INSURANCE LAW
Most persons are familiar
with the concept of insurance even if they are not accustomed to using the
particular terms common to most forms of insurance. The event insured
against, such as injury, death, or property damage, is called the "risk." The
charge for the insurance, usually paid by the insured, is called the "premium." The
insurance company first determines the amount of premium necessary by considering
the percentages and magnitude of the risk on a general basis. These calculations
are done by an "actuary." Determining the risk for the particular insured
is the job of the "underwriter." The policies are typically sold by the "agent," and
the moneys which the insurance company keeps on hand to pay losses is called
the "reserve."
Everyone comes into contact with several
forms of insurance on almost a daily basis. Automobile insurance is
now required before one can own and register a motor vehicle. Health
insurance is a common benefit of most employment, and a large percentage
of the American work force is covered for at least a portion of medical bills.
Fire insurance on homes is required for any kind of financing. And
life insurance is a concern of most persons working to raise a family and
planning for contingencies of the future. After taxes, shelter, and
food, insurance premiums constitute one of a person's largest expenditures.
Moulton Bellingham represents a large
number of insurance carriers and offers a wide variety of experience in this
area of the law. Firm members regularly prepare opinion letters regarding
coverage. Litigation of both first party and third party claims is
a standard part of the firm's practice. The firm encourages use of
a number of alternate dispute resolution formats in order to reduce the costs
of defense. In the appropriate cases, the firm has conducted and defended
against extensive discovery battles and litigated long and hard during trial
and appeal. Moulton Bellingham is listed on almost all lists of recommended
insurance counsel around the country, and regularly represents such insuance
companies as State Farm, Mutual of Omaha, Royal, Farmers Insurance Group,
St. Paul, the Montana Municipal Insurance Authority, and CNA.
In the appropriate case, the attorneys
at Moulton Bellingham are also well equipped to do battle with the largest
of the insurance companies in cases involving disputes between insurers,
or in cases in which an insured has been deprived of benefits lawfully owed.
Members of the firm's insurance department can discuss in more detail
the experience of the firm in individual cases.