Posts tagged with: "insurance"
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30 Nov 2009, 4:56 am
Kentucky law requires an auto insurer to provide added reparation benefits (ARB) coverage. This obligation, however, is triggered by the request of the insured by Kentucky Court of Appeals ruled recently in Cain v. American Commerce Insurance Company, No. 2008-CA-001500 (October 30, 2009).
Cain was injured in an auto accident due to the fault of another driver. She was paid basic reparation (BRB also known as PIP) benefits of $10,000 plus added reparation benefits of $20,000 for each of her… [read post]
30 Jul 2010, 3:59 pm
Life insurance is a critical financial tool for many families in the United States. As a recent Missouri case illustrates, the failure of an insured to give true answers on a life insurance application can result in a loss of the insurance policy when it comes time to collect the life insurance. In the case of Adams v. Stonebridge Life Insurance Company, the 8th Circuit Court of Appeals held that where a man who purchased life insurance policy gave false and misleading answers on application in… [read post]
10 Jul 2012, 5:16 am
I was recently speaking with a client about the posture of a pending case and the client was surprised to know that nearly all of the insurance companies that were originally brought into the suit had whittled their way out due to policy limitations, lack of coverage and policy exclusions. Most laymen, including contractors and homeowners, believe that if they purchase a policy or file suit against another party’s insurance policy that there will be a windfall payout all the way up to the policy… [read post]
20 Jun 2011, 4:02 pm
A dozen different bills aimed at tightening consumer protection aspects of insurance industry regulations have passed through their respective houses in the California Legislature.
One proposal would give the Insurance Commissioner the authority to reject excessive health insurance rate increases by requiring health plans and insurers to seek approval from state regulators prior to raising health care premiums, co-payments, or deductibles.
The state currently lacks such authority,… [read post]
13 Apr 2011, 6:20 am
Image by Cassiopée2010 via Flickr
Veterinary bills are increasing much faster than the overall rate of inflation. Part of this reason lies in the advancements of medical techniques and the increasing number of veterinarian specialists. These trends, however, come at a price. For example, performing a magnetic resonance imaging (MRI) exam on the spine of a cat can cost upwards of $2,000. Removing a tumor on a dog can cost $4,000, and implanting a pacemaker can cost over $7,500. Even dealing… [read post]
19 Aug 2010, 4:53 pm
Barger & Wolen's insurance law blogs have collectively been ranked No. 5 by LexisNexis in the Insurance Law Community's Top 50 Insurance Blogs 2009 Honorees.
According to LexisNexis,
These top blogs offer some of the best writing out there. They contain a wealth of information for all segments of the insurance industry, and include timely news items, expert analysis, practice tips, frequent postings and helpful links to other sites and sources.
Demonstrating on a daily basis that… [read post]
6 Dec 2012, 6:33 am
Have you suffered losses investing in the Foresee Strategies Insurance Fund? If so, The White Law Group may be able to help you recover those losses through FINRA arbitration.
It is being reported that several brokerage firms sold the Foresee Strategies Insurance Fund and the Foresee Strategies3(c)(1) Insurance Fund, LP in the sub accounts of variable annuities offered through Sun Life Financial, Inc. Generally the investments offered in variable annuity subaccounts are relatively… [read post]
14 Dec 2010, 8:49 am
When your insurer fails, you might still have room for resolution
Have you ever had an insurable loss on a construction project? Were you denied by the insurer and dumped into a rut of litigation. A recent legal opinion helps better understand your rights after denial by the insurer.
The court in Vision One, LLC v. Philadelphia Indemnity Insurance Co. (Wash. Ct. App. Division Two, October 19, 2010), established a ruling that permits an insured, who has been denied coverage, to move forward and… [read post]
14 Aug 2012, 1:00 pm
Partner Larry Golub was quoted in a Law360 (subscription required) article published on Aug. 9, 2012, about a key California Supreme Court ruling that insurance policyholders with long-term property damage and personal injury claims could force carriers to cover damage outside their policy periods and stack coverage to maximize recovery.
