Richard P. Dyer – July 17, 2012 A trial court in New York recently was faced with questions concerning the amount of damages a contracting party, Citibank, was entitled to because of the failure of its contractor to procure insurance. (See Spector v. Cushman & Wakefield, 2012 N.Y. Misc. LEXIS 2794; 2012 NY Slip Op… Continue reading Court holds a $500,000 SIR Fails to Comply with Insurance Requirements
Tag: insurance
High Park Fire Destroys $38.5M Worth of Homes; Insurance Losses Total $97M
The High Park Fire destroyed more than $38.5 million worth of homes when it tore through the canyons and valleys northwest of Fort Collins last month, and caused twice that in total damage, according to new estimates. The fire destroyed 259 homes and cabins — another cabin was destroyed by a mudslide last week —… Continue reading High Park Fire Destroys $38.5M Worth of Homes; Insurance Losses Total $97M
What is a “Pay if Paid” Contract Clause and Can it Apply to a Construction Subcontractor?
Construction Law Info Blog – July 10, 2012 What constitutes a “pay-if-paid” construction contract clause? The United States Court of Appeals for the Third Circuit recently addressed this question in Sloan v. Liberty Mutual Insurance Company, 653 F.3d 175 (3d Cir. 2011). That case involved a waterfront condominium in Philadelphia. Isla of Capri Associates LP,… Continue reading What is a “Pay if Paid” Contract Clause and Can it Apply to a Construction Subcontractor?
Insurer can Deny Coverage or Reserve Rights, but not Both
Wiley Rein LLP, June 29, 2012 The Supreme Court of Georgia has held that an insurer cannot deny coverage on one ground while reserving the right to deny coverage on other grounds in the future. Hoover v. Maxum Indem. Co., 2012 WL 2217040 (Ga. June 18, 2012). An employee of the insured company suffered a… Continue reading Insurer can Deny Coverage or Reserve Rights, but not Both
Construction Defect Lawsuits: A Road to Successful Resolution Through Insurance
Kent J. Pagel Knowing what your Commercial General Liability (CGL) insurance policy can provide in terms of a construction defect lawsuit defense and payment is crucial. With many property owners still owing more than their properties are worth, combined with the run-up in construction in the mid-2000s and resulting poor quality in many instances, I… Continue reading Construction Defect Lawsuits: A Road to Successful Resolution Through Insurance