Denisse Ibarra and Nathaniel Tobin | Chartwell Law Florida Senate Bill 2A revised Fla. Stat §627.7152 to state that “a policyholder may not assign…any post-loss insurance benefit under any residential property insurance policy…issued on or after January 1, 2023.” Fla. Stat. §627.7152(13). Insurance companies, however, still face lawsuits filed by Assignment of Benefits (“AOB”) companies… Continue reading Engineering Report is Not a “Cost to Repair or Replace” Under Insurance Policy
Category: Insurance
Policy Reformed to Add New Building Owner as Additional Insured
Tred R. Eyerly | Insurance Law Hawaii The lower court correctly reformed the policy to replace the prior owner with the new owner as an additional insured under the policy. Wesco Ins. Co. v. Fulmont Mut. Ins. Co., 2023 N.Y. App. Div. LEXIS 2650 (N. Y. App. Div. May 11, 2023). Beyond… Continue reading Policy Reformed to Add New Building Owner as Additional Insured
Generative AI’s Impact On Insurance Coverage: An Interview With ChatGPT-4 And Coverage Counsel On What Policyholders Should Be Doing Now
Tamara D. Bruno, Peter M. Gillon and Jesse N. Vazquez | Pillsbury Winthrop Shaw Pittman Generative AI is transforming our economy in previously unimagined ways, with Goldman Sachs estimating a $7 trillion (7%) increase in global GDP by virtue of this ecosystem. Insurance is but one sector that will be impacted, with new products, services and opportunities… Continue reading Generative AI’s Impact On Insurance Coverage: An Interview With ChatGPT-4 And Coverage Counsel On What Policyholders Should Be Doing Now
Florida Enacts Property Insurance Overhaul for Benefit of Policyholders
Laura Farrant and Bradley S. Fischer | Lewis Brisbois On June 1, 2023, Governor Ron DeSantis signed into law CS/SB 7052 (the Act), increasing consumer protection and insurer accountability in Florida. The newly enacted and amended statutes under CS/SB 7052 bolster policyholder protections and impose greater insurer oversight, including heightened penalties for insurer misdeeds in… Continue reading Florida Enacts Property Insurance Overhaul for Benefit of Policyholders
Construction Litigation Roundup: “A Reel Insurance Brainteaser”
Daniel Lund III | Phelps Dunbar During construction of a movie theater in New York, an employee of a subcontractor was seriously injured by a co-employee operating a forklift. The injured employee sued the general contractor and the project and property owners for his injuries. The general contract had the typical insurance clauses in it,… Continue reading Construction Litigation Roundup: “A Reel Insurance Brainteaser”