A recently enacted New Jersey law may impact New Jersey property insurers. The new law went into effect on March 20, 2024, requiring landlords and sellers of real estate to disclose flood risk information to prospective buyers and tenants. Under the law, both sellers of real property and landlords must disclose whether the property is …
New Jersey Enacts Property Flood Risk Disclosure Law Read More »
The integration of Artificial Intelligence (“AI”) systems has become a forefront of potential innovation and efficiency, for insurers and insureds alike. Recognizing that AI systems may permeate all stages of the insurance life cycle, the Connecticut Insurance Department has issued a detailed Bulletin providing a comprehensive overview of the regulatory framework and expectations for insurers’ …
The Appellate Court of Maryland held today that an anti-assignment clause applied to void a policyholder’s “broad assignment.” In the Matter of the Petition of Featherfall Restoration LLC, the policyholders executed an “Assignment of Claim” which purported to give broad rights under the Policy related to a roof damage claim. Specifically, the “Assignment of Claim” stated …
Property in 60 Seconds: Maryland Court Voids Post-Loss Assignment Read More »
