Assignment of benefits contracts for property damage claims may be going the way of the dinosaur in Florida. A recent Florida Insurance Bulletin notes that the new statute allows insurance companies to issue policies preventing an assignment of benefits if insurers offer a premium discount.
Continue Reading Contractors Beware Taking AOB Contracts For Restoration Work: New Policy Forms Restricting AOB Contacts Discussed By Recent Insurance Bulletin
One of the strongest tools in an insured’s arsenal is a good public adjuster. If lucky, most insureds will only suffer a property loss once or twice in a lifetime. Not dealing with claims handling on a day to day basis, navigating the claims process can be not only confusing and tedious, but costly as well if the insured does not know when they are being treated unfairly.
Continue Reading Maine’s “36-Hour Rule” Deemed Unconstitutional
The Colorado Department of Insurance has proposed eliminating one of its long-standing bulletins requiring insurance companies to pay contractor overhead and profit rather than deduct the amount until incurred. Such an elimination is obviously against policyholder interests and is the result of insurance industry lobbyists making inroads with Colorado insurance regulators who are supposed to be guardians of the public interest.
Continue Reading Colorado Overhead and Profit Issues—Merlin Law Group Files a Response for Colorado Policyholders
An overwhelming number of claims are settled on a mutual understanding with respect to the covered loss and the amount necessary to indemnify the policyholder. The question is then: What can a policyholder do if the insurance company is taking an unreasonable amount of time to tender settlement payment. Florida law remains focused on strong public policy encouraging settlement of claims. To accomplish that goal Florida legislature has implemented statutes to protect the policyholders even when an amicable resolution has been reached between the policyholder and the insurance company.
Continue Reading In Florida, There Are Penalties For An Insurance Company That Does Not Timely Issue Payment After A Settlement
A federal lawsuit has been filed challenging the free speech rights of solicitation by contractors and public adjusters.1 We have discussed this topic before in Public Adjusters Win Free Speech Rights and Ability to Promptly Help Policyholders, and History Repeats Itself When Public Adjusters Win Free Speech Rights.
Continue Reading Time Limits on Public Adjuster and Contractor Solicitation Challenged as Unconstitutional Restraint on Free Speech
The California Supreme Court issued a unanimous ruling yesterday requiring insurers to communicate “complete” replacement cost estimates to insureds.1 The ruling not only found the regulation requiring this action to be well within the Insurance commissioner’s authority, but found the basis for the regulation to be well founded. It is a wonderful victory for policyholders in California.
Continue Reading Insurers Must Provide Complete Replacement Cost Estimates
Rarely do insurance commissioner bulletins warn insurance companies of paying too much or that consumers are not entitled to insurance benefits. Most departments of insurance only write bulletins because insurance company adjusters pay far too less to similarly situated consumers suffering from the same loss. Of course, insurance company lobbyists now go into overdrive to argue against the bulletin and to influence those in power to change the bulletin to favor payment of less money. Insurance companies essentially use policyholder premiums to pay the expense of their lobbyists to reduce payments to those paying for the insurance benefits. How ironic.
Continue Reading Insurance Bulletins Can Help Consumers Looking for Full Recovery
Unauthorized Practice of Public Adjusting (UPPA) has become the predominant discussion among public adjusters at virtually every public adjuster association meeting I attend. Brian Goodman, general counsel for the National Association of Public Insurance Adjusters (NAPIA), said that UPPA is now the most important issue facing public adjusters because licensing of the profession is accepted in almost every state and even recognized in Model Legislation with the National Association of Insurance Commissioners.
Continue Reading Unauthorized Practice of Public Adjusting Trends
On May 11, 2015, Oklahoma Governor Mary Fallin signed into law SB 439, which modifies and changes current laws relating to public insurance adjusters.
The bill, first introduced by the Oklahoma Senate on February 2, 2015, “aims to protect Oklahoma storm victims, and ensure transparency and accountability in the insurance adjusting process.”1
Continue Reading State Law Sets New Requirements for Public Adjusters
As a follow up to my blog of November 5, 2014, Fair and Impartial Appraisers in Colorado, I wanted to write on DORA Regulation 5-1-14 which deals with penalties against insurance companies for failing to promptly address first party property claims in Colorado.
Continue Reading DORA Penalties Against Insurance Companies and Guidance on ‘Reasonable Dispute’