Recovering Pre-Award Interest On Appraisal Awards In Minn.

By Matthew Fortin and Charles Rocco (October 26, 2017, 10:44 AM EDT) -- In Poehler v. Cincinnati Insurance Company, 899 N.W.2d 135 (Minn. 2017), the Minnesota Supreme Court weighed in on the issue of recovery of pre-award interest on an appraisal award. Specifically, the court analyzed whether pre-award interest is recoverable in the absence of a breach of contract or wrongdoing by the insurer (yes), whether the applicable insurance policy's loss payment provision precluded recovery of pre-award interest (no) and whether pre-award interest is precluded pursuant to Minnesota's standard fire insurance policy (no). The court's decision was arguably consistent with Minnesota law, but raises interesting issues for insurers and policyholders alike....

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