Jubin Niamehr

MMA files Emergency Motion to Authorize the Use of Cash Collateral On May 2, 2024, MMA filed the attached Emergency Motion for Interim and Final Orders Authorizing the Debtor's Use of Cash Collateral. MMA states "The Debtor currently has over 25,000 engagement agreements with clients regarding damage/insurance claims, and a fee interest in more than 5,000 mass tort claims." MMA argues in part "If the Debtor is not authorized to spend cash collateral, the Debtor would face the real possibility of being forced to cease operations, thereby placing the Debtor’s clients and creditors in great difficulty." It is wonderful that MMA is expressing serious concern for its clients and argues that the best way to protect those clients is to give MMA access to more money. MMA's proposed payroll through May 31 is $68,444.44. (Page 5) MMA also indicates "The Debtor has obtained authority and agreement from EAJF to process a limited payroll since the filing of this case and has continued to attempt to agree upon an interim order for use of cash collateral. No agreement was reached." It will be interesting to see the responses filed and whether the Court grants this request.

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MMA Admits to at least $29,868,060.35 in Unsecured Claims On April 11, 2024, MMA filed Official Form 204, which is a List of Creditors Who have the 20 Largest Unsecured Claims and Are Not Insiders. The list of the amount of the claims as set forth by MMA totals $29,868,060.35. It is important to note that this is not a complete list of unsecured creditors and that this list does not include secured creditors. The hedge funds have previously filed motions in Harris County alleging their claims against MMA now exceed $36,000,000. If this amount has not been resolved, then the running total of claims against MMA is at least $65,868,060.35. This is more than the $10,000,001 - $50,000,000 estimated by MMA in its initial filing. Looking at the list, we see estimators, public adjusters and appraisers. We also see a COVID Economic Injury Disaster Loan still outstanding. There is an outstanding lease claim by Porsche Financial Services. The $500,000 in fines issued last year by the Louisiana Department of Insurance made the Top 20. It is of note that MMA characterizes 15 of the 20 claims as "Disputed". Going forward, we may see a summary of assets and liabilities, a list of real and personal property, and a list of secured creditors.

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In California, drivers have a legal obligation to operate their vehicles safely and avoid collisions. If a multi-car collision occurs, resulting in a car flipping over and another car getting rear-ended, liability considerations become complex. Determining liability in a multi-car collision depends on various factors, including each driver's actions, speed, and adherence to traffic laws. The driver who initiated the chain reaction may bear primary responsibility for the accident. However, liability may also extend to other drivers involved if they contributed to the collision through negligent behavior, such as speeding or distracted driving. #CaliforniaTrafficLaws #MultiCarCollision #AccidentLiability #DriveResponsibly #LegalRightsOnTheRoad #CaliforniaDriving #TrafficSafety #AccidentPrevention #RoadSafety #SafetyFirst #LiabilityConsiderations #ChainReactionAccident #StaySafeOnTheRoad #TrafficRules 🚗🛣️🚥

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Everyone involved in adjusting a claim should be licensed. However, many estimates coming from public adjusting companies don’t even identify the adjuster. This should be illegal. Further, there are many “estimating companies” that are operating as off the books public adjusting companies. Hopefully we will get a follow up article on this.

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Our e-learning course provides an introduction to Valuing General Damages in a personal injury claim. Learn about valuing damages methodically using all the available evidence, the Judicial College Guidelines, and case law to support your valuation. Ideal for trainee solicitors, paralegals, litigation assistants and claims handlers. https://lnkd.in/ePWnfPfF #PersonalInjuryLawyer #PersonalInjuryLaw

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Captive programs that underwrite commercial general liability, workers compensation, and commercial auto are often referred to as primary, three-line programs. These coverages are so common that they form the core (making them "primary") of commercial insurance programs. They are also almost always fronted, which means that the program pays a fee to a well-known carrier who then provides a number of services or other benefits to the captive program. These include: 1.) A credit-rating. Most companies' contracts require them to demonstrate they are insured with a carrier that has a specific credit rating. The fronting carrier has this rating (or better). 2.) Administrative capabilities: the US has a patch-work of 50 regulatory regimes. Complying with these rules requires a great deal of compliance work, which the front has as part of its internal operations. 3.) Claims handling: sometimes the program will use the primary carrier's internal claims team. 4.) Access to reinsurance carriers and/or markets. The front likely has relationships with reinsurance carriers which are used for the program. #captive #captiveinsurance #captives #insurance

