Ryan Boysen | Law 360 | July 3, 2017 National insurance giants including State Farm, AIG, Allstate and a slew of others are staring down the barrel of an unconventional proposed class action in Connecticut that could cost them billions of dollars and will test the limits of the state’s insurance industry bad faith laws — all because of… Continue reading Giant Concrete Coverage Suit Tests Conn. Bad Faith Laws
Category: Insurance Coverage
District Court Rules “Professional Services” Exclusion means Professional Services
R. Bruce Wallace | Nexsen | Pruet | June 29, 2017 Recently, the United States District Court for the District of South Carolina granted judgment in favor of an insurance carrier, finding the carrier did not owe a duty of defense or a duty to indemnify the insured in an underlying professional malpractice claim. In State… Continue reading District Court Rules “Professional Services” Exclusion means Professional Services
In California, Can an Insured Homeowner Recover Full Replacement Cost by Purchasing a Home at Another Location?
Stephanie Poll | Property Insurance Coverage Law Blog | June 25, 2017 The short answer is yes. In Conway v. Farmers Home Mutual Insurance Company, the California Court of Appeal followed several out-of-state authorities in considering the issue and ruling in favor for the insured.1 Chip Merlin raised this issue with respect to Texas back in 2009 –… Continue reading In California, Can an Insured Homeowner Recover Full Replacement Cost by Purchasing a Home at Another Location?
Water Damage Loss Time Limits and Hidden Damage—What Do Insurers Promise to Departments of Insurance?
Chip Merlin | Property Insurance Coverage Law Blog | June 26, 2017 I spoke about water damage loss at the National Association of Public Insurance Adjusters Annual Convention last week. One issue I discussed was the time limits of water damage. A recent post, Avoiding Denials of Water Damage Claims Based on “Long Term Damage Exclusions” also… Continue reading Water Damage Loss Time Limits and Hidden Damage—What Do Insurers Promise to Departments of Insurance?
Does Actual Cash Value Mean Fair Market Value or Replacement Cost minus Depreciation?
Kevin Pollack | Property Insurance Coverage Law Blog | June 4, 2017 What is an insured, who has an “actual cash value” property insurance policy, entitled to recover when their property is damaged, but not a total loss? Is the insured entitled to the cost to repair/replace the property minus depreciation? Or is the insured’s… Continue reading Does Actual Cash Value Mean Fair Market Value or Replacement Cost minus Depreciation?