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Records Retention for the California Real Estate Broker

Posted by D. Keith B. Dunnagan, Esq. on Nov 28th 2018

Records Retention for the California Real Estate Broker
Although at times cumbersome, retention of all records is an essential duty of real estate agents and brokers. In fact, not only is it a duty of agents and brokers, it is also a legal requirement. Under California Business & Professions Code §10148, "A licensed real estate broker shall retain for three years copies of all listings, deposit receipts, canceled checks, trust records, and other documents executed by him or her or obtained by him or her in connection with any transactions for whi
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Case Accrues on Date Insured Receives the Policy

Posted by Professional Liability Attorney Network on Nov 28th 2018

Case Accrues on Date Insured Receives the Policy
In the context of a coverage dispute, insureds brought a counterclaim against their insurer and a third-party complaint against their insurance agent alleging negligent failure to procure proper insurance coverage. The insureds had requested a policy equal to their previous policy with another carrier, which would have provided coverage. The trial court dismissed the insured’s claims as untimely. The appellate court reversed based on the agent’s fiduciary duty that was more significant than
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Court Finds That Limitation on Conditional Use Permit Results in Covered Property Damage Due to Loss of Use

Posted by Haight Brown & Bonesteel LLP on Nov 28th 2018

Court Finds That Limitation on Conditional Use Permit Results in Covered Property Damage Due to Loss of Use
In Thee Sombrero, Inc. v. Scottsdale Ins. Co. (No. E067505, filed 10/25/18), a California appeals court held that a property owner’s loss of the ability to use his property as a nightclub, based on revocation of a city’s conditional use permit (“CUP”), constituted covered property damage.In Sombrero, lessees operated a nightclub under the property owner’s conditional use permit from the City of Colton. A company hired to provide security negligently allowed admission to an armed patron, who shot
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ABA Formal Opinion Discusses Ethical Implications of Data Breaches

Posted by Shari Claire Lewis, Esq. / Amanda Gurman, Esq. on Nov 28th 2018

ABA Formal Opinion Discusses Ethical Implications of Data Breaches
On October 17, 2018, the ABA Standing Committee on Ethics and Professional Responsibility issued Formal Opinion No. 483 addressing lawyers’ and law firms’ professional responsibilities during and after a cyber event. A link to the Opinion can be found here. Although advisory in nature and not binding in a court of law, lawyers would do well to heed the ABA’s advice concerning the ethical risks of being unprepared for or not properly responding to a cyber event.The Opinion noted that because lawy
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Notice-Prejudice Rule Applies to Life Insurance Disability Premium Waiver Rider

Posted by Haight Brown & Bonesteel LLP on Nov 28th 2018

Notice-Prejudice Rule Applies to Life Insurance Disability Premium Waiver Rider
October 18, 2018 In Lat v. Farmers New World Life Ins. Co. (No. B282008, filed 10/16/18), a California appeals court held that the notice-prejudice rule precluded a denial of life insurance benefits based on the insured’s failure to give notice of disability as required under a disability premium waiver rider.In Lat, premiums for the insured’s life insurance policy were accumulated in an account from which the cost of the insurance was deducted monthly. If the account balance fell below the nex
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