial

Commercial Insurance Policy Policy Insurance

Standard Homeowners’ Insurance Policies Do Not Cover Flood Damage

Boyle Agency Insurance

NOVEMBER 4, 2024

Exclusion from Homeowners’ Insurance Many homeowners are surprised to find that their standard homeowners’ insurance policies do not cover flood damage. Without a separate flood insurance policy, homeowners may be left with significant repair costs in the aftermath of a flood.

Insurance Policy

Insurance Policy Damage Policy Insurance

North Dakota Commissioner Urges Property Damage Assessment After Flash Floods

Insurance Journal

AUGUST 14, 2024

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 …

Property Damage

Property Damage Damage Insurance Policy Policy

Markets/Coverages: Chaucer Offers Nuclear Power Stations Insurance for Cyberattacks

Insurance Journal

NOVEMBER 6, 2024

Chaucer has launched a new nuclear insurance policy that provides nuclear power plants (NPP) with insurance cover for cyberattacks. Called CyNuC, the malicious act cyber insurance policy was developed specifically by Chaucer’s Lloyd’s Syndicate 1176 in conjunction with the insurer’s …

Cyber

Cyber Insurance Policy Insurance Insurer

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

Mercury to Return to Paradise California as Rebuilding Efforts Gain Momentum

Insurance Journal

JANUARY 7, 2025

Mercury Insurance announced this week that the company will begin writing new homeowners insurance policies in the town of Paradise, California. Mercury says it is the first major insurance company to begin offering policies to Paradise homeowners since the town …

Insurance Policy

Insurance Policy Insurance Companies Policy Insurance

Carolina Woman Charged with Using Mom’s Name to Get Policy, Filing Bogus Claim

Insurance Journal

DECEMBER 2, 2024

A North Carolina woman is set for a court appearance later this month after she was charged with filing a claim on her deceased mom’s house – for damage that occurred before the insurance policy was purchased. Cindy Ramzi Hanna, …

Claim

Claim Policy Damage Insurance Policy

New Jersey Group Eyes Insurance Surcharges, Oil Fees to Fund Resiliency Projects

Insurance Journal

JULY 21, 2024

A 2% surcharge on property insurance policies, mandatory fees on the oil and gas industries, and holding a public referendum are ways a public-private group formed in the aftermath of Superstorm Sandy recommends to pay for projects to protect New …

Property Insurance

Property Insurance Insurance Policy Insurance Insurer

University of California Purchases Sensor-Triggered Earthquake Parametric Policy

Insurance Journal

OCTOBER 2, 2024

What is being called the first sensor-triggered earthquake parametric insurance policy in the U.S. Liberty Mutual Reinsurance, part of Liberty Mutual Insurance Group, and Safehub, a technology provider in seismic sensor and risk … was purchased by The University of California.

Policy

Policy Insurance Policy Risk Insurance

Insurance Broker Caught Pocketing $137K Commissions by Forging Policy Applications

Insurance Journal

OCTOBER 9, 2024

An insurance broker who collected nearly $137,000 in sales commissions by submitting fabricated insurance applications for end-of-life insurance policies in clients’ names without their knowledge, and used those clients’ personal and banking information to pay for those policies, was sentenced …

Insurance Broker

Insurance Broker Broker Policy Life Insurance

Commoditization and Storytelling

Insurance Journal

OCTOBER 20, 2024

Last year, I addressed the issue of insurance policy commoditization in the context of industry advertising in at least four of my monthly columns. Over the years, I’ve blogged about it several times. Recently, I’ve posted about it on my …

Insurance Policy

Insurance Policy Policy Insurance Insurer

Michigan DIFS Urges Residents to Review Policies Amid Winter Risks

Insurance Journal

DECEMBER 11, 2024

The Michigan Department of Insurance and Financial Services (DIFS) is urging residents to review their auto, home, and renters’ insurance policies to ensure they fully understand their coverage and have a plan to pay policy deductibles in the event of …

Policy

Policy Deductible Risk Insurance Policy

Brokers: How to Handle Client Policy Cancellations | Solstice

Solstice Insurance Broker

DECEMBER 2, 2024

Insurance policy cancellations. Dealing with them is hard and many brokers aren't quite sure what to say or how to handle the situation. That's why it's super important to have a solid process in place.

