Category: Insurance Law

Under recent federal law, Medicare now has the power to directly negotiate pricing with major pharmaceutical companies. The Inflation Reduction Act (IRA) empowered the Centers for Medicare and Medicaid Services (CMS) to negotiate the prices for certain prescription drugs. The intent was to secure cost savings for the government and ensure seniors’ access to some …

Life insurance is a critical part of financial planning that offers financial protection for your loved ones in the event of your death. However, with various policies available and important considerations to keep in mind, understanding how life insurance works and choosing the right policy can be overwhelming. At Herold Law, P.A., our New Jersey …

Financial considerations may strongly influence your decision-making when faced with an insurance coverage dispute. It is essential to assess each case objectively to optimize your financial recovery. Typically, you must choose between settling out of court or proceeding to trial, where a judge or jury will render a decision. Below, we explore the advantages and …

Directors and officers liability insurance, commonly known as D&O insurance, is an important safeguard for individuals who serve in leadership roles within a corporation. This insurance protects directors and officers from personal liability if they are sued for decisions made within their official capacity. Without D&O insurance, these individuals may be financially responsible for settlements …

States are bowing to home insurers’ demands for insurance rate increases and lesser consumer protections to prevent residents from losing coverage. In the past year, one state stopped vetoing rate requests, while others allowed insurers to reduce storm coverage or expand the types of associated costs when setting rates. A recent Wall Street Journal analysis …

Private information belonging to nearly 73 million people was recently discovered for sale on the dark web. They all had one very important aspect in common—they were all customers of AT&T, one of the largest telecommunications companies in the United States. Exposed data included personal identification numbers (PIN) and Social Security numbers, significantly increasing the …

If your home or business has been damaged in a natural disaster, you may feel thankful that you purchased insurance beforehand.  However, you may find that your insurance may not cover your losses.  The fine language of exclusions and riders often determines the actual coverage of the insurance policy.   An insurance policy may cover natural …

Understanding the extent of your homeowners’ insurance coverage is crucial.  This knowledge can guide you in purchasing the right coverage, potentially saving you from unexpected surprises in the future.  However, it is worth noting that dealing with an insurance company over a large claim can still present challenges. What Is Covered in Your Policy? In …

The New Jersey Appellate Division again agrees that ambiguous insurance policy language favors the Policyholder in recent decisions: In Motil v. Wausau Underwriters Ins. Co., (1471442), the Court held that declaration page language creates a reasonable expectation of coverage. In Romhen, et al. v. Franklin Mutual Insurance, Inc. (WL 1776130), the Court determined that policy limitation provisions extend …