Ensuring Appropriate Insurance Coverage for Real Estate Investments

Posted in Legal Alerts on August 16, 2021

Investing in real estate can be an exciting, yet risky, venture that will require hard work on your part to protect your new assets. There are specific factors and liabilities to consider when choosing insurance coverage for your properties. Getting the right insurance policies ensures you and your investments are protected even when the unexpected occurs. The best way to ensure you have the appropriate insurance coverage is to cover all of your bases with basic protections like standard landlord insurance and more specific policies that cover personal liability and property damage. Even vacant properties must have the proper insurance coverage. Sometimes disaster strikes when no one is in the property, such as having a fire break out or a burst pipe that floods the area. These disasters could lead to serious, unmitigated damage. If renovating or improving a property, there are even more insurance policies to consider to cover your investment, including builder’s risk insurance and installation insurance. While your real estate investments may provide significant benefits, they can only do so safely when covered by the appropriate insurance policies.

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Summer e-Newsletter 2021

Posted in Legal Alerts, Newsletters - 2021 on August 11, 2021

We are pleased to announce that our 2021 Summer e-Newsletter has been published. Please take a few minutes to read it as it contains information on new case law updates, including topics on liability, workers’ compensation, first party property and coverage, trucking, medical malpractice, and many more. The e-Newsletter also includes firm successes secured by Conroy Simberg, additional news and notes, and firm announcements.

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How Senate Bill 76 Protects the Insurance Industry from Excessive Awards

Posted in Legal Alerts on August 10, 2021

The Florida property insurance market is teetering on the edge of collapse just as the state is starting to recover from the COVID-19 pandemic. After years of increased litigation and fraudulent claims, the majority of insurance companies in the state have had to raise their rates to consumers, tighten up their underwriting guidelines, deny coverage for new applicants, and stop renewal of non-profitable businesses just to stay afloat. There has been an increase in consumers and businesses seeking the state’s property insurance, Citizens, as its rates have only increased slightly as a result of statutory requirements. Even without a major storm in 2020, insurers lost $1.5 billion from water damage and roof fraud as well as costly litigation awards. Insurance companies are now feeling hopeful as Bill 76, recently passed by the Florida Legislature on April 30, 2021, was signed by Governor Ron DeSantis.

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Exceptions to Florida Workers’ Compensation Immunity

Posted in Legal Alerts on July 28, 2021

Workplace accidents can result in serious injuries or death. Workers’ compensation insurance is required by Florida law for all employers who have four or more employees working for their company. Construction companies in Florida are required to provide this insurance for every employee, no matter how many employees are currently employed. This coverage is designed to provide financial compensation that covers injuries suffered by an employee while on the job. The compensation may cover medical costs, lost wages, other recovery-related costs, as well as funeral and burial costs in the tragic event of an employee's death at work. Employers who abide by state law and acquire either private or state workers’ compensation insurance, or self-insure, are given strong protection against their employees suing them and the company itself having to cover expenses from workplace injuries. This immunity to civil lawsuits has incredibly few exceptions, but when met, those exceptions can disrupt the course of business and cause serious harm to the company. 

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Insurance Coverage Representation in Georgia

Posted in Legal Alerts on July 23, 2021

Insurers must be consistently aware of their loss and expense ratios while fulfilling the needs of their policyholders and meeting all legal requirements as an insurance company. Managing risk while remaining profitable can be difficult and insurers must be proactive in managing the cost of each litigated claim. This means acquiring and retaining experienced insurance coverage representation. For more than 40 years, Conroy Simberg has provided comprehensive representation to insurers across the nation, including in the state of Georgia. We are prepared to represent insurers in coverage disputes through every step of the claims and legal process, including avoiding unnecessary litigation whenever possible. We are familiar with the extreme pressures that our clients are under and are here to help provide reassurance through our knowledgeable and experienced legal advice and representation in coverage matters. 

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