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Insurance Agents – Are You Being Sued By A Client For A Denied Claim? Here’s What To Do
It's the fear of most insurance agents and brokers - being sued by an insured because a claim is being denied by the insurance carrier. You, as the insurance agent, have exhausted your negotiations with the carrier on behalf of your insured. The frustration level for...
Know Your Rights When An Insurance Carrier Denied Your Claim
An insurance policy is a contract between the insurance carrier who issues the policy and the insured who buys the policy. Most individuals or business pay for the policies year after year and assume that when there is a need to file a claim - the insurance carrier...
What Is Earnest Money?
In a real estate deal, earnest money is deposited by a buyer within the first few days of a real estate contract being executed. It expresses the buyer's "earnest intent" to buy a property. The amount of earnest money that a buyer puts down varies, but...
Professional Soccer: Who’s the Boss?
When it comes to the oversight of football/soccer players, people often wonder who is in charge? Who is the boss? And no, we're not talking about the hit TV show from back in the 1980's. We're talking about who has the authority to make rules regarding soccer players...
What Is A Closing Cost Credit?
If you are buying a home, you might request that the seller provide you with a credit at closing because your home inspector discovered certain defects in the home that require repair or immediate attention. Buyers generally want to receive as large a closing cost...
Thinking Of Making An Insurance Claim Under Your Business Owner’s Policy? Make Sure You Know What Thai Insurance Policy Covers.
A Business Owner's Policy ("BOP") is a stand-alone package insurance policy designed to meet the property and casualty needs of small to medium sized businesses that qualify for its very reasonably priced premium. Risks are generally limited to 35,000 SQF of space and...
Thinking Of Making A Home Owner’s Insurance Claim? Make Sure You Know What Your Home Insurance Policy Covers.
Most people have a hard time understanding their home insurance policy. Generally, there are 2 sections that are automatically included. Section I is generally titled "Property" and provides certain coverages on the property, contents and loss of use of the property....
What Is The Biometric Information Privacy Act?
The Biometric Information Privacy Act, 740 ILCS 14/1 et seq. ("BIPA"), approved on October 3, 2008, was the first law in the nation to address the collection and storage of biometric data. It provides requirements for private entities that collect, retain, and...
Are Oral Contracts Enforceable?
Not every contract has to be in writing. In some instances, oral contracts are enforceable. The most basic requirement of every contract - written or oral - is that the parties must be competent to form a contract. In Illinois, a presumption exists that a...
Can I Cancel My Real Estate Contract If I Find Issues In The Home After The Contract Is Signed?
You finally found a home that you love and a seller that agreed to sell it to you. You sign a contract with the seller. But, when you conduct your home inspection, the home has issues that you did not see or know of when you made the offer. Can you get out of the...
DO I NEED TO PAY TAXES ON A PERSONAL INJURY SETTLEMENT?
The Internal Revenue Code generally provides that all income, from whatever sourcce derived, is subjet to federal income taxes. But, the Code also defines certain types of income as being excluded from taxes, and provides numerous deductions and credits to reduce the...
Can I Sue My Insurance Company For Not Handling My Claim Properly?
An insurance policy is a contract between an insurance company and an insured. An insured who believes that the insurance company has failed to fulfill its obligations under the insurance contract has certain remedies available to them. First, the insurance company...