Broker

Broker Policy Insurance Policy Insurance

Sizzle Safely: Insurance Strategies for a Worry-Free Summer BBQ

Insurance Journal

JULY 19, 2024

Independent agents play a critical role in helping clients find the right home insurance policies for them. They are also instrumental in sharing information about general safety considerations for homeowners, which is especially essential during the summer when risks tend …

Home Insurance

Home Insurance Insurance Policy Agents Insurance

Insurance 101: Understanding Insurance Carrier Terminations

Insurance Journal

AUGUST 6, 2024

In the insurance industry, the term “termination” can refer to a few different things. First, there are policy terminations. These occur when an insurance policy runs its course and the … This post is part of a series sponsored by AgentSync.

Insurance Carrier

Insurance Carrier Insurance Insurer Insured

Policyholders and Public Adjusters Often Need to Hire Their Own Experts

Property Insurance Coverage Law

JANUARY 5, 2025

I often hear this question when discussing a loss with a potential client or public adjuster: Chip, isnt it an all-risk insurance policy? This question is often in response to a question I asked them: What caused the loss?

Policyholder

Policyholder Property Insurance Insurance Policy Policy

Purpose Built Flats Insurance and Lift Insurance Policy?

Property Insurance Centre

SEPTEMBER 11, 2024

What does a Lift Inspection Policy cover? What does a Lift Inspection Policy cover in conjunction with a Purpose Built Flats Insurance Policy? Lift Inspection policies will often accompany a Purpose Built Flats Insurance Policy, and for good reason. appeared first on Property Insurance Centre.

Insurance Policy

Insurance Policy Policy Boiler and Machinery Insurance

Policyholders and Public Adjusters Often Need to Hire Their Own Experts—Part Two

Property Insurance Coverage Law

JANUARY 6, 2025

In yesterdays post, Policyholders and Public Adjusters Often Need to Hire Their Own Experts, the court found that the insurance policy did not provide coverage for the claimed damages for two primary reasons.1

Policyholder

Policyholder Damage Property Insurance Insurance Policy

Why Regular Home Insurance Policy Reviews Are Essential

Freeway Insurance

DECEMBER 24, 2024

Once you purchase your first house and set up a homeowners insurance policy , you may think that your insurance needs will be taken care of for as long as you own the house. However, reviewing your home insurance policy on a regular basis is essential if you want to fully protect your property.

Home Insurance

Home Insurance Insurance Policy Policy Insurance

The Majority of Insurance Agents Do Not Read the Policies They Sell—Many Professionals in the Insurance Service Sector Fail to Read the Full Policy

Property Insurance Coverage Law

DECEMBER 30, 2024

Insurance policyholders do not read the insurance policies that are sold to them. The insurance contracts are not even provided to the policyholder until after the product is purchased.

Insurance Agent

Insurance Agent Insurance Agents Policy Policyholder

What is a “Dwelling” “Structure” or Not a “Building Structure” Under Homeowners Policy? Policy Definitions and Reading the Full Policy Are Keys to Finding Coverage

Property Insurance Coverage Law

DECEMBER 11, 2024

Coverage litigation is sometimes a game of interpreting the language of a complicated document, the insurance policy. This post is a reminder to study When Words Collide: Policy Interpretation Doctrines and the 10 Commandments. Understand your Insurance Policy BetterRTFP!

Policy

Policy Building Insurance Policy Property Insurance

Local Regulations and Home Insurance Policies in Plano, TX

Paragon Independent Insurance Agencies

DECEMBER 27, 2024

Understanding how local regulations near Plano, TX can influence your homeowner’s insurance policy is essential to protect and preserve your coverage. At Paragon Independent Insurance Agency, we can help you better understand how local regulations and home insurance policies are impacted together in Plano, TX.

Home Insurance

Home Insurance Insurance Policy Policy Insurance Agency

Tow Truck Insurance: The Six Policies You Need for Your Business

Central Insurance

DECEMBER 23, 2024

Six must-have tow truck insurance policies to protect your fleet, manage risk, and safeguard your business. The post Tow Truck Insurance: The Six Policies You Need for Your Business appeared first on Central Insurance Blog.

Policy

Policy Insurance Policy Insurance Insurer

An Overview of Different Types of Senior Insurance Policies

P&L Financial Services

AUGUST 29, 2024

Myth 1: Senior Benefits Agents Are Just Salespeople One of the biggest misconceptions about senior benefits agents is that their job is solely about selling insurance policies. Let’s debunk these myths and reveal the true nature of this important role. While sales are certainly a part of the job, the role is much more comprehensive.