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#PersonalInjury attorney Eleanor Shaffer's article, “Things to Do Before a Car Accident Happens to You,” has been featured in the Best Lawyers Injury & Malpractice Legal Guide. Ellie shares two proactive steps that Arizona motorists should consider to protect themselves before a car accident happens. Read the article here: https://birdeye.cx/u262pe Connect with Ellie: https://birdeye.cx/k66gam

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What does the phrase, “swapping dollars” mean and what is its relation to large insurance accounts? There are two key background points that need to be understood. 1.) Insurance is priced prospectively. Insurers estimate how many claims the account will file in the upcoming policy year and incorporate this amount into the premium. This variable is called the “loss pick.” 2.) With a larger account, it’s not a matter of if it will file a claim but when and how often. A company with a single work truck for 30 years might never file a claim. But a company with 300 trucks will likely have a claim every year simply due to its size. So, a larger account will pay a premium at the beginning of the policy year and receive some of this money back in the form of claim payments. This is where the term "swapping dollars" comes into play; the insured pays money to the insurer at the beginning of the policy year but receives some of those funds back during the next 12 months when a claim is filed. This transaction has two benefits for the insurer. First, it earns investment income on the funds which it keeps even when it pays a claim. Second, it gets the tax benefit of reserving for claims. A third benefit may also accrue: if the insured files no claims or fewer claims then projected, the insurer keeps the difference. This explains why larger accounts analyze alternative risk transfer as part of their risk financing plans. Since they are more likely to have regularly occurring claims, it makes far more sense for them fund them internally to obtain the financial benefits of investment income and reserving.   #captive #captiveinsurance #captives #insuranxce     

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“Continental conceded at oral argument that the claims file contains a ‘blow by-blow’ diary of the insurer’s investigation and decision-making process with regard to Brown’s loss of earnings claim. The tort of bad faith arises when an insurance company intentionally denies, fails to process, or fails to pay a claim without a reasonable basis for such action….The portions of the claims file which explained how the company processed and considered Brown’s claim and why it rejected the claim are certainly relevant to these issues. Further, bad-faith actions against an insurer, like actions by client against attorney, patient against doctor, can only be proved by showing exactly how the company processed the claim, how thoroughly it was considered and why the company took the action it did. The claims file is a unique, contemporaneously prepared history of the company’s handling of the claim; in an action such as this the need for the information in the file is not only substantial, but overwhelming.” -- Brown v. Superior Court, 670 P.2d 725 (Ariz. App. Ct. 1983).

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The latest episode of The Founding Partner Podcast dives deep into the innovative ways personal injury attorneys can connect with their ideal clients. Instead of the usual direct-to-consumer marketing that casts a wide net, the discussion focuses on a more targeted approach. Consider this: victims of car accidents come from all walks of life. They could be any age any economic status – there isn't a one-size-fits-all method to reach them. So the question becomes, where do these potential clients go after an accident? That's where the marketing focus should be. For personal injury attorneys listening, this is crucial. The traditional methods are not the only way to reach your audience. By planting seeds in communities and connecting with those already serving your desired clients, you can create a pipeline that brings your services to those who need them most. This strategy isn't just about reaching more people; it's about reaching the right people in the places they turn to for help after an accident. For a more in-depth look at how to apply this strategy and to hear valuable insights that could transform your marketing approach, check out the full episode by clicking here https://pbp.li/fpp026. #PersonalInjuryLaw #MarketingStrategies #LegalMarketing #Podcast #TheFoundingPartnerPodcast #CommunityEngagement #TargetedMarketing #Lawyers #Attorneys #ClientAcquisition

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Many clients ask us how long a car accident trial will last in a personal injury claim. Understandably, they want to know how long it will take to resolve their case and whether they will have to endure a lengthy courtroom battle. While every case is unique, and the duration of a trial can vary depending on several factors, our goal at Gosai Law is to resolve cases efficiently and effectively, striving to avoid trial whenever possible. Read more in our latest blog post: https://lnkd.in/gwAdc3yy

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insurance lead buyer earns a big win in TCPA class action when court limits discovery to issues concerning purportedly fraudulent lead... #insurance #tcpa #litigation #risk #discovery #sms #leads #leadgen #compliance #leadfraud #deservetowin

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