Curtis Goldsborough’s Post

I am amazed that the focus is not on the challenge that the insurance industry faces. Raising prices is the simplest "innovation". Shouldnt the focus be on "more innovative" innovation to reduce the impact on price? Are we sure there is no wiggle room? Can we increase focus on reducing loss costs and expenses through shared prevention and recovery infrastructure to reduce the impact on prices? Why resort to the simplest "innovation" without trying these?

I'm all over this. Consumer protection groups in insurance are NOT protecting consumers. They are making the market MORE volatile. We have now seen this in CA and FL. By fighting market pricing, the inevitable happens, prices skyrocket as insurance capacity flees the state(s). We get rate increases in the double and triple digits instead of smoother pricing if there wasn't so much vocal and political pressure to keep rates down. Consumer protection groups that advocate in insurance are a net negative to consumers in the long run

When I graduated law school in 2018, I knew I wanted to be on the side of David versus the Goliaths of the world. That's why my first job out of law school was with (Louisiana Association for Justice (LAJ)), an incredible organization that continues to fight the misinformation spewed by big insurance companies on a day-to-day basis. During my time with the association, I witnessed the incredible work Louisiana trial lawyers do on behalf of their clients every single day. I was also fortunate to work with passionate colleagues who made it a mission to uphold the integrity of our civil justice system. LAJ partners with organizations and lawmakers in a way that encourages the people of Louisiana to think about the ways in which they interact with the insurance industry, as well as the non-existent correlation between litigation and insurance rates. Critical thinking on this issue is so important. For decades, the insurance industry has paid massive sums of money to convince Louisiana residents (and Americans in general) that trial lawyers and their clients are to blame for high insurance rates across the board. This could not be farther from the truth. For example, the average car insurance rate in Louisiana is $3,265 per year (114% more than the U.S. average). In 2020, the average auto insurance rate in Louisiana was $2,379. Don't believe me? Check out The Zebra, a great resource on this. But here's why this matters: In 2020, the Louisiana legislature proposed and passed a series of massive tort reform bills ("The Civil Justice Reform Act of 2020") claiming that doing so would reduce auto insurance rates. The jury trial threshold was drastically reduced and the collateral source rule was severely limited. All of this was done with the promise of lower auto insurance rates; however, the numbers don't lie. Our rates are only increasing, and it's abundantly clear that trial lawyers and the people they serve have nothing to do with insurance rates. As I sit here today, I've been fortunate to shift gears and join this side of the profession and fight for people who truly need help. I could not have picked a better place to do that than where I am now. However, during this legislative session, carefully consider the below TLF post and everything else that is out there. Get engaged and read proposed bills online here: https://lnkd.in/g2X3RZ-w. You can also view upcoming hearings on the legislative website as well. #Louisianalegislature #triallawyers #readthebills #2024legislativesession #louisiana

St. Paul Fire and Marine Ins. Co. v. Getty Properties Corp.: The Second Department held that New York law applied to a dispute concerning MTBE groundwater contamination claims in several states, and not the laws of the states where the underlying actions originated. For liability policies covering risks in multiple states, the insured’s domicile (here, New York) serves “as a proxy for the principal location of the insured risk.” No other state had a more significant relationship to the dispute or compelling public policy interests warranting deviation from New York law. Conversely, the insurers “had a significant presence in New York, and all of the applicable policies were issued and delivered to the defendant in New York.” Additionally, state-specific policy endorsements did not indicate the parties expected multiple states' laws to apply. Finally, applying New York law to the entire dispute promoted “certainty, predictability and uniformity of result.” *Note – Chaffetz Lindsey LLP was Counsel to National Union Fire Insurance Company of Pittsburgh, Pa., AIU Insurance Company, Illinois National Insurance Company, and American Home Assurance Company. 2024 WL 3168245 --- New York is a commercial and insurance hub, and the decisions of its appellate courts shape the national and global insurance industry. We created NYAIR to stay abreast of breaking developments on complex insurance disputes and to share that information with our industry-leading clients and colleagues. Check it out here: https://lnkd.in/ePk33bvW #insurance #reinsurance #nyappellateinsurancereport #nyinsurancedecision #nyinsurancedecisions

Negotiating with insurance adjusters can be challenging, especially when it comes to delivery-related injury claims. At The Guzman Firm, PLLC, we help Florida clients navigate these negotiations to secure fair compensation. If you’re facing an insurance dispute, contact us today for guidance. #InsuranceClaims #FloridaLaw #InjuryClaims #LegalHelp #FairCompensation

In his latest commentary on Title Insurance, managing partner David Morin discusses the police powers exclusion. Read the full article below. https://lnkd.in/gkYb5W5y

Discover the must-read article for every public adjuster - as relevant today as when published 73 years ago! Will Goodman discusses public relations within the insurance industry, property insurance claims, why it is important for policyholders to seek professional help and much more! Click the link below for the full story: https://ow.ly/pEBY50SyByu

Discover the must-read article for every public adjuster - as relevant today as when published 73 years ago! Will Goodman discusses public relations within the insurance industry, property insurance claims, why it is important for policyholders to seek professional help and much more! Click the link below for the full story: https://ow.ly/wGak50SyByv

Check out this New York Law360 Pulse article highlighting the addition of Scott Greenspan as a Member of Sills Cummis & Gross, Co-Chair of the Firm’s Insurance Practice Group and Chair of the Firm’s New York Insurance Practice Group. #Welcome #LawyerstoBusinessandIndustry

For policyholders facing a denied insurance claim, the question may arise: Should I hire an attorney to help with my denied insurance claim? Read our latest blog to learn about how to analyze your case: https://bit.ly/45kuCml