Insurance Policy

Insurance Policy Policy Agents Insurance

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?

Property Insurance

Property Insurance Damage Insurance Policy Insurance Companies

Florida Appeals Court Nods Enforceability of Forum Selection Clauses in PIP Cases

Insurance Journal

NOVEMBER 26, 2024

Nearly every insurance policy has a forum selection clause and nearly every opposite party wants to avoid them at all costs in hopes of finding a more favorable venue. A new opinion from Florida’s 3rd District Court of Appeal, Open …

Insurance Policy

Insurance Policy Policy Insurance 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 Insurance

Top 6 Insurance Policies Every IT Business in California Should Have

Jackson & Jackson

NOVEMBER 16, 2024

Ensuring your business has the right insurance policies is not just a smart decision—it’s essential for long-term success. Here are the top 6 insurance policies every IT business in California should have to safeguard their operations. Secure your IT business today—because peace of mind is priceless.

Insurance Policy

Insurance Policy Policy General Liability Workers Compensation Insurance

Deeper Analysis of How to Interpret Insurance Policy Language—Where Insurance Coverage Nerds Go for the Weekend

Is the Address Correct on the Property Insurance Policy?

Trending Sources

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

What Food Trailer Insurance Policies Best Protect Against Risks

Court Differentiates Vandalism from Theft in First Party Insurance Policy

Insurance Policies Are Adhesion Contracts and Not Bargained For

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

Fortune 500’s Insured Losses for CrowdStrike Could Reach $1 Billion: Parametrix

Homeowners Insurance Does Not Cover Cryptocurrency Theft, 4th Circuit Affirms

‘Surface Waters’ on Roof Are Not ‘Flood’ Waters, Massachusetts High Court Rules

Homeowners Insurance Does Not Cover Cryptocurrency Theft, 4th Circuit Affirms

People Moves: Bertoldi Joins Alliant to Lead Litigation Insurance Practice

Where Did the Proof of Loss Requirement in a Property Insurance Policy Originate? What Was Its Original Purpose?

Louisiana Citizens Ends Assessment on Property Policies Ahead of Schedule

Cyber Security and Risk Mitigation

Kentucky Supreme Court Overturns Escape Clause Meaning, Affirms Roof Collapse

Louisiana Insurers Required to Submit Hurricane Season Data by Aug. 30 Deadline

Standard Homeowners’ Insurance Policies Do Not Cover Flood Damage

North Dakota Commissioner Urges Property Damage Assessment After Flash Floods

Markets/Coverages: Chaucer Offers Nuclear Power Stations Insurance for Cyberattacks

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

Mercury to Return to Paradise California as Rebuilding Efforts Gain Momentum

Carolina Woman Charged with Using Mom’s Name to Get Policy, Filing Bogus Claim

New Jersey Group Eyes Insurance Surcharges, Oil Fees to Fund Resiliency Projects

University of California Purchases Sensor-Triggered Earthquake Parametric Policy

Insurance Broker Caught Pocketing $137K Commissions by Forging Policy Applications

Commoditization and Storytelling

Michigan DIFS Urges Residents to Review Policies Amid Winter Risks

Brokers: How to Handle Client Policy Cancellations | Solstice

Sizzle Safely: Insurance Strategies for a Worry-Free Summer BBQ

Insurance 101: Understanding Insurance Carrier Terminations

Policyholders and Public Adjusters Often Need to Hire Their Own Experts

Purpose Built Flats Insurance and Lift Insurance Policy?

Policyholders and Public Adjusters Often Need to Hire Their Own Experts—Part Two

Why Regular Home Insurance Policy Reviews Are Essential

The Majority of Insurance Agents Do Not Read the Policies They Sell—Many Professionals in the Insurance Service Sector Fail to Read the Full Policy

What is a “Dwelling” “Structure” or Not a “Building Structure” Under Homeowners Policy? Policy Definitions and Reading the Full Policy Are Keys to Finding Coverage

Local Regulations and Home Insurance Policies in Plano, TX

Tow Truck Insurance: The Six Policies You Need for Your Business

An Overview of Different Types of Senior Insurance Policies

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

Florida Appeals Court Nods Enforceability of Forum Selection Clauses in PIP Cases

Mississippi Commissioner Warns of Francine’s Impact on State

Top 6 Insurance Policies Every IT Business in California Should Have

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