Property

  • October 20, 2021

    Axis Capital Commits To Phasing Out Coal Business

    Ahead of the United Nations Climate Change Conference, Axis Capital Holdings Ltd. announced Wednesday that it would be phasing out insurance for and investments in the thermal coal business.

  • October 20, 2021

    4th Circ. Won't Turn To Md. High Court In Virus Coverage Row

    The Fourth Circuit declined Wednesday to certify to Maryland's highest court questions of whether the coronavirus causes physical damage required for property insurance coverage, dealing a defeat to a real estate developer appealing its virus coverage suit.

  • October 20, 2021

    Insurer Seeks Win In Michigan Salon's Virus Coverage Suit

    A Michigan hair salon that closed its doors in the early days of the COVID-19 pandemic has no claim to communicable disease insurance payouts, West Bend Mutual Insurance Co. argued Tuesday.

  • October 19, 2021

    Calif. Swim Club Sues Hartford Unit Over Virus Coverage

    A California swim club filed a putative class action Monday against a Hartford insurance unit, arguing that the club's temporary closure was a direct physical loss that would qualify it for coverage.

  • October 19, 2021

    Commercial Insurance Market To Grow By $1T, Report Says

    The global commercial insurance market is expected to grow by almost $1 trillion in the next 10 years, the research firm Allied Market Research said in a report released Tuesday, with the market for liability insurance policies expected to grow the most.

  • October 19, 2021

    Dentist Tells 9th Circ. To Revive Virus Coverage Suit

    A federal judge ignored Washington state standards on the interpretation of insurance policies when she tossed COVID-19 coverage claims against Aspen American Insurance Co., a Seattle dentist told the Ninth Circuit on Monday.

  • October 19, 2021

    Hair Salon's COVID-19 Losses Not Covered, Judge Says

    A Virginia federal judge dismissed a hair salon's claim seeking $150,000 from a Hartford unit for business losses caused by the COVID-19 pandemic, finding that the policy's virus exclusion unambiguously barred coverage.

  • October 19, 2021

    Tri-State Hospitals Lose Virus Coverage Fight With Zurich

    A tri-state area hospital system lost its bid for coverage from Zurich American Insurance Co. for pandemic losses, with a New Jersey state court finding the system failed to show physical damage to its properties that would qualify it for coverage.

  • October 18, 2021

    Wash. Insurance Chief Moving Forward With Credit Score Ban

    Washington Insurance Commissioner Mike Kreidler is moving ahead with his plan to issue a three-year ban to stop insurance companies from using credit scoring to price personal lines policies, after a state court judge halted the regulator's emergency order earlier this month.

  • October 18, 2021

    Hartford Ducks Coverage For Trade Show Biz's Virus Losses

    A Tennessee trade show business' cancellation of conferences and events due to the coronavirus pandemic and related government restrictions aren't covered by its insurance policy with a Hartford unit, a California federal judge ruled, saying there wasn't any physical loss or damage.

  • October 18, 2021

    Fla. High Court Punts On Case Over Disinterested Appraisers

    The Florida Supreme Court reversed course Monday, opting to not entertain the appeal of a ruling that allows insureds to select an appraiser with a financial stake in the appraisal award despite hearing oral arguments last month.

  • October 18, 2021

    Baseball Teams Ask 9th Circ. For Another At-Bat In Virus Suit

    The owners of 19 minor league baseball teams asked the Ninth Circuit to rehear their arguments on whether their losses due to the COVID-19 pandemic are barred by virus exclusions, arguing that the court's previous ruling in favor of three Nationwide units contradicts other causation decisions.

  • October 18, 2021

    Ill. Judge Trims Claims in Detroit Hotel's COVID Coverage Bid

    The owner of a Detroit hotel that hosted NBA star Rudy Gobert just before the revelation of his league-shaking 2020 COVID-19 infection can't claim that the virus caused physical damage to the premises, an Illinois state judge ruled on Friday.

