Property

  • September 03, 2021

    Snoqualmie Tribe Wins COVID-19 Insurance Claim For Casino

    A Washington state judge has ruled that the Snoqualmie Indian Tribe suffered a physical loss to its casino and restaurants from government-imposed closure orders due to the COVID-19 pandemic, granting the tribe an early win against Affiliated FM Insurance Co.

  • September 03, 2021

    Surfside Collapse Exposes Fla.'s Condo Insurability Problem

    The Sunshine State is already a magnet for hurricanes and other natural disasters, but the collapse of a Surfside, Florida, condominium building over the summer and subsequent liability questions for condo boards brought to the forefront the insurance industry's broader concerns over writing property and liability coverage across the state.

  • September 02, 2021

    Zurich American Must Face Hotelier's Virus Coverage Suit

    A Rhode Island federal judge ruled Thursday that Zurich American Insurance Co. can't escape a hotelier's coverage claims for COVID-19-related losses at the motion to dismiss stage, finding the case should move on to discovery. 

  • September 02, 2021

    Property Owner Cues Up High Court Arbitration Question

    The U.S. Supreme Court will be asked to review a Ninth Circuit decision permitting a group of British insurance underwriters to force arbitration of a dispute over coverage for property damage caused by Hurricane Harvey despite a state law barring the arbitration of such feuds.

  • September 02, 2021

    State Farm Fights Insured's Appraiser With Financial Interest

    State Farm urged the Florida Supreme Court Thursday to reverse a decision allowing insureds to select an appraiser with a financial stake in the appraisal award, arguing that it went against the policy requirement that appraisers be "disinterested."

  • September 02, 2021

    Hurricane Katrina's Impacts On Insurance, Property Markets

    Hurricane Ida roared into Louisiana on the 16th anniversary of Hurricane Katrina, and will be the new test on how damages from catastrophic storms are covered by insurance. Here, Law360 examines how insurers' reactions to Katrina continue to ripple through the industry and what it can mean for claims brought for damages caused by Ida.

  • September 02, 2021

    Toss Of Gallery's Virus Policy Suit Looks Safe In 2nd Circ.

    A Second Circuit panel clearly sided Thursday with a federal judge who found that COVID-19-related shutdowns in New York City were not a "direct physical loss" to an art gallery sufficient to trigger coverage under common business interruption insurance policy language.

  • September 02, 2021

    Waiver Eyed As Excess Insurers Seek To Duck NJ Virus Suit

    A New Jersey state judge on Thursday challenged excess insurers' position that certain policies' virus exclusions survived a waiver clause giving priority to a primary policy without such an exclusion, lending support to hospitality and recreational companies seeking coverage for losses related to the coronavirus outbreak.

  • September 02, 2021

    Wash. Insurance Chief On Credit Reports, Climate Change

    Washington Insurance Commissioner Mike Kreidler was first elected to the state's top insurance regulatory post 20 years ago, and he's still as passionate as ever about ensuring a healthy yet fair insurance market.

  • September 01, 2021

    Zurich Beats Fla. Event Venue's COVID-19 Coverage Bid

    A Florida federal judge has ruled that Zurich American Insurance Co. doesn't have to cover reception hall operator Map Legacy's losses amid the COVID-19 pandemic, following the Eleventh Circuit's influential Mama Jo's decision that the policyholder did not incur property damage.

  • September 01, 2021

    Calif. Insurance Chief Puts Insurers On Notice Over Wildfires

    California Insurance Commissioner Ricardo Lara told homeowner and renter insurers in the Golden State that they can't cancel or refuse to renew insurance coverage for communities currently dealing with wildfire emergencies, his office said Wednesday.

  • September 01, 2021

    Miami Eatery Denied Coverage In Pandemic Coverage Suit

    A Florida eatery isn't entitled to coverage for losses it sustained as a result of government pandemic restrictions, a federal court found, saying the restaurant didn't allege the kind of physical damage required for coverage under its all-risk policy.

