Recent Insurance Decisions of the Texas Supreme Court On Aug. 29, 2008, the Texas Supreme Court continued its recent foray into insurance law by issuing three important insurance coverage decisions. Each of these decisions merits consideration and will likely dramatically …
Understanding the Limits of Oral and Written Binders Insurance Code Section 382.5(a) defines a binder as a “writing” that “temporarily obligates the insurer to provide … insurance coverage pending issuance of the policy.” It has been described as “an independent …
Retention of Business Records Most people dread record keeping, whether it is logging expenses, travel mileage, billable hours, laps on the treadmill or the birthday presents given to family friends. Although it is tedious, record keeping is necessary for the …
A Review of Reporting Changes in Licensee’s Background Information Many licensees or applicants are unaware of the continuing requirement to notify the California Department of Insurance (DOI) of changes in the background information they provided on their original insurance applications …
Liability for Failing to Obtain Promised or Reasonably Anticipated Coverage Author’s note: This is part II in a series on broker liability. Part I appeared in the Aug. 4, 2008, issue. Absent any express representations of coverage by the agent …
Agents Liable for Failing to Obtain Promised or Reasonably Anticipated Coverage Absent any express representations of coverage by the agent or broker, when the insured accepts a policy without objection, the general rule is that a duty is placed upon …
In both Mississippi and Louisiana, the principal argument in support of the alleged ambiguity was that the flood waters during Hurricane Katrina were pushed ashore by wind, a covered peril, and the flood exclusion did not clearly exclude this ‘storm …
providing [the Department of Insurance] a well-crafted response. Receiving a letter from the California Department of Insurance concerning a customer’s complaint is truly an unsettling experience for many agents. The initial response for many agents upon receiving the complaint letter …
Is There a Duty to Advise About Adequacy of Coverage? Author’s note: This month’s column will examine the liability of a broker for an alleged failure to advise the insured about the adequacy of insurance coverage. The next column in …
Navigating the Field of Conflicting Views Consider the following scenario: An earthquake, tornado, flood or similar natural catastrophe causes significant structural damage to an insured’s home. Although the building is still standing, the structural engineers conclude that the structural integrity …
