October 19, 2015 Preliminary estimates of the damages due to the heavy flooding in South Carolina are believed to be over $1 billion. Unfortunately, many residential and commercial property owners in the impacted areas did not have flood insurance. In fact, some experts have put the number of people with flood insurance and damaged properties… Continue reading The Importance of Flood Insurance for Property Damage Claims
Tag: flood
New York Court: Broadly-Worded Flood Limit “Meaningless” Unless it Applies to Any Kind of Loss Caused by Flood
Dick Bennett | Cozen O’Connor’s Property Insurance Law Observer | July 8, 2015 Yesterday in El-Ad West LLC v. Zurich American Ins. Co., 2015 WL 4078762, 2015 N.Y. App. Div. LEXIS 5753 (Jul. 7, 2015), a unanimous panel of New York’s intermediate level appellate court held that a flood sub-limit capped all loss caused by… Continue reading New York Court: Broadly-Worded Flood Limit “Meaningless” Unless it Applies to Any Kind of Loss Caused by Flood
Under Flood Policy, Land is Not Considered Insured Property
Robert Trautmann | Property Insurance Coverage Law Blog | May 13, 2015 Floods do all sorts of damage. One aspect of damage often overlooked is when the flood removes property from one property owner’s land and deposits it on another’s land. Depending on where your property is located and the severity of the flood event, the… Continue reading Under Flood Policy, Land is Not Considered Insured Property
Appraisal in Flood Claims
Robert Trautmann – February 19, 2013 A topic of much debate after Hurricane Sandy is the appropriateness of appraisal when property owners and their carrier do not agree. Can appraisal address scope (coverage) as well as price? While this area of the law is still developing, courts are unfortunately leaning to a restricted interpretation of… Continue reading Appraisal in Flood Claims
Rebuilding Post-Sandy: the Quandary Posed by FEMA’s New “Advisory Base Flood Elevations”
Thomas D. McCloskey – December 20, 2012 Executive Summary This Alert hopes to sensitize readers to the issues that are emerging in the post-Sandy rebuilding process and to urge both caution and patience when considering the finite alternatives – and funding resources – out there. We are now almost eight weeks post-Sandy. As recovery and… Continue reading Rebuilding Post-Sandy: the Quandary Posed by FEMA’s New “Advisory Base Flood Elevations”