Hurricane Maria’s Second Anniversary – What To Do If Your Claim Has Not Yet Been Settled
by Julitza Perez on September 22, 2019 at 4:29 am
It has been two years since Hurricane Maria struck and caused catastrophic damage in Puerto Rico. Since then, many policyholders have been struggling to get the reasonable payment owed under their policy to make repairs, but the number of policyholders with unsettled property claims is still very high. There were many lessons learned after this…… Continue Reading
Insurance Regulations Prohibit an Insurer From Just Standing By Its Repair Estimate When An Insured’s Estimate Demonstrates the Cost to Repair Is More – Another California Practice Tip
by Victor Jacobellis on September 21, 2019 at 4:15 am
In California, the moment an insured obtains a repair estimate that exceeds the insurer’s estimate, the insurer must either pay the difference or adjust its original estimate. This rule is set forth in the Fair Claims Settlement Practices Act, 10 Cal. Code Regs. § 2695.9(d). Generally, whenever anyone makes an insurance claim, the insurance company…… Continue Reading
The blockchain breakthrough in insurance
by Matthew Lehman on September 20, 2019 at 11:20 am
From blockchain’s early years, the insurance industry has grasped the potential advantages of a distributed ledger system that ensures consistency of data across a network. Many insurers were quick out of the starting blocks with distributed ledger technology (DLT) pilots and proofs of concept to experiment with its potential as a disruptive technology. Yet unrealistic expectations about how quickly and easily… The blockchain breakthrough in insuranc
Can Misrepresentations In a Proof of Loss Void Coverage?
by Christina Phillips on September 20, 2019 at 4:15 am
It can be difficult after a fire for an insured to remember with 100% certainty what personal property they had in their home. Most likely, receipts and other purchase records have also been destroyed. As such, public adjusters in preparing estimates and/or proofs of loss are typically left to rely upon the insured’s memory. After…… Continue Reading
How You Can Prepare For the Topic of Medical Insurance for Pets
by Mairi B on September 19, 2019 at 6:40 pm
It’s Pet Health Insurance Month! This month-long observance is something we can get behind (clearly). But is medical insurance for pets something you should care about? Let’s talk through it. Twelve million is the average number of new puppies and kittens being born each year. Think about how many of them your hospital will treat. […] The post How You Can Prepare For the Topic of Medical Insurance for Pets appeared first on The Trupanion Blog.