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The Role of Causation Analysis in the Insurance Appraisal Process
With the recent onslaught of hurricane claims in the aftermath of Hurricane Katrina and the growing number of hurricane claims related to the 2008 phenomena that was Hurricane Ike, the importance of efficient, economical, and accurate resolution of property claims following natural disasters has become increasingly evident to courts, insurers, and policyholders alike. Enter the concept of appraisal and a long-established insurance clause routinely enforced by the tribunals. While insurance appraisal clauses are standard in many homeowners' policies, the manner in which they are utilized by insurers and policyholders ' and the way in which they are interpreted by the courts ' differs based upon the role an appraiser plays in interpreting causation.
Several courts recognize that an appraiser will properly take into account certain causation elements in assessing the loss amount. These courts insist that causation is a matter best left solely to the courts only when an insurer denies coverage. On the other side, several courts have also determined that causation questions never belong in an appraiser's loss determination, whether or not an insurer is denying coverage. Regardless of the outcome of this debate, the appraisal process will continue to be a critical tool in effectively resolving claims of the magnitude that these devastating events precipitate. The question for the courts (and key players such as insurers and policyholders) is the extent to which this tool should be used and the extent to which it will be allowed to cross into the jurisprudential boundaries of the court system.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
Law Firms are Reducing Redundant Real Estate by Bringing Support Services Back to the Office
A trend analysis of the benefits and challenges of bringing back administrative, word processing and billing services to law offices.
Bit Parts
Summary Judgment Denied Defendant in Declaratory Action by Producer of To Kill a Mockingbird Broadway Play Seeking Amateur Theatrical Rights
Risks of “Baseball Arbitration” in Resolving Real Estate Disputes
“Baseball arbitration” refers to the process used in Major League Baseball in which if an eligible player's representative and the club ownership cannot reach a compensation agreement through negotiation, each party enters a final submission and during a formal hearing each side — player and management — presents its case and then the designated panel of arbitrators chooses one of the salary bids with no other result being allowed. This method has become increasingly popular even beyond the sport of baseball.
Disconnect Between In-House and Outside Counsel
'Disconnect Between In-House and Outside Counsel is a continuation of the discussion of client expectations and the disconnect that often occurs. And although the outside attorneys should be pursuing how inside-counsel actually think, inside counsel should make an effort to impart this information without waiting to be asked.