Schwartz, Conroy, & Hack PC

How do labor costs factor into your insurance depreciation calculations?

When determining ACV coverage, courts have increasingly weighed whether labor costs can be included in depreciation calculations.

Make sure you're getting the most accurate valuation for your covered losses.

Learn more:

Can Labor Costs Be Depreciated When Calculating Actual Cash Value of a Covered Loss in Property Insurance? Commercial property insurance will reimburse you for direct physical loss to covered business property caused by a covered peril within your policy period. There are two basic types of coverage for property damage: replacement cost coverage and actual cash value, or ACV, coverage.

Did you know that there are distinct differences between General Liability and Professional Liability insurance?

Understanding your insurance policy is crucial to protecting your business. Make sure you're adequately covered and nothing slips through the cracks.

Schwartz Conroy & Hack PC is here to help make insurance companies keep their promises!

https://schlawpc.com/blog/the-difference-between-general-liability-and-professional-liability-insurance/

The Difference Between General Liability and Professional Liability Insurance Your commercial general liability (CGL) insurance policy is the foundation for your company’s insurance program.

Insurers play a crucial role in protecting the interests of the insured in NY, particularly when it comes to settlements and bad faith practices.

Learn about the duty of insurers, why settlements are often more beneficial than going to trial, and the importance of being aware of New York's bad faith laws.

Evan Schwartz's recent blog post outlines the legal rights you hold against insurers for their bad faith actions in the context of settlements.

Read more:

Bad Faith and Settlements in New York: Your Insurer Must Protect Your Interests When your business is sued by a third party, your liability insurance company has a good-faith obligation to honor the promises it made to you in your insurance contract. This includes defending you in court and indemnifying you for any judgments or settlements for covered claims, up to the policy l...

Do you own a business and have EPLI insurance?

There are common exclusions in Employment Practices Liability Insurance (EPLI) that every business owner needs to be aware of.

Don't be caught off guard by the limitations of your policy.

Tap into our expertise on EPLI and arm your business against complex lawsuits. Visit our recent blog post to gain insights:

What Are Common Exclusions in EPLI Insurance? Employment practices liability insurance (EPLI) is a necessary product for many businesses in today’s litigious world. EPLI protects your business from various kinds of lawsuits brought by current, former or prospective employees.

What are the different types of reinsurance?

Reinsurance is an insurance product for insurance companies, enabling them to transfer some of their risks to a reinsurance company.

By offloading some risks, an insurance company can take on more business, diversify, and protect itself from unusual events like a major hurricane, which might threaten its solvency.

Learn more about the different types of reinsurance and their benefits at the blog below:

What are the different types of reinsurance? Reinsurance is an insurance product for insurance companies, enabling them to transfer some of their risks to a reinsurance company.

Has your business insurance claim been denied?

It's not over yet! There are steps you can take to challenge the denial and secure what's rightfully yours. From appealing to the insurer, to calling in expert lawyers, and even considering litigation.

Check out our latest blog post to learn your options and remember, at Schwartz Conroy & Hack, we’re here to assist you in resolving your disputes with your insurance company.

What to Do When Your Business Insurance Claim Gets Denied If you are like most businesses, you pay a considerable sum for insurance coverage. In return, when you submit a claim for covered losses, you expect the insurance company to reimburse you.

Ever wondered about the legal battleground between insurance powerhouses and healthcare providers?

Discover a recent case study where a pivot was made in favor of the underdogs. The Third Circuit ruled that a certain insurance company must arbitrate its fraud and racketeering claims against three New Jersey chiropractors it was suing.

This precedent-setting case opens up a new aspect of arbitration in cases where fraud claims are concerned.

A must-read for anyone in the medical or legal field. Find the full story here:

GEICO Forced to Arbitrate Fraud Claims Against 3 NJ Chiropractors In a precedent-setting case, the Third Circuit held that GEICO must arbitrate claims against three New Jersey chiropractors that it was suing for fraud and racketeering.

Looking for insights on the complexities of "Other Insurance" clauses in insurance contracts?

Check out Evan Schwartz's latest blog post that covers how these clauses limit liability, the role of courts in determining insurer obligations, and more.

Stay informed and empowered! Visit the link below:
https://schlawpc.com/insurance-law/other-insurance-clauses-in-insurance-contracts/

“Other Insurance” Clauses in Insurance Contracts Placing “other insurance” clauses in insurance contracts is one of many ways that insurers look to limit their liability.

Do you know about the important Ninth Circuit ruling that gives medical providers the power to sue under ERISA, even if they're not plan participants or beneficiaries?

This game-changing judgment can protect providers and patients from non-payment of benefits.

Learn more about this in the case study below:

https://schlawpc.com/blog/medical-providers-have-standing-to-sue-under-erisa-in-ninth-circuit/

Medical Providers Have Standing to Sue under ERISA in Ninth Circuit The Ninth Circuit recently held that medical providers have standing to sue under the Employment Retirement Income Security Act of 1974 (ERISA)

Need help figuring out if your liability insurance claims resulted from a single or multiple occurrences?

It can be a challenge to understand the intricacies of how these distinctions are made, focusing on the legal principles and criteria that courts apply during evaluation.

At Schwartz, Conroy & Hack, our priority is to provide clarity and support, ensuring you are well-informed to protect your interests against insurance disputes.

