William Rabb | Insurance Journal In the next year or so, the Florida Supreme Court will decide on the exact meaning of a legal doctrine that, under one interpretation, has blocked millions of dollars per year in subrogation recovery for liability insurance companies. The 11th U.S. Circuit Court of Appeals late last month submitted a… Continue reading Fed Court Wants Florida Supremes to Clarify Rule That Can Bar Subrogation Recovery
Category: Insurance
Protect Projects From Higher Repair Costs and Property Damage
Michael Teng | Construction Executive The cost of risk—and mitigating it—has increased in construction. It’s a trend that mirrors economic headwinds that are expected to continue in 2024. Every aspect of a jobsite costs more today, from materials and labor to tools and equipment. Take construction input costs for example. While relatively flat in 2023,… Continue reading Protect Projects From Higher Repair Costs and Property Damage
Judgment Proof: Reducing Litigation Exposure with Litigation Risk Insurance
Latosha M. Ellis and Charlotte Leszinske | Hunton Andrews Kurth It is not just your imagination: verdicts are getting bigger. So-called “nuclear verdicts” have increased in size and frequency over the past decade, particularly after the COVID-19 pandemic. Litigation risk insurance is a little known, but highly effective, option meant to compliment traditional insurance products… Continue reading Judgment Proof: Reducing Litigation Exposure with Litigation Risk Insurance
Appraisal Panel Can Determine Causation of Loss Under Ohio Law
Tred R. Eyerly | Insurance Law Hawaii The federal district court granted the insured’s motion to compel an appraisal that would include a determination of causation of the loss. Eagle Highland Owners Association v. State Farm Fire and Casualty Co., 2023 U.S. Dist. LEXIS 220937 (S.D. Ohio Dec. 12, 2023). Plaintiff argued… Continue reading Appraisal Panel Can Determine Causation of Loss Under Ohio Law
Illinois Supreme Court Finds Construction Defect Claim Triggers Initial Grant of Coverage
Tred R. Eyerly | Insurance Law Hawaii The Illinois Supreme Court found that the underlying allegations addressing construction defects were sufficient to establish “property damage” caused by an “occurrence.”Acuity v. M/I Homes of Chicago, LLC, 2023 Ill. LEXIS 1019 (Ill. Nov. 30, 2023). M/I Homes was the general contractor for a… Continue reading Illinois Supreme Court Finds Construction Defect Claim Triggers Initial Grant of Coverage