NJ Justices Send 'Warning Call' To Insureds On Late Notice

By Jeff Sistrunk (February 11, 2016, 9:25 PM EST) -- The New Jersey high court's ruling Thursday that National Union doesn't have to show it was harmed by a policyholder's late notice of a lawsuit in order to deny coverage sends a "warning call" to insureds to carefully comply with their policies' notice provisions, but attorneys say the decision's reach could be limited because the case involved a sophisticated corporate policyholder.

In a unanimous decision, the New Jersey Supreme Court affirmed an appeals court's ruling that National Union Fire Insurance Co. of Pittsburgh, Pa., doesn't have to cover policyholder First Independent Financial Group's settlement of a suit accusing it of backing...

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