Posts tagged with: "insurance"
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1 Apr 2014, 6:49 am by Alexander Barthet
Insurance is a “what if” product that goes hand in hand with construction work. Whether you’re building a single family home or an office high rise, there are a lot of different players and plenty of moving parts, all of which don’t necessarily always fit together correctly. Insurance can provide protection from loss due to construction defects, accidents, and natural disasters. It might even cover the cost of defending against claims. Most people appreciate the peace of mind… [read post]
1 Apr 2014, 6:44 am by Mark S. Humphreys
Life insurance lawyers will have to deal with situations where the proceeds of a life insurance policy are interpleaded into the registry of a court. A February 2014, 14th Court of Appeals opinion dealt with this issue. The style of the case is, Branch v. Monumental Life Insurance Company. Here is some of the relevant information. Monumental filed this interpleader to resolve competing claims to the proceeds of a $10,000 policy insuring the life of Archie Branch Sr. ("Archie"). The policy was… [read post]
1 Apr 2014, 6:37 am by Patrick B. Omilian
For a free copy of this month’s edition, click here.  Goldberg Segalla’s Reinsurance Review provides timely summaries of and access to the latest reinsurance law developments worldwide. For ease of reference, we have organized the cases by court and date. In addition, we provide the latest information regarding news in the insurance and reinsurance industries. To receive this publication for free each month, please contact Jeff Kingsley… [read post]
1 Apr 2014, 4:30 am by Denise Sze
Statues of Limitations are extremely important to policyholders and their attorneys. After all, when a statute runs, your rights to file a lawsuit in hopes of recovery disappears. However, the age old question of when is an actual “date of loss” or “manifestation” in property insurance law is still debated, depending upon the circumstances. In order to calculate a statute for breach of contract or bad faith causes of action (or any tolling during adjustment of a claim), step… [read post]
31 Mar 2014, 3:26 pm by Rabeh Soofi
On March 6, 2014, the Department of Health and Human Services’ Office for Civil Rights settled the first known HIPAA violation allegation against a state governmental agency, for $215,000. The settlement involved the Skagit County Public Health Department in Washington State. Initially, OCR’s investigation focused on potential access of seven individuals’ ePHI on a public County server, which included ePHI related to infectious disease testing and treatment. The investigation later… [read post]
31 Mar 2014, 3:25 pm by Barger & Wolen LLP
Last week, Towers Watson & Co. unveiled a program that would enable employers to eliminate unfunded retiree health care plan liabilities for Medicare-eligible retirees by shifting those liabilities to insurers through the purchase of group annuities. Barger & Wolen partner Michael Newman told Business Insurance in its March 30th story about the program that retiree health care plan liabilities are a big issue for some employers. “A lot of employers want to defuse those liabilities, but… [read post]
31 Mar 2014, 12:26 pm by By MATTHEW GOLDSTEIN
New York officials found that two MetLife subsidiaries that were once part of American International Group had solicited business in the state without having a license. [read post]
31 Mar 2014, 12:01 pm by Cynthia Marcotte Stamer
Health care providers, health plans, health care clearinghouses and their business associates Health Insurance Portability and Accountability Act (HIPAA)  should check out the new  Security Risk Assessment (SRA) Tool (Tool)  application from the Office of the National Coordinator for Health IT (ONC).  ONC says the Tool will help users take a self-directed tour of and assess compliance with the HIPAA Security Rule more understandable and security risk assessments easier.… [read post]
31 Mar 2014, 9:26 am by Sean Gallagher
After "changing flat tires on this rolling car for the last five, going on six months," Maryland is taking its lemon of a healthcare enrollment site off the road. With the deadline for US citizens to enroll in a health plan nigh, Maryland has decided to pull the plug on its ailing health insurance exchange site and replace it with an entirely new system built for another state. The board of the Maryland Health Benefit Exchange, the quasi-public entity set up by the State… [read post]
31 Mar 2014, 8:58 am by Kirsten Thompson
A Commentary on Recent Legal Developments by the Opinions Group of McCarthy Tétrault LLPBy Kirsten Thompson The Supreme Court of Canada denied leave to appeal from two cases of interest to Canadian businesses, particularly insurers. The application for leave to appeal in Malhotra v. State Farm Fire and Casualty Company, 2013 ONCA 326 concerns two orders appointing an umpire under s. 128 of the Ontario Insurance Act. The dispute was in respect to five properties owned by the applicant, Ms.… [read post]
