After Sandy, NY Insurers May Lose Favored Litigation Tool
Law360, New York (May 21, 2013, 8:43 PM EDT) -- A New York Democrat on Friday proposed outlawing policy language that insurers use to deny coverage for losses that stem from both insured and excluded causes, legislation inspired by Superstorm Sandy that would nix insurer-friendly precedent in New York and bring it in line with more catastrophe-prone states.
New York Assemblyman Phil Goldfeder, D-Rockaway Beach, introduced a bill that would prevent insurance companies from using anti-concurrent clauses, which wipe out coverage when a loss has several causes and one of those causes is excluded under a policy.
The anti-concurrent clause often comes into play when there's property damage from both wind,...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!