  • October 18, 2021

    New Excess Insurance Co. To Land In Richmond, Va.

    Excess and surplus insurer Richmond National Group Inc. is forming a new insurance company focusing on the property and casualty insurance market, the insurer announced.

  • October 18, 2021

    Insurers Get Discovery In Colonial Pipeline Explosion Suit

    An Alabama federal judge told two Liberty Mutual subsidiaries to take discovery in their coverage suit over a fatal 2016 Colonial Pipeline explosion, saying "true facts" introduced by the country's largest pipeline system could affect whether professional liability and pollution exclusions bar coverage.

  • October 15, 2021

    Chubb Beats Simon Wiesenthal Center In Virus Coverage Suit

    The Simon Wiesenthal Center, a human rights organization, lost its bid for coverage of its pandemic losses, after a California federal judge said the center failed to show that it sustained the type of insurable damage under its Chubb policy.

  • October 15, 2021

    Raymour & Flanigan Loses Bid For COVID-19 Coverage

    The furniture retail chain Raymour & Flanigan lost its bid for COVID-19 coverage after a New York state judge dismissed its suit against a group of insurers, finding that government orders, not the virus, caused the chain's losses.

  • October 15, 2021

    NC Judge Issues Split Hurricane Florence Coverage Ruling

    A North Carolina judge tossed a homeowners association's suit against excess Lloyd's of London underwriters, but kept claims against primary underwriters, over damage caused by Hurricane Florence to a large oceanfront property and hundreds of condominiums.

  • October 15, 2021

    Insurance Industry Could Be Climate Leader, State Chiefs Say

    The insurance industry has an opportunity and responsibility to be a private-sector leader in mitigating climate change given its catastrophe experience, its breadth of historical data and its work on insurance product development, innovation and investment, experts said Thursday.

  • October 15, 2021

    Pot Farm's $3.5M Blaze Damage Has Insurer Suing Over Lamp

    Trisura Specialty Insurance Co. is suing several industrial lighting companies to recoup costs it spent covering losses that a Detroit marijuana grower sustained when a burst lamp caused more than $3.5 million in fire damage to its building and contents.

  • October 14, 2021

    Calif. Insurance Commissioner Appoints 9 To State Boards

    The California insurance commissioner announced nine appointments to state boards, including five members to the insurance diversity task force.

  • October 14, 2021

    Carrier Groups Urge Kreidler To Kill Proposed Credit Score Ban

    Several prominent trade groups representing insurance carriers called Thursday for Washington Insurance Commissioner Mike Kreidler to withdraw a proposed permanent rule that would ban the use of credit history in pricing certain policies.

  • October 14, 2021

    Chicago Limousine Co.'s Virus Coverage Suit Hits Roadblock

    The presence of COVID-19-positive individuals didn't physically alter a Chicago limousine company's premises, a federal judge ruled Thursday, tossing the suit against Cincinnati Insurance and an insurance agent and holding that there wasn't any physical loss or damage to trigger coverage.

  • October 14, 2021

    Chiropractor Sues State Farm Seeking Virus Coverage

    A Pennsylvania chiropractic clinic brought a proposed class action against State Farm Fire and Casualty Co. for coverage of pandemic-related losses, saying government restrictions caused the type of physical loss required for coverage under its "all-risk" policy.

  • October 14, 2021

    Steak Chain Plans Revised Virus Suit After Judge's Dismissal

    An Arizona federal judge dismissed a COVID-19 coverage lawsuit from the owner of steakhouses and restaurants in Arizona, Illinois and Texas, finding that the loss of use of its buildings did not amount to a "direct physical loss or damage" that would qualify it for coverage from Allianz and Axa units.

Expert Analysis

  • New Fla. Atty Fee Law May Be Boon To Property Insurers

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    A new Florida law designed to curb property insurance litigation should add some balance to a historically hostile environment for insurers by shifting the onus onto policyholders to prove entitlement to attorney fees, say attorneys at Zelle.

