Jim Sams | Claims Journal | July 2, 2019 An insurer’s payment of the appraisal value after disputing a claim does not establish that it was liable, nor does that payment prevent a policyholder from pursuing penalties under the Prompt Payment of Claims Act, a split Texas Supreme Court ruled in a pair of decisions… Continue reading Texas Supreme Court Clarifies Bad Faith in Appraisal Process
Category: Insurance Appraisal
Appraisal and the Impartiality of Appraisers
Timothy Burchard | Property Insurance Coverage Law Blog | July 6, 2019 Recently, the Colorado Supreme Court issued its opinion in Owners Ins. Co. v. Dakota Station II Condominium Association,1 on appraiser impartiality. Specifically, the court discussed the meaning and interpretation of impartiality under the insurance policy and whether a contingent-cap fee agreement between the appraiser and Dakota Station rendered… Continue reading Appraisal and the Impartiality of Appraisers
Does Payment of an Appraisal Award Wipe Out Claims Handling Insurance Code Violations?
J. Ryan Fowler | Property Insurance Coverage Law Blog | July 5, 2019 The Texas Supreme Court recently answered the question above in two cases with different results depending on what type of insurance code violations the insured is alleging. The court addressed Texas Insurance Code chapter 542 violations (often called prompt payment of claims)… Continue reading Does Payment of an Appraisal Award Wipe Out Claims Handling Insurance Code Violations?
When Does Pre-Award Interest Begin to Run on an Appraisal Award?
Christina Phillips | Property Insurance Coverage Law Blog | June 25, 2019 I recently had a public adjuster reach out to me asking me how pre-award interest on an appraisal award was calculated. Coincidently, in Creekview of Hugo Association v. Owners Insurance Company,1 the United States District Court for the District of Minnesota recently addressed the application of… Continue reading When Does Pre-Award Interest Begin to Run on an Appraisal Award?
Delayed Insurance Payment? Texas Does Not Allow Insurers To Profit From Nonpayment During Appraisal
Chip Merlin | Property Insurance Coverage Law Blog | June 29, 2019 Rene Sigman of Merlin Law Group’s Houston office was getting some pretty good results for clients this week when she sent me a Texas Supreme Court appraisal case which makes delaying insurers more accountable for inaccurate or plain wrongful estimates of the benefits owed to policyholders. All… Continue reading Delayed Insurance Payment? Texas Does Not Allow Insurers To Profit From Nonpayment During Appraisal