News & Analysis as of

Property Damage Property Insurance

In California, Proposed Legislation To Increase Insureds’ Recoveries From Their Insurance Policies

by Carlton Fields on

After devastating wildfires, California legislators proposed greater wildfire insurance protection, drafting a set of bills. The most important proposed changes are as follows...more

AOB Reform Bill Passes Florida House, Senate Future Uncertain

On January 12, 2018, the Florida House of Representatives passed a bill (HB 7015) that would dramatically affect the way contractors and their lawyers use assignments of benefits (“AOBs”) in first-party property insurance...more

2017 – A Record Setting Year

by Zelle LLP on

2017 was a year of records for sure. Most notably, professional eater Joey Chestnut set a new record by eating 55 glazed doughnuts in eight minutes. At a university in Ohio, 972 people set a record by dressing as penguins. ...more

Flood or Fire: The Montecito Claims

by Selman Breitman LLP on

What is the Efficient Proximate Cause of the Devastating Mudslides in Southern California? At first glance, the destruction in Montecito, California and other areas of Santa Barbara and Ventura Counties on Monday, January...more

Still Crazy After All These Years: Recent Developments on the Standard Mortgage Clause

by Cozen O'Connor on

A not uncommon scenario: after examining the charred debris of a property fire, investigators note that the building’s alarm failed to sound and automatic sprinkler system similarly failed to activate because neither had been...more

You Dropped a Bomb (Cyclone) on Me

by Zelle LLP on

Move over Snowmageddon and make way for the “bomb cyclone” which hit the East Coast January 4, 2018. While the official name of this winter storm is “Grayson”, the media focused on the phenomenon (bombogenesis) that...more

Latest Earthquake Assignment Decision

by DLA Piper on

Statements made by contracting parties may give rise to enforceable rights. Where there is no contractual relationship, a party that has suffered detriment in reliance on statements made by another may still have remedies in...more

Insurers Brace for a Texas-sized Assessment for FAIR Plan Members

by Locke Lord LLP on

At its recent December 11th meeting in Corpus Christi, Texas, the Governing Committee of the Texas FAIR Plan Association (TFPA) is reported to have approved an assessment for its insurance company members of over $64 million...more

Florida Court Rejects Property Insurer’s Effort To Limit Assignment Of Benefits

by Carlton Fields on

An assignment of benefits (AOB) is a legal tool that allows a third party to be paid for services performed for an insured property owner who would normally be reimbursed by the insurance company directly after making a...more

Firing On All Cylinders

by Locke Lord LLP on

The wildfires raging in Northern California are already the worst in the state’s history. The risk of cataclysmic fires is greater in Southern California, but the elements (fierce winds, high temperatures, and low humidity)...more

Replace, Cancel or Get Burned: Sandy’s Electrical Wiring Lesson for 2017 Hurricane Claims

by Wilson Elser on

Those who have homes or spend time at the “Jersey shore” cannot help but be reminded of Superstorm Sandy during this brutal 2017 hurricane season. Sandy crashed into New Jersey on October 29, 2012, about seven miles north of...more

Don't Miss the Diamonds in the (Aggregate) Rough

Time and time again, property carriers insist on closing high quality subrogation recovery files because they see that their insured has yet to hit the policy aggregate deductible. Policy aggregate deductibles are becoming...more

Congress Moving on Re-authorization and Reform of National Flood Insurance Program

Just in time for Thanksgiving, the U.S. House of Representatives voted last Tuesday to approve House Resolution 2874 entitled the “21st Century Flood Reform Act.” The Act must still pass the Senate and be signed by the...more

National Flood Insurance Program Is Relieved Of $16 Billion Debt

by Carlton Fields on

On October 26, 2017, President Donald Trump signed H.R. 2266, a disaster relief bill. Pursuant to section 308 of the bill, the Department of the Treasury will forgive $16 billion in debt owed by FEMA under the National Flood...more

Calculating Gain from Reimbursement for Loss of Personal Use Property

by Moskowitz LLP on

The proceeds from my insurance coverage were more than the adjusted basis of the property I lost but less than the fair market value. Does that mean I can't take a tax deduction?...more

National Flood Insurance Program Reauthorized Through December 8, 2017

by Carlton Fields on

On September 8, 2017, Congress passed legislation extending the National Flood Insurance Program until December 8, 2017. The program was set to expire at the end of September. ...more

Massachusetts Reference Award and Alleged Chapter 93A Violation Addressed By Federal District Court Opinion

The Massachusetts reference process is a creature of statute designed to provide an expeditious method to resolve disputes over the amount of loss covered by a property insurance policy. While a reference panel cannot decide...more

Business interruption post-Harvey and Irma

by Hellmuth & Johnson PLLC on

This blog post is the second in a three part series. Business owners affected by hurricanes Harvey and Irma spent the first few days and weeks cleaning up, making repairs and completing countless other activities to get...more

Trigger for Hurricane and Named Storm Deductibles

Recent damage from Hurricanes Harvey, Irma, and Maria have focused attention on special “named storm” and “hurricane” deductible endorsements found in most property insurance policies issued for coastal areas. Such...more

Federal Judge finds post loss assignment of benefits proper under Pennsylvania law

In a recent opinion, Judge Schmehl of the Eastern District of Pennsylvania denied a forced placed insurer’s Motion to Dismiss a suit brought by the assignee of a homeowner for water damage to the home. In Williams v....more

Washed Away: What Rights Do You Have When Your Home is Flooded?

by Gray Reed & McGraw on

Bill Deron bought a 100-acre tract next to a creek outside the City of Houston. Deron planned to build a subdivision where some of the homes abut a creek. The other homes would sit about 15 feet higher than the creekside...more

After the Waters Recede: The Mortgage Servicer’s Role in Navigating Insurance Claims, Part III

In the first part of the series “The Mortgage Servicer’s Role in Navigating Insurance Claims,” we covered assessing property damage and applying insurance proceeds in compliance with the terms of the standard mortgage...more

Alabama and Mississippi Insurance Law Questions Following Hurricane Nate

Hurricane Nate made landfall on the Mississippi Gulf Coast near the city of Biloxi on Sunday, October 8, 2017, as a Category 1 Hurricane. The eastern quadrant of the storm’s center also passed over significant portions of...more

With most businesses back after Harvey & Irma, what to know about what comes next: legal restoration

by Hellmuth & Johnson PLLC on

This blog post is the first in a three part series. The next posts will cover Business Interruption Coverage and Reinsurance. Business owners affected by hurricanes Harvey and Irma spent the first few days and weeks...more

Texas Department of Insurance Warns Against Improper Underwriting After Hurricane Harvey

by Locke Lord LLP on

The Texas Department of Insurance (TDI) has cautioned insurers against improper underwriting activities in the wake of Hurricane Harvey. Specifically, TDI issued Commissioner’s Bulletin # B-0032017 on September 21, 2017,...more

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