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
The string of natural disasters that struck California in 2017 and 2018 resulted in new legislation expanding the rights of California policyholders. The California legislature has drafted and introduced new legislation that would continue to expand policyholders’ rights.… Continue Reading
The Problem: Waiving insurance policy deductibles (“you scratch my back and I’ll scratch yours”) has been common place in Texas since 1989 and came about as the result of a poorly worded statute passed that same year that contractors have basically ignored. Contractors who have broken the 1989 law by waving deductibles (primarily roofing contractors) … Continue Reading
Are California homeowners entitled to collect actual cash value (“ACV”) or replacement cost values (“RCV”) for property claims? It depends on what type of policy you have and whether you suffered a total or partial loss of your property. What’s more, in a few weeks, the California Assembly may vote to change existing law. To … Continue Reading
Reporter Steve Andrews ran a televised story highlighting that some Florida legislators are listening to insurance company lawyers and lobbyists rather than taking care of their constituents in Consumers Would Take Hit If Insurance Lobby Gets Its Way, and Change in Insurance Law Would Take Away Consumers’ Day in Court. The story references Florida House … Continue Reading
Insurance regulation is important. Unlike other commercial products, insurance is a product that serves the public trust. Without regulation, history has proven that insurers cannot control themselves. They go broke just when we need them the most and their claims practices, if unchecked, can be atrocious. States with a strong admitted marketplace should be encouraged. … Continue Reading
Amy Bach is on the side of angels when it comes to fighting for policyholder rights. She is the Executive Director of United Policyholders which is the nation’s largest not for profit advocacy. She and her staff have spent considerable time in Florida educating the public and Florida lawmakers about insurance and sound public policy … Continue Reading
The Insurance Journal published an article last week, Sometimes I Disagree with the Blogs I Love. The article had a lengthy discussion of this blog. I really like how it started: Property Insurance Coverage Law – Chip Merlin and team do a great job helping me to understand what’s going on in property insurance law … Continue Reading
Florida legislators have introduced legislation allowing insurance companies to delay, deny, and underpay Floridians’ insurance claims without accountability. National Flood insurance has no such good faith standards nor accountability and the above news story shows how Floridians can be expected to be treated if the Florida legislature passes anti-consumer laws eliminating protections that have been … Continue Reading
California residents were not spared from disaster in 2018. Instead, devastating wildfires continued, which included the biggest and most devastating wildfires to ever ravage California. The continued disasters were more frequent and begun much earlier during California’s prolonged dry period. The number and size of the wildfires along with insurance carriers’ claim handling have brought … Continue Reading
Insurance company lawyers and lobbyists are a crafty crew. Kelly Kubiak got word from me after I learned late Tuesday afternoon that Florida legislators needed to hear from her early Wednesday morning regarding a proposed law that would let delaying, denying and wrongful acting insurance companies obtain a “get out of free jail card” so … Continue Reading
Merlin Law Group knowledge manager Ruck DeMinico sent me recent North Dakota legislation pertaining to Assignment of Benefit contacts. This topic was also hotly debated two weeks ago at the Windstorm Insurance Conference in Orlando. Insurance restoration contractors, their lobbyists and attorneys are desperately trying to prevent any changes that would make such contracts more … Continue Reading
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 … Continue Reading
A raíz de la catástrofe causada por los huracanes Irma y María, surgió la necesidad de revisar el proceso de reclamaciones ante las aseguradoras en aras de hacer este uno más eficiente. Es por esto que, el gobierno ha trabajado en métodos que ayudarán a mejorar los procedimientos de manejo de reclamaciones ante las aseguradoras. … Continue Reading
After the catastrophe caused by Hurricanes Irma and Maria, there was a need for an efficient recovery process. The government has worked on methods to improve the way insurance claims are handled. Following models from multiple jurisdictions in the United States, Puerto Rico will now have available more protections and resolution methods for property and … Continue Reading
The National Association of Public Insurance Adjusters held its mid-year meeting last week and the topic of assignment of benefits, commonly referred to as AOB’s, was on the agenda. Lisa Miller, an insurance lobbyist and regulator I have come across for over twenty-five years was the speaker on the topic.… Continue Reading
The Florida Department of Financial Services (DFS) has issued an email authorizing Florida licensed public adjusters to hire anybody to make estimates of damage. This email corrects my latest two blogs which indicated that the OIR wanted to prevent those not licensed from working on insurance claims by determining valuations of loss and estimates of damage.… Continue Reading
Florida Attorney General Candidate Sean Shaw and I collaborated and drafted language that made people making the values, numbers, scopes of loss or directly or indirectly, helping determine an insurance claim amount, have an attorney license or a public adjuster license. We wanted to better protect consumers and help stop allegations of or actual insurance … Continue Reading
House Bill 911, effective January 1, 2018, was filed by Representative Sean Shaw and enacted by the Florida Legislature to amend Fla. Stat. § 626.854, which protects policyholders through the regulation of public adjusters. Chip Merlin discussed this new law in detail in his post on July 2, 2017. In requiring public adjusters to be … Continue Reading
In a recent op-ed article published in the Star Ledger, Rutgers Law Professor Jay Feinman debunked the myth that insurance companies have been using for decades to prevent good faith claims handling bills from passing through the legislature. As Feinman noted, insurance companies argue that the Insurance Fair Conduct Act (IFCA) is unnecessary and would … Continue Reading
Last month, California passed legislation that requires residential property insurers to take specific measures to review the estimated cost of rebuilding or repairing structures insured under residential property insurance policies. Assembly Bill 1797 added section 10103.4 to California’s Insurance Code. With certain, limited exceptions, under the new statute, residential property insurers must, at least biennially, … Continue Reading
Recently, the New Jersey Senate passed S-2144, entitled the New Jersey Insurance Fair Conduct Act. While the bill still must go through the Assembly and be signed by the Governor, this is much welcomed news by insureds and their representatives. Since 1993, insureds have had basically no right to bad faith claims against their insurers … Continue Reading
As many Californians continue to repair, rebuild, and regain financial health after the disasters throughout the State, many are looking at insurance reform as a solution for the future. Insurers should provide the funds due to individuals and businesses after a disaster, but as surveys have shown, these funds don’t always flow as they should.1… Continue Reading
American politics and government can make people extraordinarily upset. The very nature of democracy, modern regulation, those being regulated and those regulating promotes active and emotional disagreements of what is the best public policy and how it should be determined. So, my first observation from yesterday’s post, Colorado House Bill 18-1153 Concerning Appraisals for Insurance … Continue Reading