Visit our site to learn more:

Determining if Liability Insurance Claims Resulted from a Single or Multiple Occurrences Commercial general liability (CGL) insurance protects your business from claims of bodily injury and property damage that are brought by third parties. CGL policies are almost always “occurrence-based” policies, which means they provide coverage for injury or property damage resulting from an ev...

Join us on the Insurance Lawyer Podcast as we welcome Joshua Soloway, a distinguished attorney and entrepreneur, in Episode 14: "A Perspective on Business Resilience and Insurance Strategy."

In this episode, Josh explores risk mitigation and how insurance levels the playing field for small companies against larger competitors. With his deep knowledge and experience, he explains how strong insurance strategies are not just a safety net but also a key to sustainable growth and resilience.

Listen now on your favorite podcast platform:
https://schlawpc.com/podcast/a-perspective-on-business-resilience-and-insurance-strategy/

Understanding 'Claims Made' policies can often seem daunting, but being informed is key to protecting your business assets and interests effectively.

Having the right resources to demystify these policies and elaborate on the crucial aspect of the extended reporting period can be a game-changer during the claim process.

Don't leave your business unprotected; learn how to make the most of your policy today. Visit our blog for a detailed guide 👉

Claims Made Policies & The Extended Reporting Period Liability insurance policies allow companies to protect themselves from various risks. Some liability policies are “occurrence-based,” while others are considered “claims-made” policies. Claims-made policies may have an extended reporting period (ERP), which provides some protection after th...

Did you know that as an employer, you could safeguard your business from discrimination claims?

Explore our latest blog post to understand how Employment Practices Liability Insurance (EPLI) can protect your business.

A standalone policy or an endorsement on your existing business owner’s policy could be your shield against potential claims. Remember, protecting your business is as important as growing it.

Check out the link below for in-depth knowledge:

Are Discrimination Claims Covered under Your Business Insurance? Discrimination lawsuits against employers are increasingly common in the modern workplace. The U.S. Equal Employment Opportunity Commission (EEOC)reported 81,055 new workplace discrimination charges in FY 2023, up 10.3% from the previous year.

Did you know that failing to properly notify your business insurer of a claim could have devastating consequences for your business?

Insurance contracts often require prompt notice of a claim not just for record keeping, but to allow insurers to conduct investigations while the details are still fresh and witnesses are still available.

Make sure you're aware of how to operate within the scope of your policy coverage.

Visit our blog post for more details:

What Are the Consequences of Failing to Properly Notify Your Business Insurer of a Claim? Insurance contracts generally require that policyholders provide the insurer with proper notice of a claim and, in many cases, an occurrence that may lead to a claim. Insurance companies insist on notice provisions to protect their interests.

Our latest episode, "Legal Defenders and Advocacy for Clients with Mental Disabilities," is live now!

Join us as we delve deep into the realm of criminal defense with our accomplished guest, Elizabeth Kelley.

This episode promises to leave you with a lot to think about, including that lower verdicts in personal injury cases are leading to a greater emphasis on mediation and arbitration instead of court trials.

Head to our website or your favorite streaming platform and give it a listen today: https://schlawpc.com/podcast/legal-defenders-and-advocacy-for-clients-with-mental-disabilities/.

Do you know about the common exclusions in Commercial General Liability (CGL) Insurance Policies?

While CGL insurance protects against a broad range of potential claims, it's crucial to know that this insurance type has significant exclusions.

Curious to learn more about these exclusions and what they mean for your business? Check out our latest blog post:

https://schlawpc.com/blog/common-exclusions-in-commercial-general-liability-cgl-insurance-policies/

Common Exclusions in Commercial General Liability (CGL) Insurance Policies Commercial general liability (CGL) insurance protects against a broad range of potential claims from third parties that could devastate your business. But while CGL policies cover defense costs and losses for many categories of claims, this type of insurance has significant exclusions.

Is your business protected?

Liability insurance policies have got you covered against claims from third parties. But did you know that your insurer's duty goes beyond compensation for losses?

They are also tasked with defending you! The duty to defend is broader, but it's not limitless.

To understand the full extent of your business insurer's duty to defend, check out our latest blog post 👇

What Are the Limits to a Business Insurer’s Duty to Defend You? Liability insurance policies protect your business against claims brought against you by third parties. Your insurer has a duty both to defend you against claims and to compensate you for losses covered under the policy.

🎙️Evan Schwartz, host of "The Insurance Lawyer" podcast, recently sat down with Richard A. Dubi, the esteemed founder of Dubi Law, to discuss all things Personal Injury.

With over 34 years of experience, Richard shed light on the current trends in Personal Injury Practice, discussing the increased use of social media in investigations, the emotional components being attached to claims, and the rise of mediations and arbitrations due to lower verdicts.

🎧 Listen to this insightful episode now on your favorite streaming platform:
https://schlawpc.com/podcast/episode-12-recent-trends-and-common-insurance-coverage-problems-in-personal-injury/

Did you know that many property policies don't cover damage caused by or resulting from mold?

Even if mold is the clear and proximate cause of property damage, you'll find no coverage under many usual commercial property insurance policies.

Find out more about the "mold exclusion" and what it means for your business. Don't let surprise exclusions catch you off guard.

Read the full blog post here: ➡️

The Mold Exclusion and Your Commercial Property Insurance A commercial property insurance policy protects against direct physical loss to your company’s property that results from a covered peril. While some types of property policies protect against a specific named peril, many are termed “all risk” policies.