Keith A. Meyer and Kya R. Coletta | Reed Smith On January 7, 2025, wildfires raced across Los Angeles, forcing families to evacuate and leave their belongings and heirlooms behind. Many insureds promptly filed claims under their homeowners’ insurance. Some policyholders have already been paid their policy limits. Others continue to fight over sub-limits and… Continue reading Pause, Pay, or Proceed: Statute of Limitations and Filing Suit After the LA Wildfires
Category: Property Insurance Claims
Understanding Appeal Bond Exposure: Key Considerations for Claims Professionals
Griffin Terry Sumner | Frost Brown Todd It’s a $20 million excess judgment. Your insured needs an appeal bond, but your liability insurance policy only covers $5 million. Are you liable for the full $20 million supersedeas bond amount or just your pro-rata share? In some jurisdictions, you could be on the hook for the… Continue reading Understanding Appeal Bond Exposure: Key Considerations for Claims Professionals
Insurance Claims and the LA Fires
Megan Carrasco and Richard Erickson | Snell & Wilmer Insurance has always been a critical backdrop in risk analysis. This is because when buying insurance, “an insured usually does not seek to realize a commercial advantage but, instead, seeks protection and security from economic catastrophe.”1 Insurance is in place for fundamental risk and loss but is… Continue reading Insurance Claims and the LA Fires
Challenges to Cost Modelling for Marine-Related Property Claims
Ronald Mallory | J.S. Held Introduction Marine facilities have evolved into highly developed, complex, vital infrastructure. What were once collections of docks, pavements, warehouses and guard shacks have become complex cities. Modern ports have rail facilities, multiple utilities (e.g. steam, water, sewer, storm drain, electrical and communication services), fuel distribution, hoisting and conveyance systems, dust… Continue reading Challenges to Cost Modelling for Marine-Related Property Claims
Wildfires and Property Insurance: Navigating a Shifting Landscape
Cameron Zangenehzadeh, Nathan Davis and Seth Row | Ahead of Schedule As wildfires grow more frequent and severe across California, Oregon, and Washington, homeowners and businesses face mounting challenges in securing and maintaining property insurance. The Los Angeles wildfires alone have resulted in tragic losses—28 lives, thousands of homes destroyed, and billions in economic damage.… Continue reading Wildfires and Property Insurance: Navigating a Shifting Landscape