Zalma on Insurance

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Read the full article and see the video at https://www.linkedin.com/…/hallelujah-texas-allows-fraud-ex… and at https://zalma.com/blog plus more than 3150 posts. The eight-corners rule of insurance contract interpretation about duty  to defend directs Texas courts to determine a liability insurer’s duty  to defend its insured based on: the pleadings against the insured and   &nb...

A Proposal to Create a Staff of Insurance Claims Professionals See the full video at https://youtu.be/1nVg3ZqtDpA To avoid claims of breach of contract, bad faith, punitive damages,  unresolved losses, and to make a profit, insurers must maintain a claims  staff dedicated to excellence in claims handling. That means they  recognize that they are obligated to assist the policyholder...

A Video Explaining Why an Agent is Not an Insurer Private Limitation of Action Provision is Enforceable The video is available at https://youtu.be/RvFP2j0Jpp4 Frankie and Michael Cabral sued for breach of contract, insurance bad  faith, conversion, and negligence after defendant Public Storage  disposed of personal belongings that plaintiffs had placed in a leased  storage unit. Pla...

Insurance Conditions Precedent Video available at https://youtu.be/I1ByB3cE34E.  When used in contract law, the word condition refers  to an event, the occurrence or non-concurrence of which alters the  previously existing relations of the parties by creating or  extinguishing a legal duty. A condition is different from a promise or  warranty. When used in an insurance pol...

Marine Insurers Invented  The Warranty In An Insurance Policy The video is available at Zalma on Insurance on YouTube at https://youtu.be/Vjb1PKEs3K8 Marine insurers invented the warranty in an insurance policy. So, it is fitting that a boat was involved in Lloyd’s of London v. Pagan-Sanchez, 539 F.3d 19 (1st Cir. 2008), in which the First Circuit Court of Appeal enforced a warranty and depri...

Surplus Line Broker Not an Insurer After her house burned to the ground and her insurer rescinded the  policy Suzan E. Taylor sued the insurer and the surplus line broker who  obtained insurance for her from certain underwriters at Lloyd’s, London.  The broker moved to dismiss Taylor’s action in Hiscox Dedicated  Corporate Member Limited v. Suzan E. Taylor  v.  The So...

The market at Lloyd’s is a place where groups of individuals and corporations can transact insurance. After hundreds of years it has developed a strict method of placing insurance. The Corporation of Lloyd’s never sells insurance itself and is not at risk on the insurance sold on the floor at Lloyd’s. Rather, the underwriter members subscribe to cover all or part of a proposed placement of insuran...

The History of Insurance The essence of insurance is the spreading of risk from one person to many. As early as 1200 BC, Phoenician merchants began transferring some of their risk to the backers of specific voyages, whereby the backers would profit if the voyage was successful, but would lose their investment if the cargo was lost at sea, either from natural disasters or from pirates. In exchange...