Escaping The Shadow Of Mighty Midgets

Law360, New York (April 21, 2011, 12:20 PM EDT) -- In 2008, Bi-Economy Market Inc. v. Harleysville Insurance Co. of New York[1] and Panasia Estates Inc. v. Hudson Insurance Co.[2] shook up New York insurance coverage law when the New York Court of Appeals recognized for the first time that policyholders may recover consequential damages resulting from their insurer’s breach of their insurance policy.

As the Bi-Economy court explained, insurers are responsible for these damages because insurance proceeds are to be received “promptly so that in the aftermath of a calamitous event,” the policyholder can “get...
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