R Street Institute’s Post

The reforms seem to be working. The number of filings to initiate litigation was approximately 8,000 per month in early 2023, and the most recent report from Florida shows filings were down to approximately 4,000 per month by November. Jerry Theodorou #insurance #insurancepolicy #publicpolicy

When insurance companies act in bad faith, it can leave policyholders feeling helpless. A property claim lawyer in Fort Lauderdale can protect your rights and hold insurers accountable for unfair practices like delayed payments, denied claims, or underpayments. Don’t let bad faith tactics keep you from the compensation you deserve. Learn more: https://lnkd.in/gHeGqS48 #BadFaithInsurance #PropertyClaims #FortLauderdaleLawyer #InsuranceDisputes #KnowYourRights #AnidjarLevine #LegalSupport

Recent legal reforms in Florida are not only enhancing transparency but also bringing stability to our insurance market. These changes demonstrate that with determination and collective effort, we can drive significant improvements. https://lnkd.in/gfHHAzYf

Covid BI: Final stage for lawsuits that put insurance lawyers into the spotlight Mark Pring was quoted in City AM commenting on the significance of the latest COVID BI cases that are being heard in the Court of Appeal, in particular, the sums at stake in the litigation and the inevitable scrutiny of claims. To read the article in full click the link below: https://lnkd.in/eDgXRt7Q #BusinessInterruptionInsurance #COVID19Pandemic #LegalSector #InsuranceLitigation

COVID/Business Interruption litigation continues: The North Carolina Supreme Court on Friday reversed a state appellate court’s ruling that a number of bars and restaurants could not seek insurance coverage for losses caused by government shutdown orders during the COVID-19 pandemic. The state’s high court said in North State Deli LLC et al. v. The Cincinnati Insurance Co. et al. that because the “all risk” policies did not define the terms “direct,” “physical loss” and “damage,” the words should be defined using their ordinary meaning and that the policyholders could reasonably anticipate coverage. #insurance #underwriting #insuranceindustry #reinsurance https://lnkd.in/eqb--ugP

Prof. Tom Baker weighs in on the North Carolina Supreme Court's decision to hold an insurer liable for COVID-related shutdown losses. While praising the court's thoughtful analysis, Baker notes that differing state insurance laws can lead to varied outcomes. However, the broader legal landscape remains challenging for policyholders, as federal appellate courts have largely sided with insurers. Read more in Reuters: https://lnkd.in/eiJ5whja

Merlin Law Group's blog is one of the few policyholder blogs I follow. One of the reasons is that they don't just post court decisions that support coverage for insureds. Rather, they often blog about insurer-friendly case law. From a loss control (prevention) standpoint, it can often be just as valuable knowing what might NOT be covered vs. what likely IS covered. That way, policyholders can work with their insurance agents to place an insurance program that maximizes coverage by identifying and filling potential coverage holes or at least makes it more likely that there won't be surprises at claim time. https://lnkd.in/gKmryDHw

An excellent piece by Sally Lazar. Insurance contracts are weird. There's a load of insurance jargon, they're regulated, and breaching a warranty is big deal! If you're advising on a deal with transactional insurance support, draft an insurance lawyer to your deal team.

Recent court cases highlight the critical need for clarity in insurance letters. In Selective Way Insurance Company v. MAK Services, the Pennsylvania Superior Court ruled that an insurer's vague reservation of rights letter, which failed to mention a "Snow and Ice Removal" exclusion explicitly, led to the insurer being estopped from denying coverage later on. Read more: https://lnkd.in/gfhAzigY Similarly, the Wisconsin Supreme Court dealt with a case where insurers initially refused to cover defense costs for the Germantown School District. The court mandated retroactive reimbursement, emphasizing the duty to defend while resolving coverage issues. Read more: https://lnkd.in/gyKku92c To prevent these issues, we've developed an AI-powered solution that ensures coverage letters are clear, detailed, and compliant, reducing litigation risks. #Insurance #Insurtech #AI #ClaimsManagement #LegalCompliance

This article is interesting indeed in an era of rapidly changing building values. What is the process of evaluating these laws in light of coinsurance?