It is important that a policyholder review and understand the various conditions and duties required of them in the event of a loss. One of the most important conditions contained in many insurance policies is the limitation placed on a policyholder’s right to sue an insurance carrier when there is a disagreement on the amount of damage or loss caused by the event.
Continue Reading Understanding Your Colorado Insurance Policy – Legal Action Against Us Clause

Every insurance policy outlines certain duties a policyholder is required to perform following a loss. However, the prompt notice provision appears to be increasingly gaining traction by opportunistic insurance companies and their defense attorneys who seek to use this as a technicality to avoid liability for an otherwise covered loss.
Continue Reading New Mexico Requires Insurance Company to Demonstrate Substantial Prejudice Before Denying a Claim for Late Notice

Southwestern South Dakota has experienced a series of severe hail storms over the past several months with multiple reports of hail well in excess of 2-inches in diameter. These storms have prompted various questions concerning South Dakota, including time limit considerations that should be considered by policyholders that have been impacted by these hail storms.
Continue Reading South Dakota Hail Claims and Insurance Disputes—Do Not Let Hail Damage Dollars Go Unpaid, and the South Dakota Statute of Limitations

Nearly two years ago, Albuquerque was struck by one of the largest hailstorms in its recent history. With the two-year anniversary of the July 2018 hailstorm quickly approaching, policyholders in New Mexico should be mindful to review their insurance policies for time limit considerations that could prevent them from pursuing delayed or denied insurance benefits for damages from the hailstorm.
Continue Reading New Mexico Allows an Insurance Policy to Reduce the Statutory Period to File a Lawsuit

Larry Bache and I are currently handling a devastating fire loss to a powder coating and plating facility located in Watertown, South Dakota. Our clients purchased a replacement cost value policy of insurance – the purpose being to allow them to rebuild after a loss. Unlike actual cash value coverage, which has the intent of placing an insured back in the position it enjoyed prior to a loss, but never allowing it to benefit because a loss occurred, replacement cost coverage is not a pure indemnity agreement. It reimburses an insured for the full cost of repairs, even if that results in placing the insured in a better position than it was before the loss.1
Continue Reading Determining Actual Cash Value in South Dakota

The National Association of Insurance Commissioners (NAIC) drafted a model law named the “Unfair Claims Settlement Practices Act.” These standards include fair and rapid settlement of claims as well as the procedures and practices constituting unfair claim adjustment practices. Section 9 of the Model Act outlines language pertaining to the replacement of undamaged items when the damaged items cannot be replaced in a way that achieves a reasonably uninform appearance.
Continue Reading Matching Considerations in Utah

Tasked with safeguarding those affected by the business of insurance through the fulfillment of statutory obligations and promoting the fair and just treatment of all parties to insurance transactions, Bruce R. Ramage was appointed as Nebraska’s Director of Insurance by Governor Dave Heineman in November 2010.
Continue Reading How to File a Complaint with the Nebraska Department of Insurance about your Delaying, Denying and Bad Treating Insurance Company

Colorado Insurance Commissioner Michael Conway

Appointed by Governor John Hickenlooper, Michael Conway serves as Colorado’s Insurance Commissioner where he is tasked with regulating and monitoring insurance companies and insurance agents in Colorado. With the mission of Consumer Protection, Michael Conway and the Colorado Division of Insurance have streamlined a simple process for insurance consumers to file complaints against insurance companies that are mistreating, slow paying, or not paying their insurance claims.
Continue Reading How to File a Complaint with the Colorado Insurance Commissioner Office about your Delaying, Denying and Bad Treating Insurance Company

Colorado policyholders should be mindful to review their insurance policies for time limit considerations that may bar them from pursuing insurance benefits beyond two years after the May 8, 2017, hailstorm. While Colorado requires that any action against an insurance company for failure to pay covered benefits must be brought within three years of the date of loss, Colorado allows insurance companies to contractually reduce this time period to as little as six months in commercial and business owner policies of insurance. Failing to bring an action within this prescribed period can ultimately lead to the inability to seek legal recourse where an insurance company is failing to pay covered benefits.
Continue Reading Two Year Anniversary Approaching for Colorado’s May 8, 2017 Hailstorm