underinsurance News

Property Insurer Liable for Shortfall in Policy Benefits Promised by Agent, Due to Unexplained Effect of Coinsurance Clause

A Florida state Court of Appeal reversed the dismissal of a claim for negligent procurement of property insurance, because, when placing the coverage, the insurer’s agent failed to account for a reduction in insurance loss proceeds caused by operation of …

California Insurance Commissioner’s Authority to Regulate Insurers’ Homeowners RC Estimates

On January 23, 2017, the California Supreme Court ruled that the insurance Commissioner of that state was given the power by the legislature to specify what factors must be covered by replacement cost estimate tools used by insurers in connection …