William Rabb | Insurance Journal Two Kentucky Supreme Court rulings handed down last week emphasize how important it can be to have clearly worded insurance policies, including exclusions and excess and escape clauses, particularly in high-dollar commercial coverage. In Motorists Mutual Insurance Co. vs. First Specialty Insurance Corp., the high court split the difference on… Continue reading Kentucky Supreme Court Overturns Escape Clause Meaning, Affirms Roof Collapse
Tag: Insurance Policies
Nevada “Outlaws” Cost-Reducing Liability Insurance Policies, with Guidelines to Insurers
Philip J. Tacason | Lewis Brisbois On June 3, 2023, Nevada Governor Joe Lombardo signed into law Assembly Bill (AB) 398, which prohibits insurers from renewing or issuing insurance policies that include provisions that reduces the limit of liability by the costs of defense. AB 398 states: Section 1. Chapter 679A of NRS is hereby… Continue reading Nevada “Outlaws” Cost-Reducing Liability Insurance Policies, with Guidelines to Insurers
Blindly Relying on Public Adjuster or Loss Consultant’s False Estimate Can Play Out Badly
David Adelstein | Florida Construction Legal Updates Insurance policies, particularly property insurance policies, have a concealment or fraud provision that, in essence, gives the insurer an out if the insured submits a fraudulent claim, a false claim, or conceals material facts. Unlike a traditional fraud claim where a party needs to prove intent, the provision is broad… Continue reading Blindly Relying on Public Adjuster or Loss Consultant’s False Estimate Can Play Out Badly
Avoid the Headache – Submit the Sworn Proof of Loss to Property Insurer
David Adelstein | Florida Construction Legal Updates Property insurance policies (first party insurance policies) contain post-loss obligations that an insured must (and should) comply with otherwise they risk forfeiting insurance coverage. One post-loss obligation is the insurer’s right to request the insured to submit a sworn proof of loss. Not complying with a post-loss obligation such as submitting… Continue reading Avoid the Headache – Submit the Sworn Proof of Loss to Property Insurer
Foundations, Basement Walls And Collapse — Connecticut Supreme Court Rules Against Coverage
Larry P. Schiffer | Squire Patton Boggs | November 21, 2019 Homeowners in Connecticut (and other states) have had issues with crumbling foundations and basement walls of their homes due to defective concrete manufactured by a specific supplier. They have turned to their homeowners insurance policies for coverage and coverage has been denied. Multiple lawsuits… Continue reading Foundations, Basement Walls And Collapse — Connecticut Supreme Court Rules Against Coverage