Commercial Insurance Claims

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Happy Labor Day! Labor Day has its roots in the late 19th century when labor activists pushed for a federal holiday to recognize the contributions of workers. The first Labor Day parade occurred in New York City on Tuesday, September 5, 1882. It was organized by the Central Labor Union, and approximately 10,000 workers marched through the city streets, holding banners and advocating for worker’s rights. Wikipedia notes:…

Continue Reading Is Milk Spoiled By A Labor Strike Covered Under Commercial Insurance?

Knowledgeable and creative public adjusters can be worth their weight in gold to policyholders. This is another lesson from the case cited1 in yesterday’s post, Insurance Claims Manager Tries to Teach Public Adjusting Firm a Lesson—Does State Auto Have an Ethical Claims Problem. The remaining contract dispute involved an issue about the period of restoration, which the insurance company field adjusters and the public adjuster agreed upon until State Auto’s claims manager became involved in the case.  …

Continue Reading The Period of Restoration: A Lesson About Saving the Insurer Money Until the Insurer Backs Out of the Deal

It’s crucial for every business owner to be aware that both the national and most state Chambers of Commerce are controlled by the insurance industry. In the event of a dispute between an insurance company and a business, the Chamber of Commerce will side with the insurance company and the overall insurance industry.…

Continue Reading The Chamber of Commerce Is in Bed with the Insurance Industry and Acting Against the Interests of Commercial Policyholders

Economic downturns can cause an increase in vacancies, as I wrote about thirteen years ago in FC&S Warns Agents and Policyholders to Watch the Vacancy Exclusionary Clause. A lot of other reasons cause commercial buildings to become vacant and may adversely impact the amount of available insurance coverage if the building sustains a loss during that vacancy.…

Continue Reading Developers, Commercial Owners, and Property Managers Need to Be Aware of Vacancy Clauses

The Academy of Insurance membership is a deal for those wishing to learn how the insurance product is supposed to work. Members of Merlin Law Group regularly schedule classes to learn how the insurance industry thinks about its operations and products. Professionals in the claims industry should join the Insurance Academy and learn from its course offerings.…

Continue Reading Learning Business Income and Extra Expense Insurance Through the Insurance Academy

The Merlin Law Group is often approached by individuals wishing to make insurance claims on policies where they are not the named insured. These are typically shareholders or members of a corporate insured seeking to make claims for bad faith or emotional damages due to an insurer’s denial of benefits. A recent unpublished case from the United States Court of Appeals for the Ninth Circuit shed light on which parties have the right to make a claim or sue on a commercial insurance policy.…

Continue Reading Who Has a Right to Sue the Insurance Company? A Recent Case Suggests Standing Requires a Policyholder or the Holder of a Valid Assignment

Cash is the blood of any business. The owners of businesses know that without positive cash flow, their businesses could die as sure as a human will die without blood. These owners purchase insurance relying upon prompt and substantial payment of cash benefits following a catastrophe. What happens when the insurance company does not promptly pay?…

Continue Reading Do Insurance Executives Have Empathy For Their Business Customers Following A Loss?

Last month, Anthony Natole, MBA, CPA/CFF, CGMA from Risk Accountants, LLC, gave a presentation on “Hurricane Ian: All About Business Interruption” at the Valuation, Forensic Accounting & Litigation Services Conference presented by the Florida Institute of Certified Public Accountants.1 I had the privilege of being on the accompanying panel for this presentation along with Margaret Krichevets, CEO, MBA, PA of Best Public Adjusters. While listening to the presentation and the questions that followed, I began to think about how important it is to have a general understanding of business interruption coverage and when it comes into play.…

Continue Reading A General Overview of Business Interruption Coverage