News & Events

In June of 2019, the Florida Legislature passed a new law (Florida Statute, Section 624.1055) creating a right of contribution among liability insurers for defense costs associated with defending an insured shared between multiple insurance policies. The new law effectively overturned the longstanding precedent set by Argonaut Insurance v. Maryland Casualty, 372 So. 2d 960 (Fla. 3d DCA 1979), Continental Casualty Company v. United Pacific Insurance Company, 637 So. 2d 270 (Fla. 5th DCA 1994), and their subsequent progeny. Without a right of contribution, some insurers were incentivized to push back accepting liability for their policyholders in the hopes another of the insured’s policies would kick in and foot the bill. This law stood for many years.

Insurance companies that cover large and complex losses typically include subrogation clauses in their policies to protect their assets and their policyholders. Subrogation clauses allow insurers to pay policyholder claims while also taking legal action against an at-fault third party or parties that caused the loss. To ensure subrogation is successful, it is within an insurance company’s best interests to work with experienced legal counsel that handles both commercial and personal insurance matters including losses that range in size up to well over six figures. A legal team can be most impactful during subrogation action when brought into the claims process from the beginning instead of waiting weeks or months to be involved. Taking immediate action on matters involving subrogation will assist carriers in securing a significant recovery to offset policyholder losses.  

Insurance fraud investigations focus on attempts for individuals to benefit from deceitful insurance claims. It is illegal for a person to file a false or inflated claim. According to the Coalition Against Insurance Fraud, each year an estimated $80 million is paid out in fraudulent insurance claims. That amount of money changes the insurance market and causes insurance premiums to increase. There are many types of insurance fraud that are seen throughout the insurance industry affecting healthcare, disability, disaster, vehicle, homeowners, commercial insurance and more. Many insurance companies are forced to take extreme caution when paying out insurance claims to avoid being the victim of fraud. Insurers deserve to be protected from false claims which is why it is essential for all insurers to have an experienced legal team on their side to help evaluate potential fraud and misrepresentation in all areas of their insurance company. 

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.

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.