NY High Court Says Deadline Unenforceable In Coverage Suit

Law360, New York (February 13, 2014, 3:36 PM EST) -- New York's highest court held Thursday that a normally reasonable requirement that policyholders bring coverage suits within two years had transformed into an unenforceable provision because it made coverage “valueless,” siding with the owner of an office building that suffered more than $1 million in fire damage.

The New York Court of Appeals weighed in on a dispute between Peerless Insurance Co. and Executive Plaza LLC, after the Second Circuit asked it to interpret a fire insurance policy stating property replacement costs would be reimbursed only...
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