Jorge Cruz-Bustillo | Chartwell Law The takeaway from this article is to understand that the acronyms of RCV and ACV simply characterize the inclusion or exclusion of recoverable depreciation. These terms do not, under any circumstance, reflect the “scope of the damages” required to be paid at the time of the initial coverage decision. Replacement… Continue reading What is the Difference Between Replacement Cost Value (RCV) and Actual Cash Value (ACV)?
Category: Insurance Coverage
Tomorrow’s Supply Chain – Insurance Coverage for Supply Chain Disruptions Caused by Labor Issues
Adrienne N. Kitchen | Reed Smith Labor shortages on the West Coast are causing supply chain disruptions and affected businesses may be seeking insurance coverage – the question is, is it covered? Today, many businesses rely on overseas material and labor, making supply chain risk one of the six biggest risks businesses face today. Any disruption… Continue reading Tomorrow’s Supply Chain – Insurance Coverage for Supply Chain Disruptions Caused by Labor Issues
A Recent Oregon Court of Appeals Decision Bears on Insurance Coverage for Repair of Construction Defects
Laurie Hager | Snell & Wilmer In a February 15, 2023 decision in Twigg v. Admiral Insurance Company, the Oregon Court of Appeals held that an insurance company was not required to indemnify its insured based on a claim for breach of a repair agreement that settled underlying construction defect claims. As background, the Twiggs hired… Continue reading A Recent Oregon Court of Appeals Decision Bears on Insurance Coverage for Repair of Construction Defects
Want to Limit Roof Claims in Florida? Why Not a Roof Endorsement?
Ben Mandell | Insurance Journal I am an independent insurance adjuster. That means that I work for many different insurance companies on a freelance basis. I am usually hired by an IA firm that has a contract with an insurance company to adjust insurance claims. Many insurance companies have a limited number of staff adjusters… Continue reading Want to Limit Roof Claims in Florida? Why Not a Roof Endorsement?
Second Circuit Affirms Ruling That Prior Knowledge Exclusion Barred Coverage for Legal Malpractice Lawsuit
Novera H. Ahmad | PropertyCasualtyFocus The Second Circuit Court of Appeals recently affirmed a lower court’s ruling, which declared that North River Insurance Co. had no duty to defend or indemnify its insured in connection with a legal malpractice lawsuit. Background In September 2019, Max Leifer and his law office applied for professional liability insurance with… Continue reading Second Circuit Affirms Ruling That Prior Knowledge Exclusion Barred Coverage for Legal Malpractice Lawsuit