10 Issues For Property Insurers Of Hard-Luck Insureds
Law360, New York (July 19, 2012, 1:24 PM EDT) -- Navigating the foreclosure and/or bankruptcy process while adjusting or litigating a first-party property insurance claim can cause significant complications for insurance carriers and the attorneys who represent them. Below is a list of issues to be aware of and consider when the insured is in financial straits.
1. Insurable Interest
The simple question of “who had an insurable interest at the time of the loss” is typically a straightforward element of an insurance coverage dispute. When the insured is facing foreclosure or bankruptcy, however, this simple...