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Month: November 2013
Arizona Supreme Court Limits Economic Loss Rule Application
Tony Lehman – November 5, 2013 In Sullivan v. Pulte Home Corp., 306 P. 3d 1 (Ariz. 2013), the Arizona Supreme Court considered whether the economic loss rule should apply to a claim for negligent construction raised by the second purchaser of a house. The Sullivans purchased their home from the original purchaser three years after the house… Continue reading Arizona Supreme Court Limits Economic Loss Rule Application
Recovering Replacement Cost After Selling Unrepaired Property
Ashley Smith – November 7, 2013 The last several months I’ve spent the majority of my time on the New Jersey Shore. Among the reconstruction, empty lots, and damaged homes I also see a growing number of “for sale” signs lining the sidewalks. In fact, this was a topic of conversation Tuesday night over dinner… Continue reading Recovering Replacement Cost After Selling Unrepaired Property
Insurance Policy Tear-out Provision May Require Insurance Carrier To Pay For Costs To Repair Plumbing
Shaun Marker – November 12, 2013 First-party property insurance policies often contain tear-out provisions that provide coverage for situations where there is a leak in the pipes of the plumbing system, and to repair the plumbing system from which the water escaped, there is a need to tear-out building materials to access the pipes. What… Continue reading Insurance Policy Tear-out Provision May Require Insurance Carrier To Pay For Costs To Repair Plumbing
California Appellate Court Issues Bad Faith Duty to Settle Opinion
On October 7, the California Court of Appeal, Second Appellate District, held that a liability insurer, in the absence of any demand or settlement offer from a third party claimant, need not initiate settlement negotiations or offer its policy limits, even where liability is clear and there is a substantial likelihood that the third party… Continue reading California Appellate Court Issues Bad Faith Duty to Settle Opinion