5th Circ.'s Windstorm Ruling Holds Silver Lining For Insureds
Law360 (June 12, 2020, 6:10 PM EDT) -- A recent decision from the U.S. Court of Appeals for the Fifth Circuit held that a higher deductible applied (so as to bar recovery for the policyholder), but reaffirms that policies covering the peril of windstorms include damages due to heavy rains and flooding accompanying hurricanes. The decision also serves as a warning for policyholders with high deductibles to buy deductible buyback insurance before hurricane season strikes.
The Pan Am Equities Decision
Pan Am Equities Inc. v. Lexington Insurance Co. presented the issue of which deductible to apply under a commercial property policy. After Hurricane Harvey drenched the greater Houston area...
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