Tag claim
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 →
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 →
Recently, Minnesota’s highest court ruled in Wilcox v. State Farm Fire & Cas. Co. on whether or not labor can be depreciated in determining Actual Cash Value (ACV). Answering a certified question from the United States District Court of Minnesota,… Continue Reading →
Elaine Gattus purchased a homeowner’s policy from Gulfstream Property and Casualty Insurance Company (Gulfstream). The policy included a provision that stated “[a]ssignment of this policy will not be valid unless we give our written consent.” After Gattus’ home suffered damage,… Continue Reading →
In the unpublished Queen Anne Park Homeowners Assoc. v. State Farm Fire & Cas. Ins. Co., the 9th U.S. Circuit Court of Appeals addressed a HOA’s 2011 claim for coverage under property insurance policies issued by State Farm when it… Continue Reading →
In Old Second Nat’l Bank v. Indiana Ins Co., 2015 IL App (1st) 140265 (Ill. App. Ct. 1st Dist. 2015), the Illinois Appellate Court for the First District upheld summary judgment in favor of a mortgage holder, finding a standard… Continue Reading →
In JAW The Point, LLC v. Lexington Ins. Co., 2015 Tex. LEXIS 343 (Tex. 2015), the Texas Supreme Court held an anti-concurrent-causation clause in the insured’s policy precluded coverage for increased rebuilding costs following Hurricane Ike. JAW The Pointe, LLC… Continue Reading →
By way of its declaratory judgment complaint filed in Great American Ins. Co. v. GRM Management, LLC, 2014 U.S. Dist. LEXIS 164147 (E.D. Vir. Nov. 24, 2014), Great American sought a declaration that no coverage was owed to its insureds… Continue Reading →