Underinsurance gaps are not good for policyholders or insurers. Colorado Insurance Commissioner Michael Conway said a lot during his brief appearance at the Rocky Mountain Association of Public Insurance Adjusters meeting on Thursday. In Colorado Insurance Commissioner Michael Conway Continues Efforts to Help and Assist Policyholders Impacted by the Marshall Fire, we applauded Conway for taking a very transparent and informative role about the insurance issues in Colorado. While stating that there are no easy answers to solve the underinsurance issue, he showed a deep understanding of the issue and promised to do something about it. Continue Reading Colorado Insurance Commissioner Talks About the Underinsurance Problems in Colorado
Amy Currotto was concerned about adding “climate change” as an important trend to a panel discussion at the Florida Association of Public Insurance Adjusters fall meeting. She thought some in the audience would have emotional and significant responses to her raising the issue. I have been to four other public adjuster conferences this fall, and “climate change” has come up at each of them. For example, at the RAMPIA meeting in Denver, the Colorado Insurance Commissioner indicated that the frequency and severity of wildfires have increased because of climate change, causing new initiatives to help keep insurance available and affordable. Continue Reading Climate Change and New Technology Tracking Risk Is Significantly Impacting the Property Insurance Industry
The Rocky Mountain Public Insurance Adjuster Association (RMAPIA) will hold its Fall Meeting starting on Wednesday, November 3, in Denver. Yours truly will have two special Merlin Law Group attorneys, Larry Bache and Jon Bukowski, explaining what we see as the top property insurance claims trends throughout the Rocky Mountain states and the coverage gaps issue causing more problems for policyholders. Continue Reading Rocky Mountain Public Insurance Adjusters Meet on November 3 & 4 in Denver
A lawsuit by Olympus Insurance Company challenges Florida’s Office of Insurance Regulation about issues of paying for property that matches following a repair. The lawsuit also challenges whether the Florida matching statute is a minimum limit of indemnity and if insurers can contract out of matching. Continue Reading Is Florida’s Matching Statute a Minimum Limit of Required Indemnity or Can Insurers Contract Out of Matching?
This year, United Policyholders celebrates a tremendous milestone – 30 years of successfully providing information to and advocating on behalf of policyholders nationwide.
In their own words:
United Policyholders (UP) is a non-profit 501(c)(3) organization whose mission is to be a trustworthy and useful information resource and an effective voice for consumers of all types of insurance in all 50 states.
Matching can be one of the more difficult and contested issues in the property insurance world. Some jurisdictions address the issue by statutes and regulations requiring the replacement of undamaged items when the damaged items cannot be replaced in a way that achieves a reasonably uniform appearance. Other jurisdictions address the issue through case law. Continue Reading Connecticut’s Matching Statute
Insurance has been woven into the tapestry of human society dating back to ancient times. At its core, an insurance policy is a contract of indemnity between an insurance company and an insured. The policy is subject to the same rules that govern other contracts unless those rules are specifically modified by statute.1 Continue Reading Interpreting Insurance Contracts in Florida
There was once a very nerdy and in-the-library-stacks 22-year-old law student who wrote about the reasonable expectations doctrine. Yesterday on my Tuesday at 2 With Chip livestream, I provided our attendees with an explanation about why insurance contract interpretation is so important to the insurance claim community. I also noted a paper I wrote nearly 39 years ago—long before all the experiences I have had with judges and academics about how insurance contracts should be interpreted. Continue Reading Is a 22-Year-Old Punk Law Student’s Doctoral Thesis About The Reasonable Expectations Doctrine of Insurance Contract Interpretation Stupid or Standing the Test of Time?
Confucius once said, “life is simple, but we insist on making it complicated.” The same goes for insurance policies.
Insurance policies are hard to read, and it should not be hard for customers to understand what they purchase. Continue Reading Insurance Policies Should Be Easy To Read
Happy New Year! Peace and Good Will to all! But, if you really want to have peace of mind, you should make a New Year’s resolution to review your insurance policies for the most common potential insurance coverage gaps and make an appointment with an insurance specialist—not just an insurance agent, but possibly a risk manager. Continue Reading Happy New Year!! A Great Time to Review Your Insurance Policies For a Worry-Free Year