Insurers Beware: Exposure Under 'Canceled' Policies
By Thomas GozdziakJanuary 9, 2018, 12:57 PM EST
Law360, New York (January 9, 2018, 12:57 PM EST) -- Some recent court decisions should serve as an important reminder to insurers to strictly comply with all policy cancellation requirements, no matter how hypertechnical they may seem, or risk liability exposure not only for the failure to pay claims made under that policy but also for bad faith.
At issue in O.P.H. of Las Vegas Inc. v. Oregon Mutual Insurance Co., 401 P.3d 218 (Nev. 2017), was the validity of Oregon Mutual Insurance Company’s (“OMI”) denial of the insured’s claim based upon the purported cancellation of...