Contractors in Louisiana are required to carry general liability insurance. Those insurance requirements, however, likely provide less coverage than you might expect. When a contractor finds themself in a scenario where they need to make a claim, they do so expecting their insurance company to handle the defense and payment of any damages. Unfortunately, in… Continue reading Contractors: Did you receive a Reservation of Rights Letter (ROR): What is it and why was it sent?
If you’ve been in a car accident, in addition to potential injuries, your car is damaged. It goes without saying that in the secondary market, buyers pay less for cars previously involved in accidents. Stated generally, Louisiana car insurance can be categorized in 2 areas: (1) bodily injury and (3) property damage. While bodily injury… Continue reading Diminished Property Value: Do I Have a Claim?
If you, a family member or friend are still dealing with unresolved claims from Hurricane Ida, we can help. There are currently two (2) programs in place to help quickly resolve all remaining Hurricane Ida claims. The two programs are below: Claims with Less Than $50,000.00 In Disputed Damages The Louisiana Department of Insurance has… Continue reading Options to Quickly Resolve Your Hurricane Ida Claim
When an entrepreneur in Louisiana seeks to start a business, registering a new limited liability company or “LLC” is typically the first item on his to-do list. The purpose of this action is in the name. It limits the individual’s liability. The laws governing Louisiana limited liability companies further this notion by providing: No Member,… Continue reading LEGAL UPDATE: Louisiana 3rd Circuit Holds That Sole Member of LLC Could Be Individually Liable for LLC’s Breach of Contract
As we’ve previously discussed, your homeowner’s insurance policy is a contract between you and your insurance company. In the event of a covered cause of loss, your insurance company agrees to pay you for that loss. However, there are generally two types of damage valuations: Actual Cash Value and Replacement Cost Value. This distinction is… Continue reading Depreciation: Why is it so much? Recoverable Depreciation v. Non-Recoverable Depreciation
In response to widespread impacts on the State of Louisiana by Hurricane Ida, the Louisiana Department of Insurance issued Bulletin 2021-08 on October 15, 2021. The purpose of Bulletin 2021-08 is to establish a mediation program for all insurers and their policyholders in an effort to resolve Hurricane Ida claims as efficiently and quickly as… Continue reading Bulletin 2021-08: Hurricane Ida Voluntary Mediation Program
Hurricane Ida has left parts of Louisiana in a state of catastrophe. Power outages and property damage are widespread throughout the State. Over a million Louisianans were affected by Ida, and more than a week after the storm made landfall, hundreds of thousands were without power. Insurance companies are quite busy right now, and unfortunately,… Continue reading The Truth About How Insurance Companies Value Your Loss
What Homeowners Coverages are Available for Hurricane Ida? In Louisiana, your homeowner’s insurance policy does not cover damages caused by flooding. IN regards to hurricane damages, most homeowner’s policies provide four types of coverage: (A) dwelling, (B) other structures, (C) personal property, and (D) loss of use/additional living expenses. Generally, dwelling coverage is limited to… Continue reading What Does My Homeowner’s Insurance Policy Cover?
Was Your Hurricane Ida Insurance Claim Denied? For some homeowners in Louisiana, the last thing they need is their own insurance company not treating them fairly. Responses vary from insurance companies but in short, they will either deny your claim in full or part, not cover the entirety of the scope of damages and/or not… Continue reading Why Was My Homeowner’s Insurance Claim Denied?
If your house was damaged by Hurricane Ida, the tips below will help you better handle your claim. Act Quickly – If your home or business suffered damages due to Hurricane Ida, make your claim ASAP. Understand that insurance companies will be flooded by a deluge of phone calls and emails and only have… Continue reading Hurricane Ida: Tips for Handling Your Claim
With the business world becoming more diverse and unpredictable, employees are changing jobs more than ever. Naturally, non-compete agreements are a regular topic of discussion amongst business-conscious friends and family. According to the Bureau of Labor Statistics, the average person changes jobs 12 times in their lifetime and the average employee only stays with their… Continue reading Legal Update: Breaking Down the July 9, 2021 White House Executive Order for Louisiana Businesses
First, it is important to understand how the Louisiana Condominium Act defines condominium terms. For example, the term “Condominium” is defined as the property regime under which portions of immovable property are subject to individual ownership and the remainder thereof is owned in indivision by such unit owners. A “unit” is defined as part of… Continue reading What is the difference between a common element and a limited common element, and why does it matter?