There’s a curious echoing through the hallways of the public adjusting industry. Private equity is knocking on the door. It is not just knocking politely but banging with a battering ram made of spreadsheets, valuations, and ambitious acquisition plans. I personally know of at least four private equity deals that have already gone through involving …
ACV, RCV, and GCOP: Why the Ninth Circuit’s Ruling Matters to Claims Professionals and Policyholders
This week’s ruling by the Ninth Circuit in Dow v. Safeco Insurance Company of America 1 serves as a timely reminder for claims professionals to revisit how to interpret actual cash value (ACV), replacement cost value (RCV), and general contractor overhead and profit (GCOP) under property insurance policies which define the terms. This case, which …
Accounting-Related Securities Suit Filings Increased, Settlement Values Decreased
The number of securities class action lawsuit filings involving accounting allegations increased slightly in 2024 compared to 2023, but the 2024 accounting-related filings remained below the long-term annual average number of such filings, according to the latest annual report from Cornerstone Research. The number of accounting-related settlements in 2024 remained steady compared to 2023, while
Every Claims Professional Must Read Putnam Now: Emotional Recovery After Wildfire Loss
Following the devastating 2025 Los Angeles wildfires, claims professionals across the country are once again on the media and actual frontlines of a crisis that extends far beyond burned structures and blackened landscapes. The physical damage is immense, but the emotional toll on survivors runs deeper and lasts longer than most realize. A recent must-read …
High Bar to Establish Section 11 Standing for Direct Listing Purchasers
In its June 2023 decision in the Slack case, the United States Supreme Court held that, order to establish standing, Section 11 plaintiffs must plead and prove that the shares they purchased in a direct listing offering are traceable to the allegedly misleading registration statement. However, as I noted at the time, while the
Employee Dishonesty Claims—How Far Back Does Coverage Extend?
When businesses think about protecting themselves from risk, they often focus on property damage, natural disasters, or customer lawsuits. However, one of the most damaging and often overlooked threats comes from within: employee theft. No matter the size of your business, a dishonest employee can cause massive financial harm—and many business owners find out too …
My Interview with Bad Faith Lawyer and Expert Witness Joe Lorenzo
I am returning to an old chestnut on my blog, a section which went dormant to some degree over the years, namely the section on interviews. They take a little time to do well, and podcasts (with their reliance on guests) seemed to have swallowed the field, so I stopped focusing on them. However, both
Your ERISA Watch – Week of April 16, 2025
After the flood of end-of-reporting-period decisions issued over the past several weeks, the tide has turned. This week we report on only eight cases. So relax and enjoy reading this week’s short but interesting selection of ERISA decisions, including one holding that 401(k) plan participants have adequately stated excessive fee claims, another reluctantly holding that
Absent Separate Covered Peril, Ensuing Loss is Not Applicable
The Eighth Circuit affirmed the district’s granting of summary judgment to the insurer, finding that the exclusion for faulty workmanship was applicable despite the ensuing loss provision. Bob Robinson Commercial Flooring Inc. v. RLI Ins. Co., 2025 U.S. App. LEXIS 6369 (8th Cir. March 19, 2025).
The general contractor hired Bob
California’s AB 597 Threatens to Limit Access to Public Adjusters After Disasters
Assembly Bill 597 is working its way through the California Legislature and could soon become law. If passed in its current form, the bill would severely restrict how public adjusters can charge their clients in the wake of catastrophic events—and it is policyholders who will pay the price, as many may lose access to adjusters …