Catastrophic events (CAT) include hurricanes, floods, landslides, tsunamis, volcanic eruptions, earthquakes, tornados, and wildfires (See Figures 1-4 below). “CAT season” is the phrase experts commonly use to describe the...more
Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of May 13, 2024 – May 17, 2024....more
A recent Texas case shows the importance of providing clear and unambiguous policy language. In Mankoff v. PURE, the insureds negated an otherwise applicable deductible by successfully arguing that the term “windstorm” was...more
In Mankoff v. Privilege Underwriters Reciprocal Exchange (2024 WL 322297 (Tex. App.—Dallas Jan. 29, 2024)), the Court determined that the term “windstorm” was ambiguous as utilized in the subject insurance policy....more
Natural disasters and other crises seem to happen every day. In addition to hurricanes, we now deal with tornadoes, floods, and fires. Join the Adams and Reese Crisis Preparedness team for a webinar on Wednesday, March 24,...more
The EF4 tornado that roared through Mayfield, Kentucky, in the late hours of Dec. 10, 2021, left catastrophic damage in its wake. It almost completely leveled Mayfield Consumer Products LLC’s candle factory. Sadly,...more
On Dec. 26, 2015, 12 confirmed tornadoes struck the North Texas area, killing 13 people.[1] Property damage resulting from the tornadoes is currently estimated at $1.2 billion. According to the National Oceanic and...more