The case, State of California v. Continental Insurance, stemmed from battle between the state of California and six excess insurance over an environmental cleanup… [read post]
9 Jun 2010, 8:53 am
Umbrella liability insurance is so named because it acts like an umbrella, sitting on top of your auto and homeowners liability policies to provide extra liability protection for you and your family. Most Americans carry liability coverage on their cars and home that would provide insurance coverage that could be used to pay claims in the event that you or a member of your family negligently caused injury to another person. Umbrella coverage is designed to pay only after your other policies… [read post]
18 May 2011, 6:53 am
Thank you Florida Legislators. Thank you Governor Rick Scott. That gratitude is undoubtedly spilling forth throughout the hallowed halls of every insurance company writing property insurance in the State of Florida. The Florida legislature passed Senate Bill 408 after a similar bill had been previously vetoed by Governor Charlie Crist. With a super majority, the legislature wasted no time in pushing something through to make insurance companies and the Chamber of Commerce feel, well, real warm and… [read post]
14 Jan 2010, 10:31 am
Despite the clarity of New York State Insurance Law I have been made aware, from plaintiffs , that on multiple occasions structured settlement brokers are doing that which is is expressly prohibited by Article 77. What is worse and what regulators need to be made aware of is that this is occurring when lower rated companies are being pushed. This is exactly the reason why such an advertising prohibition exists in New York and most other states. Last January, this author obtained a legal… [read post]
26 Aug 2011, 11:46 pm
No doubt about it – automobile insurance policies are confusing. Many a time has a recently-injured potential client of the firm entered the office to boast confidently: “I am fully covered” or “Don’t worry, I have enough coverage”…believing that their insurance policy will pay for all of their injuries. It is then made all the more distressing when I have to be the one to inform them that they are mistaken.
The purpose of this series of articles is to explain some of the basic terms… [read post]
8 Dec 2010, 1:07 pm
“Hopefully…. insurance companies get hit hard for this abuse”
An auto accident victim named “Aron” contacted me about one of my many blog posts on insurance company IME doctors ruining Michigan’s No-Fault insurance system. Aron told me that he’s unfortunately experiencing exactly what I wrote about.
Here’s what he said:
Steven,
My wife actually told me to read this because she was at work and saw this post and called me right away and said, “You have to read this article, this is… [read post]
20 Apr 2010, 1:40 pm
One month from today, the National Association of Insurance Commissioners (“NAIC”) will hold a meeting to address Stranger Originated/Owned Annuities (“STOA”). Similar to Stranger Originated/Owned Life Insurance (“STOLI”), STOA transactions often involve seniors and terminally ill individuals who were induced to purchase annuities largely for the benefit of an investor. The NAIC is “determined to address how individuals are being affected by these new transactions and whether new or… [read post]
22 Mar 2010, 10:51 am
Although it’s much too soon to tell how the federal healthcare overhaul will affect the way the insurance industry conducts business, the bill may have done a few things right. “Immediate Effects of Health Reform Bill.” A few provisions go into effect in six months; others won’t be enforceable until 2014.
• People whose policies are rescinded through no fault of their own are now protected under federal law. Even though rescission is regulated under the law of most states, carriers tend… [read post]
26 Jul 2011, 9:32 am
When a person's property is damaged, or they have received injuries after an accident, they begin the claims process in order to receive compensation. In most cases, the insurance company will help the insured through the claims process, the damage will be assessed, and the claim will be handled quickly and fairly.
In some instances, however, the insurance company may not respond in a good faith manner, and this can be justification for filing a bad faith claim. Insurance bad faith is a legal… [read post]
24 Feb 2011, 11:21 am
ACE Insurance Litigation Watch (ALW), the online repository for lawsuits against the ACE Ltd. insurance company (NYSE: ACE), reported in a press release on February 15, 2011 that ACE subsidiary Century Indemnity Insurance Company, has been cited by Los Angeles District Court judge Hon. Stephen Wilson for “egregious” delays of payments owed to Pepsi- Cola Metropolitan Bottling Company Inc., a division of the Pepsico.
The press release states “In December 2010, the judge in the case,… [read post]
4 Oct 2009, 9:54 am
"Tort Reform, Tort Reform, Tort Reform," the phrase has almost become a song. Nobody likes to see undeserving people win huge, unjustified damage awards, but the fact is, it doesn't really happen in California, except on maybe on TV. Los Angeles Times business columnist Michael Hiltzik couldn’t be more correct when he writes that one of the biggest fans of so-called tort reform is the insurance industry, “because the less money they pay out to plaintiffs, the more they get to keep.” See… [read post]
28 Feb 2012, 9:33 am
By John Armstrong
Congress made significant changes to the laws allowing the removal of actions filed in local state courts to be removed to federal court. Two kinds of cases have historically been allowed to proceed in federal court—even if filed and served in state courts, namely, “subject matter jurisdiction” where a federal law or policy is the gravamen of the claim and “diversity jurisdiction” where the dispute involves more than $75,000 and all of the plaintiffs and all of the… [read post]