  • September 01, 2021

    Court Says Land Swap May Be 'Win-Win' For Surfside Victims

    Survivors and relatives pushing for a memorial to be built on the site of June's deadly condominium tower collapse in Surfside, Florida, got a glimmer of hope Wednesday as a state judge expressed willingness to consider their proposal to swap the property for a nearby town plot they would then sell to help cover their losses.

  • August 31, 2021

    Cincinnati Notches Virus Coverage Win At 11th Circ.

    The Eleventh Circuit on Tuesday freed Cincinnati Insurance Co. from having to cover a Georgia dental clinic's COVID-19 business-interruption losses, becoming the second federal appellate court to side with insurers in the ongoing pandemic loss coverage dispute.

  • August 31, 2021

    Developer Loses COVID-19 Insurance Coverage Bid In Md.

    A Maryland federal judge on Tuesday handed a win to a Rhode Island-based insurance company in a dispute over COVID-19 coverage, ruling that a sports and entertainment real estate developer had not suffered "direct physical loss or damage" to its properties during the pandemic.

  • August 31, 2021

    Insurers Brace For Ida Claims Amid High Construction Costs

    Insurers and policyholders typically struggle over costs for wind and water damages from hurricanes, but a Fitch Ratings report issued Monday suggests increased construction labor and lumber costs during the pandemic could result in even higher claims costs for the insurance industry following Hurricane Ida.

  • August 31, 2021

    Chubb Sued Over 'Mission: Impossible' COVID Delay

    Paramount Pictures Corp. has sued a Chubb unit, accusing it of limiting coverage after production on "Mission: Impossible 7" was delayed by COVID-19 orders and outbreaks among the cast and crew.

  • August 31, 2021

    How Climate Change Is Heightening Hurricane Insurance Risk

    Sunday's landfall of Hurricane Ida in Louisiana as one of the most powerful storms to ever hit the U.S. underscores the challenges insurance carriers and policyholders face as climate change threatens to increase the frequency of the most destructive storms.

  • August 31, 2021

    Selective Must Pay $1M In Hail Damage Row, 8th Circ. Affirms

    The Eighth Circuit upheld a Minnesota federal judge's finding that a Selective unit must pay $1 million to repair damage to a home from a 2015 hailstorm, agreeing that the insurer acted in a bad faith when denying the claim.

  • August 31, 2021

    Hochul Names Ex-Obama Adviser To Be Top NY Financial Cop

    New York Gov. Kathy Hochul said Tuesday that she is nominating a former Obama administration economic adviser and onetime Sullivan & Cromwell LLP lawyer to serve as New York's top financial services regulator.

  • August 30, 2021

    Law360 MVP Awards Go To 182 Attys From 77 Firms

    The elite slate of attorneys chosen as Law360's 2021 MVPs have distinguished themselves from their peers by securing hard-earned successes in high-stakes litigation, complex global matters and record-breaking deals.

  • August 30, 2021

    Lloyd's Tells 11th Circ. To Toss Eatery's Virus Coverage Suit

    Certain Underwriters at Lloyd's London has asked the Eleventh Circuit to uphold a ruling finding that a Miami restaurant isn't entitled to coverage for pandemic losses, saying the eatery didn't show it sustained the kind of damage required.

  • August 30, 2021

    Original 'Cheers' Pub Can't Get Pandemic Insurance Coverage

    A Massachusetts federal judge has tossed a lawsuit seeking pandemic-related insurance coverage for the bar from the hit NBC sitcom "Cheers," ruling that the presence or threat of the coronavirus does not constitute a direct physical loss of, or damage to, the property where everybody knows your name.

  • August 27, 2021

    Hair Salon Franchise's COVID-19 Coverage Suit Clipped

    The owner of 20 franchised Great Clips hair salons in Missouri and Illinois couldn't show that its decision to shutter the salons in response to the COVID-19 pandemic constitutes a "direct physical loss" of its property under its business insurance policy, a Missouri federal judge has ruled.

  • August 27, 2021

    5th Circ. Turns To Texas High Court In Hail Coverage Suit

    The Fifth Circuit asked the Texas Supreme Court to weigh in on a lost hailstorm coverage suit filed by two companies against a Liberty Mutual unit, saying that it needed guidance on applying a state doctrine concerning damages caused by multiple sources.

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