Insurance contracts are contracts of good faith. Usually, this means that both parties to the contract will deal with each other honestly and fairly, fulfilling their obligations under the contract. Occasionally, allegations of bad faith on the part of insurance companies arise. Courts have sometimes struggled with all to handle the full extent of damages in these circumstances.
As part of Preparing for Hurricane Season and other emergencies, we wanted to share with you some insight from a company that specializes in Emergency Communications. Trumpia, which earned a reputation as the most complete SMS solution including user-friendly user interface and API for mobile engagement, Smart Targeting, and advanced automation had these helpful tips to share.
Insurance lawsuits often turn on the definitions of words. This confusion results in extensive litigation over words that seem to have commonly understood meanings – words like loss or occurrence for example. With millions of dollars on the line, the exact definition of a single term within a policy can make or break a business. This highlights the need for companies to understand to the best of their ability what their insurance coverage provides and what it does, keeping a particular eye on what exclusions may apply.
In the wake of an aggressive hurricane season doing extensive damage to the southeast part of the United States, many homeowners are realizing that their basic homeowner’s policy does not cover flood damage. Instead, flood damage insurance in the United States has to be purchased separately. Most people who have flood insurance policies purchase their policies through the National Flood Insurance Program. That Program faces a number of challenges moving forward that may affect the affordability of its offerings.