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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.
Judge Rules Shaquille O'Neal Will Face Securities Lawsuit for Promotion, Sale of NFTs
A federal district court in Miami, FL, has ruled that former National Basketball Association star Shaquille O'Neal will have to face a lawsuit over his promotion of unregistered securities in the form of cryptocurrency tokens and that he was a "seller" of these unregistered securities.
Why So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It
Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?
Blockchain Domains: New Developments for Brand Owners
Blockchain domain names offer decentralized alternatives to traditional DNS-based domain names, promising enhanced security, privacy and censorship resistance. However, these benefits come with significant challenges, particularly for brand owners seeking to protect their trademarks in these new digital spaces.
Coverage Issues Stemming from Dry Cleaner Contamination Suits
In recent years, there has been a growing number of dry cleaners claiming to be "organic," "green," or "eco-friendly." While that may be true with respect to some, many dry cleaners continue to use a cleaning method involving the use of a solvent called perchloroethylene, commonly known as perc. And, there seems to be an increasing number of lawsuits stemming from environmental problems associated with historic dry cleaning operations utilizing this chemical.