If you own a condo in California, it’s a safe bet you are not covered against damage caused by an earthquake (“EQ”). EQ damage is typically an excluded peril under HO-6 and similar condo policies. EQ coverage is required to be offered, but only about 15% of condo owners choose to pay an additional premium to cover this peril despite reports1 that within the next 30 years, there is (1) over a 99% chance that one or more M6.7 or greater EQs will strike somewhere in California; (2) a 75% chance one or more M7.0 or greater EQs will strike Southern California; and (3) a 76% chance one or more M7.0 or greater EQs will strike Northern California. Continue Reading Make Sure Your California Condominium Is Covered Against Earthquake Damage
A Florida public adjuster called and asked if a Hurricane Ian national flood insurance proof of loss had to be filed within 60 days. That answer is “no,” as explained in Hurricane Ian Flood Proof of Loss Deadline Extended. FEMA extended the deadline for 365 days. Continue Reading Public Adjusters May Have One Year To Submit Hurricane Ian Federal Flood Claims Proofs of Loss But Still Have To Make Written Estimates Within 60 Days
The Florida Bar has taken a very proactive stance regarding wrongful solicitation of Hurricane Ian and Nicole policyholders. The Florida Bar filed an emergency Petition today for suspension of a Florida attorney working for an out of state law firm. The Petition alleges, among other items, deception in the solicitation of Hurricane Ian claimants: Continue Reading Florida Bar Acts Against Wrongful Solicitation—Claimants Should Hire Reputable Attorneys With Credentials
I recently posted, When Will United Property and Casualty Insurance Company Declare Itself Insolvent? Last week, United Property announced its financial condition at an earnings presentation. Continue Reading United Property Insurance is Worth Pennies—How Does It Stay In Business?
The post, Collapse From Storm Surge—Will National Flood Pay These Claims? led to a number of questions on whether these cases can be won. They can be, but it is not easy. These federal flood claims are exacting from a technical fact and legal standpoint. Continue Reading Flood Insurance Claims With Corrosion and Collapse—A Call For Reform
Champlain Towers was a warning for aging condominiums to inspect and immediately repair structural compromises. Hurricane Nicole made another warning last week for structures along beach fronts—will the structures be able to withstand rising sea levels and storm surge? Continue Reading Collapse From Storm Surge—Will National Flood Pay These Claims?
The Louisiana Property and Casualty Insurance Commission is a panel created by statute and made up of members from various backgrounds representing government, consumers, and members of the insurance industry. The panel exists to suggest changes and improve the State’s insurance market. To that end, the Commission reviews and examines issues affecting the availability and affordability of property and casualty insurance and creates a report covering its findings. I was reviewing the most recent report, which covers 2019 and 2020, and I thought it was interesting just how much has changed since the last report was released. Continue Reading Back-to-Back Years of Major Hurricanes Quickly Changed Louisiana’s Property Insurance Marketplace
In June, we noted in Louisiana Appellate Court Finds Coverage For Covid Business Losses, the Louisiana Fourth Circuit Court of Appeal opinion1 reversing a trial court’s judgment against an insured business affected by COVID-19. The case, Cajun Conti LLC, Cajun Cuisine 1 LLC, and Cajun Cuisine LLC d/b/a Oceana Grill v. Certain Underwriters at Lloyd’s, London and Governor John B. Edwards in his official capacity as Governor of the State of Louisiana, and the State of Louisiana, involves a popular New Orleans restaurant, known as Oceana Grill, which requested the trial court declare Business Interruption coverage existed under their policy. This type of request is referred to as a “Petition for Declaratory Relief,” as opposed to a request that a court compels another party to pay for losses that were caused by that party (referred to as a “Petition for Damages”). Continue Reading The Difference in the Outcome of Your COVID-19 Business Interruption Suit May Depend on Which Court You File In
Amy Bach of United Policyholders has a feel for the pulse of property insurance coverage trends that impact policyholders throughout the United States. She has a seat at the table with the National Association of Insurance Commissioners (NAIC) when discussing topics impacting insurance consumers. I was fascinated with the content of her speech at the California Association of Public Insurance Adjusters Annual Conference yesterday. If there is a macro view of the current coverage trend in standard insurance property insurance, it has to be one of shrinkage and fewer benefits for policyholders while insurance rates increase. Continue Reading Property Insurance Policy Coverage Trends Point to Less Coverage at Greater Cost
Laws are made to be followed and enforced. As an attorney, it is unethical to advise people to break the law. I am getting numerous calls and questions which ask me, “How do I get around FEMA’s 50% Rule?” Continue Reading Can You Get Around FEMA’s 50% Rule?