David Adelstein | Florida Construction Legal Updates A liability insurer has two duties that are the crux of a liability policy: the duty to defend the insured in legal actions and the duty to indemnify the insured from losses covered under the policy. Many times, policyholders (insureds) do not fully understand or appreciate these two important… Continue reading Understanding Liability Insurer’s Two Duties: To Defend And To Indemnify
Category: Insurance
Florida Begins New Era with Major Property Insurance Reforms
John David Dickenson and Chad A. Pasternack | Property Insurance Law Observer For the fourth time since 2019, the Florida Legislature has enacted property insurance reforms aimed towards stabilizing a beleaguered insurance market. The bill, S.B. 2-A, creates a reinsurance assistance program, establishes additional oversight for insurers with high volumes of hurricane claims, and reforms many… Continue reading Florida Begins New Era with Major Property Insurance Reforms
What To Expect In Builder’s Risk Insurance Claims In 2023
Jane Warring | Zelle With interest rates on the rise, sticky inflation, few signs of a cooling labor market, and continued instability in Russia, China and beyond affecting energy prices and exports, the builder’s risk insurance industry is in store for more complex claims in 2023. Builder’s risk insurance may be purchased by owners and… Continue reading What To Expect In Builder’s Risk Insurance Claims In 2023
California Law Creates Statutory Safe Harbor for Certain Insurers Receiving Time-Limited Pre-Litigation Settlement Demands
Jennifer Mathis, Kevin F. Kieffer, Carrie E. Paulsen and Dane Brody Chanove | Troutman Pepper A new California statute effective January 1, 2023 contains requirements for claimants and insurers alike when claimants issue pre-litigation time-sensitive settlement demands under automobile, motor vehicle, homeowner, or commercial premises liability insurance policies for claims alleging personal or bodily injury,… Continue reading California Law Creates Statutory Safe Harbor for Certain Insurers Receiving Time-Limited Pre-Litigation Settlement Demands
Clock is Ticking: New Law Restricts Time-Limited Policy Limit Settlement Demands
Donimica C. Anderson and Daniel B. Heidtke | Duane Morris Certain time-limited settlement demands delivered on or after January 1, 2023 will be subject to additional restrictions as California Code of Civil Procedure (“CCP”) Sections 999-999.5 take effect in the New Year. In the past, policyholder counsel have issued policy-limit demand letters, with little detail,… Continue reading Clock is Ticking: New Law Restricts Time-Limited Policy Limit Settlement Demands