Sara Nau | Phelps Dunbar In a recent opinion, the Fifth Circuit reaffirmed and applied its holding from OGA Charters. In doing so, it blocked (via a bankruptcy adversary proceeding) one set of plaintiffs from keeping an insured’s entire policy limit, which the insurer paid as per Texas’ “first come first served” approach to time-limited policy limits demands.… Continue reading Court Upholds Texas’ “First Come, First Served” Approach When Claimant Demands Exceed Policy Limits
Category: Insurance Coverage
No Coverage for Lawsuit Served on Insured’s Registered Agent Prior to Policy Inception
Emily Hart | Wiley Rein In a win for Wiley’s client, the U.S. Court of Appeals for the Eleventh Circuit, applying District of Columbia law, affirmed judgment on the pleadings that no coverage is available for a lawsuit because the “claim” was first made before the inception date of the policy when the lawsuit was… Continue reading No Coverage for Lawsuit Served on Insured’s Registered Agent Prior to Policy Inception
Insurance Issues In Commercial Contracts: A Checklist For Dealmakers
Andrew L. Field | Taft Stettinius & Hollister A wide variety of commercial contracts arising across industries include insurance coverage requirements. Although dealmakers often agree to counterparty forms or boilerplate language on this topic, doing so may result in the assumption of unnecessary risk. This article describes typical insurance clauses and advises on key drafting… Continue reading Insurance Issues In Commercial Contracts: A Checklist For Dealmakers
What Is Included In Business Interruption Coverage?
Schwartz, Conroy & Hack Many commercial property policies provide coverage for business interruption losses that result from physical loss of or damage to insured property that was caused by a covered peril. For instance, if you can’t open your store temporarily due to damage from a fire, you could put in a claim for revenue… Continue reading What Is Included In Business Interruption Coverage?
The Water Damage Exclusion And Your Commercial Property Insurance
Schwartz, Conroy & Hack An all-risk commercial property insurance policy does not, in fact, cover all risks. Every property insurance policy has exclusions, and one of the most common – and most often disputed – is the water damage exclusion. What is a water damage exclusion clause? A water damage exclusion clause bars coverage for… Continue reading The Water Damage Exclusion And Your Commercial Property Insurance