Tag property line
In bad faith lawsuits, policyholders often seek discovery of other claims involving allegations of bad faith. Such discovery is not relevant and should be uniformly denied. The mere fact that some other claim resulted in a finding of bad faith… Continue Reading →
A California trial court recently held that an insurer must use the “condition” of personal property as a factor in determining the depreciation value to calculate actual cash value (ACV). In The Doan v. State Farm Gen. Ins. Co., certain… Continue Reading →
In Provencal LLC v. Tower Ins. Co. of NY, Tower Insurance Company of New York (Tower) issued a commercial property policy to Provencal LLC. Heavy rains caused the collapse of a retaining wall. At trial, the parties stipulated that the… Continue Reading →
In Saratoga Resources, Inc. v. Lexington Ins. Co., Lexington Insurance Company (Lexington) issued an insurance policy to Saratoga Resources, Inc. (Saratoga) that covered various oil and gas properties. In 2012, when Hurricane Isaac hit Louisiana, many of Saratoga’s properties were… Continue Reading →
Paul and Annette Fabozzi procured a homeowner’s policy from Lexington Insurance Company. After renovating their home, the interior walls rotted so much that the home was on the verge of collapse. The Fabozzis sought coverage from the Lexington policy. Lexington… Continue Reading →
Proper claims handling requires comparing policy terms and conditions with particular facts giving rise to a claim. However, a recent decision finding that an insured’s marijuana stock is covered under a property policy offers a reminder that other circumstances should… Continue Reading →
Republished from Tressler’s Privacy Risk Report blog. While the “internet of things” (IoT) is not a new concept for the insurance industry, many people outside the insurance industry are just beginning to discuss this issue. In general, the term “internet… Continue Reading →