31 Mar 2014, 8:12 am by Michael A. Rosenberg, Esq.
Tighter legislation, enhanced public awareness, and coordinated law enforcement efforts appear to be having a positive effect on PIP fraud in Florida, according to a recent report by the National Insurance Crime Bureau (NICB). The new study published by the organization showed Florida’s personal injury protection (PIP) questionable claims (QCs) have dropped 7.6 percent from 2012 to 2013. More striking, however, was the extraordinary decline from 2010 through 2013,… [read post]
31 Mar 2014, 8:07 am by Adam Weinstein
The Financial Industry Regulatory Authority (FINRA) sanctioned broker Allen B. Olander (Olander) of Centaurus Financial, Inc. (Centaurus) concerning allegations that Olander failed to disclose an IRS lien on his Form U4, borrowed money from a customer, and made unsuitable recommendations in the sale and exchange of variable annuities.  This is the second Centaurus broker that we have recently reported has been sanctioned. Olander first became registered as an registered broker in 1993.… [read post]
31 Mar 2014, 7:39 am by Chip Merlin
Arizona hail damage losses are being hotly litigated by the insurance industry. Last week, Farmers was hit with a $1,904,000 punitive damage verdict for failing to adjust a hail damage claim in good faith. The compensatory damages were $952,000. One of The Travelers Claims Practice Networking attorneys, David Chami, achieved this verdict. He retained claims practice expert Charles M. Miller, who testified at trial. Rimkus was Farmers expert regarding the cause and origin of the roof damage. Here… [read post]
31 Mar 2014, 6:48 am by Thomas J. Pryor
In response to concerns raised by the public, legislators, the Community Associations Institute and others, Congress recently passed the Homeowner Flood Insurance Affordability Act of 2014.  Signed by President Obama into law, the legislation forestalls significant increases in flood insurance premiums that were set to have taken effect. The Act implements measures, including the following: an 18% annual cap on flood insurance premium rate increases under the National Flood Insurance Program;… [read post]
31 Mar 2014, 4:53 am by By CHAD BRAY
The Financial Conduct Authority says it plans to review how investment banks control the flow of internal information on benchmark rates, potential conflicts of interests within financial institutions and internal controls on traders in relation to global benchmarks. [read post]
31 Mar 2014, 4:31 am by Shaun Marker
On March 26, 2014 the Florida Senate unanimously passed a bill (Senate Bill 542) to encourage a private flood insurance market. The bill is at a time where there are concerns over the National Flood Insurance Program ("NFIP") changes that will be increasing premiums for policyholders in flood prone areas. The bill has been discussed before in my previous post, Will Floridians Have An Option To Obtain Affordable Flood Insurance Coverage From Private Insurers? The bill creates an alternative… [read post]
31 Mar 2014, 4:00 am by Gregory Herman-Giddens
Time and research is required to understand elder care in North Carolina. Individuals starting to explore long-term care insurance may not realize that North Carolina imposes several requirements on insurance providers. These requirements protect the rights of consumers and, in some cases, provide more affordable coverage options. Long-term care insurance policies can help cover the increasing costs of care that seniors may need as they age, care that seniors often either pay for out of pocket or… [read post]
29 Mar 2014, 11:13 pm
Social Security Disability Insurance (SSDI) is a benefits program that is based on work-history and thus provides income to a disabled person in an amount determined by wages earned over his working life. Supplemental Security Income (SSI) is another disability benefits program that is means tested and intended for lower income individuals. SSI pays out a maximum benefit of $721 per month, while people receiving SSDI may have higher benefits. Unfortunately, a person who is born severely disabled… [read post]
29 Mar 2014, 7:40 am by Nicole Vinson
Last month, the Florida Senate Appropriations Committee unanimously passed Senate Bill 708. If the bill becomes law, part of the language would curb Universal Property Insurance Company, and all insurance companies in the state, from alleging certain application misrepresentations. Currently, Florida residential property insurance companies have 90 days to perform underwriting on an insurance risk – the specific dwelling and insured it is offering insurance coverage for – but what… [read post]
29 Mar 2014, 4:14 am by Steven Gursten
New CPAN study shows auto insurers won 84% of major No Fault cases before Michigan’s highest court in last 10 years Attorneys who represent auto accident victims in this state have long suspected  that the deck is stacked against their clients  when they take their case before the Michigan Supreme Court. Those suspicions are now confirmed, according to an excellent and timely new study by the Coalition Protecting Auto No-Fault (CPAN),  “Analysis of Michigan Supreme Court… [read post]