“The basic premise of traditional property insurance is the concept of indemnity. The insured who suffers a covered loss is entitled to receive full, but not more than full, value for the loss suffered, to be made whole but not be put in a better position than before the loss.” In re: State Farm Fire & Cas. Co., 872 F.3d 567, 573 (8th Cir. 2017). The concept of indemnification for loss is at the core of property insurance reimbursement. Insurance policies are ... Keep Reading »
When Relying on a Prior Acts Exclusion to Deny Coverage, Be Sure to Connect the Dots
In Certain Underwriters at Lloyd’s of London v. Federal Deposit Ins. Corp., No. 16-16702 (11th Cir. Jan. 23, 2018), the Eleventh Circuit concluded that a “prior acts” exclusion in a D&O policy did not bar coverage where the insurer failed to prove a clear connection to events that occurred before inception of the insurance policy. As this case demonstrates, when an insurer relies on a prior acts exclusion to deny coverage, it not only must establish the wrongful ... Keep Reading »
Opening the Pandora’s Box of Flood Policies, or How Filing Suit Against Flood Insurers Can Effectively Reduce the Suit Limitations Period
When is an insurer’s “Rejection of Proof of Loss” letter for flood insurance damage, which states on its face that it “is not a denial of your claim,” nevertheless a written denial of claim? According to the Third Circuit in Migliaro v. Fidelity National Indemnity Ins. Co., No. 17-1434 (3d Cir. Jan. 29, 2018), the answer is whenever “the policyholder treats it as such by filing suit against the carrier.” If a flood policyholder treats a proof of loss rejection as a claim ... Keep Reading »
See Something, Say Something – Especially on Your Application for Insurance Coverage
When is a misrepresentation material on an application for insurance coverage? The Ninth Circuit affirmed a decision from the Central District of California, finding that an answer on an application for D&O insurance was a material misrepresentation, and that therefore the policy was rescinded. The question on the application asked: None of the individuals to be insured under any Coverage Part (the “Insured Persons”) have a basis to believe that any wrongful act, ... Keep Reading »
Look Beneath the Surface: No Coverage for DC Row House Collapse Under Builder’s Risk Policy
The interpretation of a property insurance policy may seem like a dull endeavor, but courts sometimes face fundamental questions about what words mean, or how we conceptualize cause and effect. In Taja Investments LLC v. Peerless Ins. Co., No. 16-1854 (4th Cir. Oct. 11, 2017), the Fourth Circuit Court of Appeals confronted both issues to determine that two exclusions in a builder’s risk policy applied to bar coverage for the collapse of a row house under renovation in ... Keep Reading »
No Coverage for Hole-In-One Contest, Says Fore-th Circuit Court of Appeals
They say a bad day on the golf course is better than a good day at work. For Old White Charities, Inc., a non-profit that conducted a hole-in-one contest during the Greenbrier Classic Pro-Am golf tournament, this could not be further from the truth. In All Risks, Ltd. v. Old White Charities, Inc., No. 17-1180 (4th Cir. Dec. 20, 2017), the Fourth Circuit affirmed the district court’s grant of summary judgment to insurers because Old White failed to satisfy the policy ... Keep Reading »
CGL Policies and Data Breaches: No Publication, No Coverage
As cyber hacking and phishing schemes become more common, one issue that is often raised is whether, and to what extent, damages resulting from these incidents fall within the coverage afforded under a standard commercial general liability policy. The United States District Court for the Middle District of Florida recently addressed this issue Innovak Int'l, Inc. v. Hanover Ins. Co., No. 8:16-CV-2453-MSS-JSS, (M.D. Fla. Nov. 17, 2017), and held that a data breach was not ... Keep Reading »
First Circuit: The Best Offense Is a Good Defense?
In Mount Vernon Fire Ins. Co. v. VisionAid, Inc., No. 15-1351P2-01A (1st Cir. Nov. 15, 2017), the First Circuit Court of Appeals ended long-running insurance coverage litigation arising from policyholder VisionAid, Inc.’s termination of a former vice president, Gary Sullivan. Sullivan sued his former employer, alleging age discrimination. VisionAid tendered the claim to its employment practices liability insurer, Mount Vernon Fire Insurance Company. Mount Vernon ... Keep Reading »
Florida Court Rejects Property Insurer’s Effort to Limit Assignment of Benefits
An assignment of benefits (AOB) is a legal tool that allows a third party to be paid for services performed for an insured property owner who would normally be reimbursed by the insurance company directly after making a claim. An AOB is commonly used when a property owner experiences a loss and contacts a contractor for assistance. Most AOB agreements allow the contractor to stand in the shoes of the property owner for insurance collection purposes. These agreements are ... Keep Reading »
War: What is it good for? Business Loss and the War Exclusion
In summer 2014, Israel and Hamas were engaged in armed conflict. Thousands of residents of Gaza and Israel were killed or injured, and much of Gaza City was destroyed by rocket fire and other heavy weapons. The Israeli Defense Force dispatched tens of thousands of ground troops to the area, and international attention from the United Nations and other interested parties, including the United States, focused on the “conflict.” But was it a “war?” The United States has ... Keep Reading »
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