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Drawbacks of Obtaining Coverage Through Risk Pools

What is a risk pool? A risk pool is a method of risk management typically practiced by businesses or governmental entities that come together to create a “pool” to provide financial protection against major catastrophes such as hurricanes, wind and hail damage, or fires. The purpose behind a risk pool is to spread these risks among a large number of contributors to the program in order to ease ...
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Virtuwave Holdings Celebrates Property Damage Jury Verdict

In March 2017, a destructive hailstorm passed through North Texas. Virtuwave Holdings owned a 70,000 square foot mixed-use commercial building in McKinney, Texas that suffered considerable damage from the storm. The building developed multiple leaks within a few days after the storm. Virtuwave reported the damage to its insurance company, State Farm Lloyds. State Farm’s initial adjuster only in...
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Policyholders’ Rights After Payment of an Appraisal Award

Policyholders may not be aware that their property insurance policy contains an appraisal provision. Insurance companies sometimes use these appraisal provisions to delay the claims process, increase costs for policyholders, or prevent the policyholder from filing lawsuits against them. Some form of an appraisal provision is in almost every property insurance policy sold in Texas and throughout...
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Four Best Practices for Negotiating a Construction Contract

When you begin negotiating with design professionals and contractors on a construction project, there are several pitfalls you should avoid. Here are four important issues to keep in mind: 1. Avoid arbitration provisions. “Don’t enter into a contract that contains an arbitration clause for dispute resolution,” advises Pearson Legal, P.C. founder Matthew R. Pearson. “Arbitration is promoted b...
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What is the difference between a statute of limitations and a statute of repose?

If you have problems with a commercial construction project, you must be sure to assert your legal rights timely, or they will be waived. Two critical “deadlines” to keep in mind are the statute of limitations and the statute of repose. There are some key differences between the two, but both are designed to allow the defendant to: Request proof of injury; Hire its own inspectors to view t...
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Is Your Home or Business Hurricane-Ready?

Hurricane Laura may have missed most of Texas, but we’re not out of the woods yet. The Atlantic hurricane season lasts through Nov. 30. Is your home or business ready for a natural disaster? Here are some tips to follow. Know Your Risk Hurricanes aren’t just a coastal problem. Hurricane damage can happen almost anywhere. A hurricane making landfall at a high speed has the power to move a lon...
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When is the right time to consult an attorney in the insurance claims process?

You may have suffered a loss from property damage caused by hail, tornado, hurricane, windstorm, fire, explosion or other weather related events, or you may have suffered losses due to a business interruption. Either way, your first course of action is to file a claim with your insurance company. Keep in mind that an insurance claim is a business transaction, and you may not see eye-to-eye with...
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May It Please the Camera

By Cara Salvatore Law360 (June 29, 2020, 3:41 PM EDT) — As masses of legal work shift online, trial lawyers are turning on their webcams and realizing their old courtroom skills are no longer enough. But recent remote proceedings are already showing that online trials can actually work — with the right considerations. Latham & Watkins LLP associate Corey Calabrese was one of the first la...
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Pearson Legal Participates in First Summary Jury Trial Via Zoom

Due to the coronavirus pandemic, many changes have been made in the way people are conducting business, and that includes the legal profession. Matthew Pearson, of Pearson Legal P.C., participated in the first-ever civil summary jury trial over Zoom on Monday, May 18. It was an experiment to get the civil judicial system up and running after being shut down by the pandemic. The one-day civil...
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