Alexis P. Joachim | Phelps Dunbar | April 26, 2018 On March 27, 2018, in a matter of first impression, the New York Court of Appeals ruled that under a “pro rata time-on-the-risk” allocation method, a policyholder bears the risk of uninsured years. In KeySpan Gas East Corp. v. Munich Reinsurance America, Inc., et al.,… Continue reading Policyholders Bear the Risk When Insurance Was Unavailable on the Market
Month: April 2018
Choosing a Damages Methodology for Certain Construction Claims
Daniel B. Swaja | Kilpatrick Townsend & Stockton LLP | April 18, 2018 In any construction dispute resolution process, not only does a claimant have to prove liability of the other party, but the claimant must also prove damages to prevail on its claim. The proof of damages element to prevailing on a claim is… Continue reading Choosing a Damages Methodology for Certain Construction Claims
Compliance with Contractual Provisions to Procure Insurance: The Illusion of Coverage Provided by Certificates of Insurance
Micalann Pepe and Nate Meyer | Jaburg Wilik Commercial contracts often require the party with less bargaining power to procure insurance for the party with more bargaining power as a way to shift risk and potential liability. General Contractors often require a Subcontractor’s policy to name the General Contractor as an “Additional Insured.” Lenders often require a Borrower’s… Continue reading Compliance with Contractual Provisions to Procure Insurance: The Illusion of Coverage Provided by Certificates of Insurance
Claim Handling Requirements by State – Washington
Julitza Perez | Property Insurance Coverage Law Blog | April 18, 2018 Washington State is not only known as the “Evergreen State” and the only state named after a United States President, but it is also the home of many innovative Internet companies and where the biggest coffee chain in the world was founded: Starbucks.… Continue reading Claim Handling Requirements by State – Washington
Pay IF Paid: It Means What it Says
Kyle M. Doiron | Bradley | March 2018 Pay when paid clauses are common in the construction industry. A typical pay when paid clause sounds something like this: “Prime Contractor will not pay Subcontractor until Prime Contractor receives payment from Owner.” A lay person might read that and interpret it to mean that if the Prime Contractor… Continue reading Pay IF Paid: It Means What it Says