Category: Insurance Problems

Depreciation is a major topic with property insurance. It seems like such a “nickel and dime” way to increase profits. So, why are property insurance companies now doing this and having their hired gun attorneys argue that this is the correct way to adjust claims? Some skeptics, me included, have suggested since insurance companies are… Continue Reading

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Property which simply wears out or is damaged by rot is never covered, right? That is what most insurance company adjusters and attorneys will say. Indeed, they will defiantly state something like: “This is a property insurance policy and not a maintenance contract.” So, what happens if the damaged portion of the property cannot be… Continue Reading

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Insurance agents play a very important part of making the insurance product work for everybody. Most people and business owners rarely think of all the risks they face. Insurance customers certainly do not study insurance policy forms and coverages which will soften the financial blow should one of those risks of loss become a reality…. Continue Reading

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This morning’s post, Coronavirus Causing You Business Losses? Your Insurance could Provide Relief, is extremely important given the severity of the expected virus on business. Australian insurance professor Alan Manning recently wrote an excellent article on the topic. I have read numerous other articles and analysis of the issue. So, let’s start with the basics…. Continue Reading

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The coronavirus is wreaking havoc on supply chains, interrupting business and eliminating profits. Can insurance help? Maybe. Insurance products to help businesses deal with income losses are commonplace. But typically, that insurance is only triggered when there is physical damage to insured property. The coronavirus doesn’t damage property, right? Maybe it does. What happens when… Continue Reading

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A recent case1 had the following fact pattern of facts and findings: 1. Public adjuster Erick Arias of Universal Loss Consultants, Inc., was hired as a loss consultant for the Plaintiffs with respect to the subject insurance claim. 2. Erick Arias produced an estimate for the Plaintiffs prior to the invocation of appraisal. 3. There… Continue Reading

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My post earlier this week, Are Insurance Agents McDonald’s Order Takers or Professional Advisors? The Massachusetts View, created some buzz. So, I have decided to follow up with insurance agent law in South Carolina where they are having their presidential primary vote today. If a Northern state like Massachusetts follows the “order taker” view, do… Continue Reading

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Insurance claims adjusting is not easy business. Quality adjustment which vets claims quickly and gets the money to policyholders fairly, promptly and fully is challenging work. I have repeatedly indicated this in numerous blogs. The following quote found in Insurance Company Claims People Are Important, is similar to many comments in other blog posts: Insurance… Continue Reading

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California has an insurer of last resort for fire coverage, the FAIR Plan, which I explained in detail in a previous post, What Is The California FAIR Plan? In late 2019 in the wake of hundreds of thousands of non-renewals, California Insurance Commissioner Ricardo Lara ordered the FAIR Plan to start selling more comprehensive policies… Continue Reading

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One of the first topics anybody should consider before claiming an insurance agent is negligent is the specific state law on the topic. Since virtually all states require people that sell any type of insurance to be licensed, many find it surprising that some states only impose a duty of care as an “order taker”… Continue Reading

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