Larry Bache – April 18, 2013 Insurance policies often include an exclusionary provision dealing with damages caused by Earth Movement. But does the exclusionary provision include natural and man-made earth movement, or just natural earth movement? According to FC&S, it depends on jurisdiction.1 The majority view is damage caused by natural earth movement is excluded,… Continue reading Are Damages Caused By Blasting or Other Man-Made Earth Movement Covered Under Your Insurance Policy?
Month: April 2013
Claim Estimates Too Low For Sandy Storm?
Joseph A. Porcelli – April 17, 2013 Super Storm Sandy – Are Insurer’s Claim Estimates Too Low? Many victims of Super Storm Sandy have found that the settlement offered by their insurance company falls short of the actual costs associated with rebuilding and restoring the damages incurred. There are several reasons for this disparity. Most… Continue reading Claim Estimates Too Low For Sandy Storm?
Florida Second DCA Rules That Payment Of Appraisal Award Satisfies The “Favorable Resolution” Requirement For A Bad Faith Action
Ben Adams – April 19, 2013 In Florida, bad-faith actions against insurers pursuant to Section 624.155 cannot be brought until (1) the insured files a civil remedy notice (CRN) accepted by Florida’s Department of Financial Services; and (2) the underlying breach of contract lawsuit is “resolved in the insured’s favor.” See Blanchard v. State Farm Mut.… Continue reading Florida Second DCA Rules That Payment Of Appraisal Award Satisfies The “Favorable Resolution” Requirement For A Bad Faith Action
Statutory Limitation Periods can be Reduced Contractually under Nevada Law
Tamara Boeck – April 15, 2013 The Nevada Supreme Court has answered a question that developers and contractors have been asking for years: can the statutory limitation period for a construction defect action be shortened? The court answered in the affirmative but held that there must be no statute to the contrary and that the… Continue reading Statutory Limitation Periods can be Reduced Contractually under Nevada Law
‘Reprehensible’ Practice Sparks Call for Insurance Commissioner, Lawmakers to Act
Charles Elmore – April 18, 2013 Florida’s insurance consumer advocate is calling for the state’s top regulator and legislators to send a clear message that property insurers should not be allowed to deny claims and cancel policies based on consumer credit information more than 90 days after taking a policy. “This practice is reprehensible and… Continue reading ‘Reprehensible’ Practice Sparks Call for Insurance Commissioner, Lawmakers to Act