A One-Stop Insurance Law Firm
As I have been investigating price optimization (PO), I learned that there are two primary concerns: The first concern is whether the application of PO is a move away from risk based rating. The second concern is whether PO results in rates that are unfairly discriminatory, particularly to low income consumers. In other words, would two identical risks get different…
Private passenger auto policies commonly excluded liability coverage for “livery” use starting around the middle of 1960, and the courts customarily applied this exclusion where the private passenger auto was used as a taxi (i.e. gypsy cab). As the courts eroded the effectiveness of the exclusion, and for-profit use of the private auto expanded, insurers have modified their policy language…
Mediation has proven time and time again to be a very cost-effective and fair method for resolving disputes. Far too often the real hurdle to effectuating a settlement is the need for one or more of the parties to “tell their story” so they can purge themselves of the emotional angst. Most often this is a need of the injured…
Stacey English & Susannah Hammond recently published a paper in which they wrote (and it bears repeating as they are so right): The costs and consequences of non-compliance within financial services firms are greater than ever before. The cost for firms of endeavoring to be compliant has been growing in line with the rapid rate of regulatory change but it…
The Nash Group provides litigation management services to insurance companies in all states where it is permitted to do so without being a licensed attorney. Ohio attorney Jeff Nash is also admitted to the practice of law in Georgia, where being a Georgia licensed attorney is required to litigation management services. Both Jeff and Nash Group Senior Attorney Karen Shaw honed their litigation management skills at Progressive,…
Under a family of related federal laws intended to support U.S. foreign policy and national security goals it is a violation for an insurer to issue a policy, engage in a transaction (including receipt of premiums and payment of claims), or facilitate a transaction with an OFAC Target. These laws are administered by the Office of Foreign Assets Control (OFAC). …
I have been asked: “Is there a difference between a hurricane and a wind deductible in a homeowner’s insurance policy?” The answer is, generally, with most homeowner insurance policies, YES, there is often a difference between wind deductibles and hurricane deductibles. It depends on how the insurance policy describes the deductible. The deductible is the amount of the damage that…
In calculating the number of days for mailing notice of cancellation or nonrenewal, an insurer must add “mailing days” to the minimum number of days required as advance notice before the effective date. The number of days that must be added varies by state, and state specific research is needed to determine the requirements. The general mailing rule is, first, an…
Legislation to provide consumers relief from the planned National Flood Insurance Program rate increases has been approved by President Barack Obama. The new law will reinstate grandfathered rates, cap premium increases, and reform the FEMA flood mapping process. Nonetheless, I note the Wichita Eagle reports: “Thousands of Indiana homeowners who live in flood-prone neighborhoods are bracing for big insurance premium…
Welcome to The Nash Group LLC blog, where I, Jeff Nash, will sporadically share ideas, information, activities and thought provoking quotes.