What is the biggest mistake I see adjusters make on their resumes? They think like THEMSELVES! The next big blunder? They don’t think like a Hiring Manager would for the role of interest. What do I mean by this? LOTS of people are secretive, insecure or just plain old paranoid! And there’s nothing wrong with […]
The owner of a restaurant in Liberty State Park that was temporarily closed for several weeks by order of New Jersey officials after Superstorm Sandy has had its claim for payment under the “civil authority” provision in its insurance policy rejected by an appellate court in New Jersey.
In its recently published ‘Assignment of Benefits Report for Florida,’ the III estimates that Florida’s auto and homeowners’ policyholders have paid about $2.5 billion more for insurance over the past dozen years to cover the increase in legal costs triggered by AOB lawsuits.
As an independent claims adjuster, it is rare that any of the inspections I am contracted to complete are conducted with the anticipation of future litigation. In the normal course of doing business, an insured party files a claim for damages with their insurance company. That company outsources the inspection process to a local licensed […]
To the extent that an insurance producer represents the interests of the policyholder/buyer by whom he is retained, then that relationship is a fiduciary one based on the buyer’s financial trust placed in the broker who is in a position of superior knowledge and expertise. Under those circumstances, that producer’s duties run exclusively to the buyer, and give rise to potential violations actionable in tort as a matter of professional liability, not contract.
In March of last year, a state appellate court overruled the trial court’s decision2 and found that Keodalah could file an individual bad faith claim against the adjuster, saying that the relevant state law makes no distinction between corporations and individuals. The case is now before the Washington Supreme Court.
the Supreme Court specifically took issue with the appellate court’s statement that, “even if GEICO’s actions were negligent, negligence alone is insufficient to prove bad faith.” Although it acknowledged that “negligence is not the standard,” the Supreme Court stated that “because the duty of good faith involves diligence and care in the investigation and evaluation of the claim against the insured, negligence is relevant to the question of good faith.”
The lawsuit was filed after Ace did not respond to the county’s notice within the 20 days required under Washington’s Insurance Fair Conduct Act, according to the complaint.
King County is seeking reimbursement of the cost of the repairs, Consumer Protection Act damages and attorneys’ fees. The county is also seeking an award of treble damages, which would triple the amount Ace pays if a judge agrees.
Trinidad Navarro, Insurance Commissioner of the State of Delaware gave final regulatory approval today to the Form A Application (the “Application”) of China Oceanwide Holdings Group Co. Ltd and certain of its affiliates (“China Oceanwide”) to acquire Genworth Life Insurance Company (“GLIC”) and certain of its affiliates. The Application was first filed by China Oceanwide over two years ago.