Kelly Phan | Marshall Dennehey Two years prior to Evelyn Pitts’ death, she placed her property in a revocable living trust, entered an assisted living facility and then rented her property to tenants. After Evelyn’s passing, her son reported water damage to the property to Universal Property & Casualty Insurance Company. Universal initially extended coverage… Continue reading Coverage Denied: Residence Premises Requirement Bars Claim Despite Premiums and Initial Payment
Tag: insurance
Policyholders Should Negotiate To Limit AI Exclusions At Renewal
Lynda A. Bennett and Alexander B. Corson | Lowenstein Sandler As renewal season approaches, policyholders should be on the lookout for broad artificial intelligence exclusions across all lines of coverage. In the last year, news of insurance companies inserting increasingly expansive AI exclusions has spread. Risks associated with AI are becoming increasingly widespread and sophisticated.… Continue reading Policyholders Should Negotiate To Limit AI Exclusions At Renewal
Commercial Lightning Losses: You Can’t Manage What You Don’t Measure
Jeff Dunsavage | The Triple-I Blog Lightning strikes costs homeowners more than $1 billion a year – but it’s unclear how much businesses lose through lightning-related damage. This is because many fires at commercial properties are recorded simply as “general fire damage”, making it hard to quantify lightning-specific losses or understand true commercial exposure. In… Continue reading Commercial Lightning Losses: You Can’t Manage What You Don’t Measure
Late Notice Doesn’t Always Mean No Coverage—But Only If You Can Prove It
Amanda S. Keller | It Pays to Be Covered The Eleventh Circuit’s recent decision in L. Squared Industries, Inc. v. Nautilus Insurance Co. offers important guidance for policyholders navigating notice provisions under claims-made insurance policies—particularly when a policy imposes both a policy-period notice requirement and a separate “prompt notice” clause. Background L. Squared Industries owned and operated… Continue reading Late Notice Doesn’t Always Mean No Coverage—But Only If You Can Prove It
Drafting Effective Insurance Coverage Letters: Best Practices For Insurers
Richard W. Boone, Jr. | Wilson Elser A carefully drafted coverage letter remains one of the most effective tools of an insurer. This article provides insurers and claims professionals with a guide to drafting clear, compliant, and defensible coverage letters. This starts when the carrier receives notice of the claim and includes complying with regulatory… Continue reading Drafting Effective Insurance Coverage Letters: Best Practices For Insurers