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: Recoverable vs. Non-Recoverable Differences
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 Hurricane Ida Mediation Program – Bulletin 2021-08
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 Breaking Down the July 9, 2021 Executive Order for LA 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 Distinguishing Common vs. Limited Common Elements: Why It Matters
In order for a condominium Association, which include all units owners, to operate efficiently, its members must pay their dues timely. If you are a property manager or in charge of a condominium association, then you understand the challenges of enforcing and collecting monthly dues and assessments. The question that is generally posed, is whether… Continue reading Can a Condo Association Cut Utilities for Non-Paying Owners?
Many business persons have ownership interest in many different businesses. Business persons take calculated risk in order to make a financial gain. it is important that those business persons understand what’s at risk when doing so. There is a common misconception that if an individual is personally liable for a debt that his ownership interest… Continue reading Can a creditor seize your ownership interest in an LLC?
Homeowners associations and condominium associations are generally a great benefit to those owning property and residing therein. Association documents include rules which are drafted with the intent to keep peace and harmony amongst owners. Unfortunately, all it takes is one nuisance owner or tenant to disrupt that peace and harmony. The question is often posed,… Continue reading Can a homeowners association evict a lessee?
Often times business owners incur emotional stress and severe inconvenience which can lead to the incurrence of actual damages. Louisiana law views a business, such as an LLC, separate and apart from an individual. For obvious reasons, a business is incapable of having its emotions or stress levels affected by a severe inconvenience. Louisiana Jurisprudence… Continue reading Can businesses claim damages for inconvenience or mental distress?