Connor L. Kridle and Sarah J. Odia | Payne & Fears On June 3, 2023, Nevada Gov. Joe Lombardo signed into law AB 398 (the Act) which modifies the Nevada insurance code by restricting the types of liability policies that can be offered in the state. The End of Eroding Limits Policies in Nevada First, the Act… Continue reading The End of Eroding Limits Policies in Nevada is Just the Beginning
Category: Insurance
Quiet Title Action Does Not Involve Covered “Loss”
Nathan B. Lovett | Wiley Rein The United States District Court for the Eastern District of California, applying California law, has held that a professional liability insurer had no duty to defend its insured in an underlying lawsuit because the suit did not seek “Loss” as defined in the policy. Dollar Point Ass’n, Inc. v. United… Continue reading Quiet Title Action Does Not Involve Covered “Loss”
Insurer Springs a Leak in Its Pursuit of Subrogation
Katherine Dempsey | White and Williams In Nationwide Prop & Cas. Ins. Co. v. Fireline Corp., No. 1:20-cv-00684, 2023 U.S. Dist. LEXIS 104241, the United States District Court for the District of Maryland (District Court) considered whether the events giving rise to the plaintiff’s claims fell within the scope of a previously formed agreement, thereby rendering… Continue reading Insurer Springs a Leak in Its Pursuit of Subrogation
Engineering Report is Not a “Cost to Repair or Replace” Under Insurance Policy
Denisse Ibarra and Nathaniel Tobin | Chartwell Law Florida Senate Bill 2A revised Fla. Stat §627.7152 to state that “a policyholder may not assign…any post-loss insurance benefit under any residential property insurance policy…issued on or after January 1, 2023.” Fla. Stat. §627.7152(13). Insurance companies, however, still face lawsuits filed by Assignment of Benefits (“AOB”) companies… Continue reading Engineering Report is Not a “Cost to Repair or Replace” Under Insurance Policy
Policy Reformed to Add New Building Owner as Additional Insured
Tred R. Eyerly | Insurance Law Hawaii The lower court correctly reformed the policy to replace the prior owner with the new owner as an additional insured under the policy. Wesco Ins. Co. v. Fulmont Mut. Ins. Co., 2023 N.Y. App. Div. LEXIS 2650 (N. Y. App. Div. May 11, 2023). Beyond… Continue reading Policy Reformed to Add New Building Owner as Additional Insured