Kenneth Kan – April 2, 2013 Question: Who decides whether a claim involves a total loss? A. The policyholder B. The insurance company C. An appraisal panel D. The court E. None of the above If you answered “D,” you are correct. Recently, the Supreme Court of Minnesota addressed this very question. In the case… Continue reading Who Decides Whether A Claim Involves A Total Loss
Property Insurance Increases Likely for Coastal Residents
Wayne Faulkner – March 31, 2013 Many coastal-area homeowners hit by waves of property insurance increases in recent years should get ready for another pounding. A new federal law is threatening huge hikes in flood insurance premiums for certain homes and businesses when it kicks in this year and next. The law, called the Biggert-Waters… Continue reading Property Insurance Increases Likely for Coastal Residents
Trial Lawyers vs. Business Groups: ‘Bad Faith’ Changes Take First Step
Jim Saunders – March 28, 2013 Amid a renewed lobbying fight between business groups and trial lawyers, a House panel Wednesday narrowly approved a bill that could help shield insurers from big-money lawsuits in disputes about settling claims. The House Civil Justice Subcommittee voted 7-6 to approve a measure (HB 813) aimed at reining in… Continue reading Trial Lawyers vs. Business Groups: ‘Bad Faith’ Changes Take First Step
Working Without a Safety Net: can Subcontractors and Suppliers still Sue an Owner for Quantum Meruit and Unjust Enrichment in Virginia
Subcontractors and suppliers provide labor, equipment or materials on construction projects without direct contractual relationships with the project owner, the ultimate beneficiary of that work, equipment and materials. In the event of payment disputes, those subcontractors and suppliers will often look directly to the project owner, as the ultimate beneficiary, for payment. Payment may be… Continue reading Working Without a Safety Net: can Subcontractors and Suppliers still Sue an Owner for Quantum Meruit and Unjust Enrichment in Virginia
The Emperor’s New Economic Loss Rule
Peter C. Vilmos – March 28, 2013 For years, litigating breach of contract cases in Florida meant having to struggle with the array of cases dealing with the Economic Loss Rule. In its simplest form, the Economic Loss Rule is a judicially created principle that prohibits tort damages in a breach of contract action where… Continue reading The Emperor’s New Economic Loss Rule