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

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

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

Disputing an insurance claim can be a tricky process. Due to the financial stake insurance carriers have in preserving their cash reserves, adjusters may use misleading language or manipulate your situation to allege that your dispute is illegitimate—even if your claim is valid. Danny & Nicole is experienced property damage lawyer can investigate your case to determine whether your insurance carrier has acted in bad faith and what their legal obligations are to you as you seek a fair settlement for your property losses. In Florida, navigating property damage claims can be complex. That's where Property People Law comes in. Our experienced team is here to guide you through the process, ensuring you get the compensation you deserve. Let Danny & Nicole handle the legalities while you focus on getting your property back to normal. We can help determine whether your insurer has acted in bad faith, explain your legal rights as a Florida property owner, and translate the legal language in your insurance policy so you can better understand your coverage. Contact us today📱844-776-7364 for a complimentary consultation to discuss the specific details of your situation. #InsuranceClaimHelp #PropertyDamageLawyer #InsuranceDispute #BadFaithInsurance #FloridaLawyers #PropertyDamageClaims #LegalRights #InsuranceCoverage #PropertyPeopleLaw #InsuranceAdjuster #FairSettlement #ClaimResolution #LegalGuidance #InsuranceClaimsAdvice #LegalAdvocacy #YourRightsMatter #Homeowners #HomeownersPolicy #InsurancePolicy #Insurance #InsuranceClaim #PropertyDamage #Florida #FloridaLife #Miami #MiamiLawyers #HouseDamage #Property #Attorneys #FreeConsultation

In our latest insurance blog, Greig Anderson, Meena Mariadassou and I consider the insurance implications of the Court of Appeal decision in Johnson v FirstRand, concerning the duties owed by lenders and brokers to their customers relating to commissions.

Some 86% of Americans agree state and federal lawmakers should address the abuses of the U.S. legal system. The insurance industry can no longer rely solely on current strategies and responses to this threat, nor can it continue to absorb and pass along the associated costs to policyholders. Tort reform is slow and arduous and ineffective in addressing today’s trends. Paul Carroll Insurance Thought Leadership Alan Demers, CPCU, AIC Joey Daryanani #socialinflation #legalsystemabuse #litigation #futureofinsurance

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

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?

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