Category: Insurance

Asked and Answered: Retail Insurance Agent Meets Standard of Care by Requesting Coverage Sought, Even If Insurer Declines to Underwrite Risk

Dana Gittleman | Marshall Dennehey Weaver Warehouse sought $3 million in builder’s risk insurance and $2.6 million in existing structure coverage for property renovations; however, an error occurred in the application process, resulting in less existing structure coverage offered by the insurer, Great American. At Weaver’s request, the retail insurance agent and agency, Jeff Gottschalk… Continue reading Asked and Answered: Retail Insurance Agent Meets Standard of Care by Requesting Coverage Sought, Even If Insurer Declines to Underwrite Risk

With Wildfires at a Peak, “Firetech” Is Joining Smart City Lineups

James P. Bobotek | Gravel2Gavel The threat of extreme wildfires has doubled in the past 20 years, with almost 20,000 fires blazing across the United States in 2024 alone. These high-intensity fires can be deadly, expensive, and create lingering health and environmental consequences. While we are used to seeing firefighters on the frontlines, researchers hope that next-generation… Continue reading With Wildfires at a Peak, “Firetech” Is Joining Smart City Lineups

A Win for Policyholders: Court Finds Flood Exclusion Inapplicable to Plumbing Leaks Caused by Hurricane Rainfall

Kelly A. Johnson and Damian S. Barquin | SDV Insights A recent decision by a federal court helps clear the path to coverage for property owners this hurricane season. The Court deemed one property policy’s flood exclusion inapplicable to bar coverage for water damage from backed-up drainage and overflow caused by excessive rainfall. The case,… Continue reading A Win for Policyholders: Court Finds Flood Exclusion Inapplicable to Plumbing Leaks Caused by Hurricane Rainfall

Is Blockchain the Next Big Thing for Insurance Companies?

Gina Alsdorf, Esq. and Jason Berkun | Carlton Fields The financial service industry has been on a quest to automate processes for some time. Many computer processes work without much human interaction, if any at all. However, because there are still many processes performed by hand and keyed in after the fact, there are still… Continue reading Is Blockchain the Next Big Thing for Insurance Companies?

Insurers Need Not Prove Prejudice to Deny Coverage for Failure to Provide “Prompt Written Notice” Under a Claims-Made Policy

Kelsey Hunt and Jessica Gallinaro | Wiley Rein The United States Court of Appeals for the First Circuit, applying Massachusetts law, has held that an insurer does not need to prove that it was prejudiced by the insured’s untimely notice to deny coverage under a “claims-made” policy. Stormo v. State Nat’l Ins. Co., 2024 WL 4234670… Continue reading Insurers Need Not Prove Prejudice to Deny Coverage for Failure to Provide “Prompt Written Notice” Under a Claims-Made Policy