Richard Bennett

Richard Bennett

Cozen O'Connor

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New York Adopts a Broad Definition of Covered Vandalism

On October 17, New York’s highest court held that an insured could recover for a “vandalism” loss without showing that the vandal in question intended to damage the insured’s property. Indeed, proof of intent to cause...more

10/29/2013 - Evidence Property Damage Standard of Proof

Eighth Circuit Adopts An Expansive Definition of Newly Acquired Property

On July 23, a unanimous panel of the 8th Circuit held that it was reasonable to contend that a port terminal, where a shipping company hired by the policyholder had stored a piece of the insured’s equipment for six days,...more

8/6/2013 - Acquisitions Ambiguous Heavy Equipment Leases Property Ownership Summary Judgment

Florida Requires Replacement Cost Payments Include Profit and Overhead Even if No Repairs Have Been Made

On July 3, 2013, the Florida Supreme Court held that an insurer making a replacement cost payment to a homeowner who had yet to repair the damaged property could not withhold payment of that component of replacement cost that...more

7/16/2013 - Compensatory Damages Economic Damages Insurers Legal Costs Lost Profits

Florida Bars Use of Extrinsic Evidence to Resolve Insurance Policy Ambiguities

On July 3, 2013, a closely divided Florida Supreme Court held that judges were required to interpret ambiguous policy language strictly against the insurer and in favor of coverage, and that courts should not first attempt to...more

7/16/2013 - Ambiguous Extrinsic Evidence Insureds Insurers Policy Limits

Connecticut Allows Insurance Department to Establish a Mediation Program for Claims Stemming from Catastrophe

In February and March, New York and New Jersey instituted voluntary mediation programs for open and unresolved Superstorm Sandy insurance claims. On Friday, June 21, 2013, Connecticut’s Governor Daniel Malloy signed a measure...more

7/2/2013 - Hurricane Sandy Insurers Mediation Natural Disasters

Massachusetts Mandates Prompt Investigation, Encourages Insurers to Offer Deadline Extensions to Bombing Victims

On Monday of this week, the Massachusetts’s Division of Insurance issued a bulletin mandating prompt investigation of business interruption, property damage and medical insurance claims by policyholders victimized by the...more

5/3/2013 - Boston Bombings Deadlines Extensions Insurers Investigations

New Jersey Establishes a Mediation Program for Open Superstorm Sandy Insurance Claims, Notice of Which Must Be Provided to...

New Jersey has now joined New York in instituting a voluntary mediation program for insured victims of Superstorm Sandy with “open and unresolved first-party insurance claims.” The program became operative with the issuance...more

3/29/2013 - American Arbitration Association Appraisal Flood Insurance Hurricane Sandy Mediation Notice Requirements Property Insurance

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