Insurance 101 – Chapter 9 – Volume 1 – Investigation of Liability Claims

Investigation of Liability Claims

Insurance is designed to indemnify an insured against contingent or unknown losses. Insurance makes no sense if it can be purchased after the loss has occurred. For example, in California, “Insurance is a contract whereby one undertakes to indemnify another against loss, damage, or liability arising from a contingent or unknown event.”1 For there to be an insurable loss it is necessary that the loss, damage or liability arose from an accident, a contingent or unknown event.

The following video was adapted from my book, “Insurance Claims A Comprehensive Guide” Published by the National Underwriter Company and is available at the Zalma Insurance Claims Library

Legal Disclaimer

The author and publisher disclaim any liability, loss, or risk incurred as a consequence, directly or indirectly, of the use and application of any of the contents of this blog. The information provided is not a substitute for the advice of a competent insurance, legal, or other professional. The Information provided at this site should not be relied on as legal advice. Legal advice cannot be given without full consideration of all relevant information relating to an individual situation.

Insurance 101 – Chapter 8 – Volume 100 – The Release of All Claims – 3

The Release of All Claims – 3

In Bogy v. Ford Motor Co., No. 06-60308 (5th Cir. 01/16/2008), the Fifth Circuit reached the opposite result applying the law of Mississippi. Bogy claimed that Ford had falsely testified in responses to discovery and that truthful responses would have changed the position of the plaintiffs.

The following video was adapted from my book, “Insurance Claims A Comprehensive Guide” Published by the National Underwriter Company and is available at the Zalma Insurance Claims Library

Legal Disclaimer

The author and publisher disclaim any liability, loss, or risk incurred as a consequence, directly or indirectly, of the use and application of any of the contents of this blog. The information provided is not a substitute for the advice of a competent insurance, legal, or other professional. The Information provided at this site should not be relied on as legal advice. Legal advice cannot be given without full consideration of all relevant information relating to an individual situation.

Insurance 101 – Chapter 8 – Volume 99 – The Release of All Claims – 2

The Release of All Claims – 2

When the case was returned to the trial court, State Farm filed a motion for judgment on the pleadings. State Farm asserted the complaint did not state a claim upon which relief could be granted, because the Association’s claims were barred by the settlement agreement and release, and the Association could not rescind the settlement agreement without first offering to restore to State Farm the consideration it paid under the agreement. The trial court  granted the motion, with leave to amend, observing that the  complaint did not allege fraud in the inducement or rescission, and that the Association “need[s] to either rescind the agreement or affirm the agreement and sue for damages.”

The following video was adapted from my book, “Insurance Claims A Comprehensive Guide” Published by the National Underwriter Company and is available at the Zalma Insurance Claims Library

Legal Disclaimer

The author and publisher disclaim any liability, loss, or risk incurred as a consequence, directly or indirectly, of the use and application of any of the contents of this blog. The information provided is not a substitute for the advice of a competent insurance, legal, or other professional. The Information provided at this site should not be relied on as legal advice. Legal advice cannot be given without full consideration of all relevant information relating to an individual situation.

Insurance 101 – Chapter 8 – Volume 98 – The Release of All Claims

The Release of All Claims

A first party property insurer may not require a general release from an insured when paying a claim because the payment is one of contractual indemnity where the amount is certain. At most, the insurer is entitled to a proof of loss or a receipt acknowledging receipt of payment. The only reason for a general release between a first party property insurer and its insured, is when the amount of loss is in dispute and a compromise is entered into between the insured and the insurer. When there is such a dispute additional consideration is paid the insured for the signed release that protects the insurer from litigation and allows it to buy its peace.

The following video was adapted from my book, “Insurance Claims A Comprehensive Guide” Published by the National Underwriter Company and is available at the Zalma Insurance Claims Library

 

Legal Disclaimer

The author and publisher disclaim any liability, loss, or risk incurred as a consequence, directly or indirectly, of the use and application of any of the contents of this blog. The information provided is not a substitute for the advice of a competent insurance, legal, or other professional. The Information provided at this site should not be relied on as legal advice. Legal advice cannot be given without full consideration of all relevant information relating to an individual situation.