  • Embracing ESG: AIG Counsel Talks SEC Risk Alert

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    As the U.S. Securities and Exchange Commission responds to the changing landscape on environmental, social and corporate governance investing, including with its recent risk alert, it is imperative that the regulator take a measured approach, says Kate Fuentes at AIG.

  • Insurance Commissioner's Agenda: Wis. Tackles Climate Risk

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    Wisconsin Commissioner of Insurance Mark Afable talks about educating consumers on potential climate-risk coverage gaps and mitigation efforts, and encouraging insurers to recognize the latter in underwriting, in the face of increasingly frequent and severe weather disasters.

  • Insurer Considerations For Post-Pandemic Virtual Mediation

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    To determine whether to continue engaging in virtual mediations after the pandemic ends, insurers should weigh the format's challenges against its benefits, including decreased hostility between parties, time and cost, and increased client participation, say Jennifer Gibbs and Amanda Rodriguez at Zelle.

  • The Right Condo Governance Provisions Can Enhance Safety

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    Though condominium and community governance documents cannot prevent a structural failure, such as the Champlain Towers tragedy, developers and their lawyers can draft these documents to better educate board members and remove obstacles to preserving community assets, says Bob Burton at Winstead.

  • Risks To Consider For Commercial Real Estate Gap Closings

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    The use of the gap closing mechanism in commercial real estate transactions — when there is a delay between a purchase and the recording of documents — has been increasing amid the pandemic, but certain complications can arise for buyers when an intervening matter influences a title's quality, says Jennifer Ioli at Sherin and Lodgen.

  • NY Ruling Should Make Counsel More Cautious In Emails

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    A recent New York Appellate Division decision, Philadelphia Insurance v. Kendall, makes it much more likely that a settlement could be effectuated by simple email exchanges without more formal written documentation memorializing all the terms of the settlement, says Christopher Gorman at Abrams Fensterman.

  • Where Insurance Coverage For Condo Collapse Gets Murky

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    Property and casualty coverage for the Champlain Towers tragedy may be complicated, since different versions of collapse coverage are found in different policies, both for the individual condo owners and the condominium association, say Glenn Jacobson and Mark Binsky at Abrams Gorelick.

  • Courts Should Heed Contract Law In COVID-19 Physical Loss

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    While a recent Law360 guest article urged courts to adopt the particle theory of coverage in deciding COVID-19-related property loss and damage claims, this approach ignores the intent, function and language of commercial insurance policies — not to mention the science itself, say Adam Fleischer and Elisabeth Ross at BatesCarey.

  • COVID Insurance Rulings Are Misinterpreting 'Physical Loss'

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    Recent court decisions interpreting "direct physical loss" clauses to deny COVID-19 business interruption recovery where the subject property has not been structurally altered contradict the purpose of all-risks insurance, the ordinary meaning of the operative policy language and pre-pandemic case law, says ​​​​​​​Lee Epstein at Flaster Greenberg.

  • Courts Should Defer To Science On COVID-19 Physical Loss

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    As litigation of pandemic-related business interruption claims continues nationwide, the insurance carriers and courts adopting the most conservative interpretation of "physical loss or damage" — the basic trigger for business interruption coverage — are making erroneous assumptions about a complex physical phenomenon, says Micah Skidmore at Haynes and Boone.

  • An Insurer's Guide To Policyholder Bankruptcy

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    Given the increased likelihood of policyholders filing bankruptcy petitions in the wake of the pandemic, insurance professionals must be aware of five basic principles when dealing with an insured in bankruptcy, says Eric Fitzgerald at Goldberg Segalla.

  • NJ Policyholders Could Still See Recovery For COVID Losses

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    Although New Jersey state and federal courts have decided the majority of dispositive motions in COVID-19 business interruption insurance cases in favor of insurers, policyholders retain a plausible path to recovery depending on the nature of their loss and the precise policy language at issue, say Lee Epstein and Matthew Goldstein at Flaster Greenberg.

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