While the frequency of Bankruptcy filings is unpredictable year over year, their presence is certain when pursuing subrogation claims. Now, throw into the mix an unsteady economy and the threat of a Defendant filing for bankruptcy is present.
Take Caution When Fronting At Fault Party’s Carrier Limit
We have all been there before. Your insured is injured and the at fault party is underinsured. The at fault party’s carrier offers policy limits but your company elects to front the limits and retain subrogation rights. The two-year bodily injury statute of limitations is approaching and your adjuster has...
Ohio Landlord-Tenant Law
The Landlord-Tenant Law applies to all residential properties and not commercial leases in the state of Ohio. As such, none of the rights outlined in 5321.04 for Landlord Obligations and 5321.05 for Tenant Obligations may be taken away by any written or oral agreement.
Product Recalls
It may not always be obvious, but there is a cause for every loss. Property losses resulting from water and fire can be the result of a defective product. This is why we believe it is important to inform you of recent product recalls.
Investigating a Sump Pump Failure
A picture truly is worth a thousand words. A thoroughly documented sump pump file can also be the difference in thousands of dollars in recovery. When in doubt, more is better. These suggestions will provide the subrogation professional, expert, and counsel with tools to prepare the file and maximize your...
Condo Property Damage Claim Issues in Chicago, Illinois
In Chicago, we often find property loss claims that occur at condominium units. Aside from general issues that come with all property claims, such as cause and origin of the loss and actual damages incurred, two issues should be investigated from the outset.
Liquidated Damages and Limitation of Liability Clauses
Liquidated damages clauses and limitation of liability clauses are common in contracts but have different roles. Liquidated damages clauses try to fix, in advance, the amount of reasonable compensation for actual damages. Limitation of liability clauses restrict the amount of compensation available, regardless of the damages suffered. While the provisions both...
Product Recalls
More and more, we are seeing property damage caused by water and fire as a direct result of a defective product. Therefore, it is imperative we bring to your attention certain products that help establish a product as being defective or of issue.
Liability of Property Owners and Trees
Property owners in rural areas have a low threshold to preclude liability for damages. Generally, landowners in rural areas do not have a duty to inspect and remove their dead or defective trees that hang over highways or roadways.
Construction Instruction: A Look at the Building Industry
Growth in nonresidential construction is projected at more than 7.4% in 2016, according to the industry trade group Associated Builders and Contractors of America. Four key areas of growth stand out: large commercial residential buildings, infrastructure projects, renewable energy, and transformation of manufacturing or other commercial facilities into new uses....