Over the past few years law firms have seen a significant increase in cyber-attacks. According to the American Bar Association, of those polled nearly one third of firms with 100 or more attorneys have reported some form of data breach! That’s huge. Of all the cybersecurity weapons the hacker’s use, the most popular one is […]
Michael J Faul Jr
Assignment of Rights Under an Insurance Policy
Can You Assign Your Rights Under an Insurance Policy? Whether you can assign rights under your insurance policy to someone else is a common issue that many policyholders face. Insurance companies include terms in their policies that prohibit assignment of rights. However, there are circumstances under which an assignment of rights may be necessary, especially […]
As Claims Mount, Insurance Companies Change the Rules
Businesses that are adding or renewing insurance policies need to be aware that insurance companies are constantly changing the rules of the game. The ironclad rule of the insurance business is that insurance companies do not like to pay claims. When doing so begins to harm their bottom line, they begin to change the rules […]
COVID-19 Business Interruption Cases Continue in Large Numbers
One thing is certain, and that is that the COVID-19 pandemic will leave us with a tidal wave of litigation for years to come. There have already been several lawsuits filed against insurance companies that have denied claims for business interruption due to the pandemic. While insurance companies have won some of these lawsuits, in […]
The Importance of Having an Attorney Review Your Corporate Insurance Policy
Your commercial insurance policy’s coverage can make the difference between surviving a crisis and having to close your doors. If damage that you sustain falls under a policy’s exclusion, you could find yourself with a large potential claim that the insurance company will not pay. Therefore, it is important to know your policy forward and […]
Can You Negotiate Your Business Insurance Policy?
Many business owners are under the impression that insurance companies offer business insurance policies on a take it or leave it basis. However, many business insurance policies have a number of coverage gaps and exclusions that could leave you unprotected when you need to make a claim. As the customer, you are not powerless in […]
Risk Management Alert: An Update on COVID-19 Insurance Litigation
As insurers continue to issue blanket denials for COVID-19 business interruption losses, courts nationwide are seeing an influx of cases seeking a review from the denials. A Bergen County Judge recently denied a Motion to Dismiss filed by an insurance company and rejected the insurer’s claim that COVID-related losses cannot qualify as covered losses. In Optical […]
Risk Management of Trust and Estates
Executors of Estates and Trust Fiduciaries responsible for real estate, valuable personality, art collections, and other investments or property under their control and management should regularly review insurance policies to ensure that no gaps or lapses in insurance exist to avoid risk and exposure in the event of a loss or a claim by a […]
Special Insurance Counsel – “Place to Worship Initiative” and Suits Against Municipalities on the Rise
There has been a significant increase in suits against Township Committees and Planning and Zoning Boards of Municipalities alleging their actions violate civil rights. As recently as June, 2018, the Attorney General of the United States, Jeff Sessions, approved a “Place to Worship Initiative” on protecting the ability of houses of worship and other religious […]
Homeowners Policies May Insure for Condo Assessments
Hurricane Irma hit the South Coast of Florida in 2017. Condominium Associations assessed unit owners to cover damages not covered by the Condominium’s insurance. Many condo owners didn’t know that their liability policies covered for Loss Assessments. Beware of insurers taking off-sets they’re not entitled to. Seek policyholder counsel if a dispute arises. – Michael […]