Arthur Armstrong and Alexander Corson | Lowenstein Sandler The Second Circuit’s recent decision affirming a $54.2 million recovery for CITGO signals the judiciary’s renewed commitment to a bedrock principle of insurance law: Ambiguous policy language must be construed in favor of coverage. This rule of construction recognizes that insurance policies are risk-transfer products underwritten and… Continue reading Ambiguities Bite Back: Second Circuit Reaffirms Commitment to Construing Ambiguous Terms in Favor of Coverage
Tag: Contract Ambiguity
Contract Ambiguity Affected Accrual of Claim, and Statute of Limitations Analysis
Stan Martin | Commonsense Construction Law LLC | June 2, 2018 A seemingly minor ambiguity in contract terms, probably unnoticed at the time, has affected the timeliness of a claim for construction defects. The contract was signed in 2008, after the 2007 updates to the AIA contract forms had been published. The contract form, in… Continue reading Contract Ambiguity Affected Accrual of Claim, and Statute of Limitations Analysis