Commercial Real Estate Insurance

Read Commercial Real Estate Law updates, news, and legal commentary from leading lawyers and law firms:
News & Analysis as of

Sandy in the Courts

Hurricane Sandy (also known as Superstorm Sandy) struck the northeast coast of the United States in October 2012, causing an estimated $65 billion* in property damage, including wind damage, severe flooding and power outages....more

In Iowa, Rain is What Gene Kelly Sang In – Not Water From a Burst Drain Pipe

Earlier this year, an Iowa court recognized that rain becomes rainwater once it has fallen, and it held that policy language excluding loss caused by “rain” – without more – will not operate to bar coverage for water from a...more

Insurance and Reinsurance Alert: Follow the Settlements Clauses revisited.

In autumn 2011, Thailand suffered severe floods. Among the properties damaged were shops and distribution centres owed by a subsidiary of Tesco. Tesco was insured against property damage and BI losses in Thailand under a...more

Why Texas Insurers Need To Report Fraudulent Hail Claims

In Amarillo, Texas, with clipboard, camera and marking chalk in hand, a seasoned insurance company adjuster climbs his ladder onto the roof of an apartment building. He’s looking for hail damage following a recent hailstorm...more

New York Court: Storm Surge is a Species of Excluded Flood

One of the most litigated issues in the Gulf States in the wake of Hurricane Katrina was whether flood exclusions bar coverage for loss by storm surge. The courts ultimately decided that the answer was yes....more

New York Court Finds Delay In Completion Losses Are Subject To Flood Annual Aggregate Limit

In El-Ad 250 West LLC v. Zurich American Ins. Co., 2014 N.Y. Misc. LEXIS 2838 (June 27, 2014), a New York court analyzed the application of various provisions contained in a Builders Risk Insurance Policy (the “Policy”)...more

New York Court: All Sandy Losses, Including “Downstream” Financial Ones, Capped By Annual Aggregate Limit For Flood

Superstorm Sandy jurisprudence is starting to shed light on some unresolved issues in the effected states. In El-Ad 250 West LLC v. Zurich American Ins. Co., — N.Y.S.2d —, 2014 WL 2931058 (N.Y.Cty., June 27, 2014), a New...more

Policyholders Must Be Vigilant for Construction Defect Exclusions, Including For Impaired Property to Combat Insurance Companies’...

Continuing the most recent trend in coverage litigation, insurance companies are increasingly engaging “Big Law” firms to develop legal arguments for narrower interpretation of their policies when troublesome claims threaten...more

Donald Trump Sanctioned for Failure to Disclose Insurance Policy In Ft. Lauderdale Condo-Hotel Case

Last week, Judge Kathleen Williams of the U.S. District Court for the Southern District of Florida granted plaintiffs’ motion for sanctions against Donald Trump for his initial failure to disclose a relevant insurance policy...more

Thoughts On Mortgagee Title Insurance Policies

Banks are, once again, making real estate secured loans in Florida. Those in the industry will undoubtedly be aware of the fact that most lenders require a mortgagee title insurance policy to insure their mortgage lien on...more

Provision in Lender's Title Insurance Policy Reducing Amount of Insurance by "Payments Made" Does Not Include Lender's Full Credit...

In the case of Bank of Idaho v. First American Title released June 17, 2014, the Idaho Supreme Court covered some new ground and revisited some old ground....more

California Court: An Insurance Claim for Feng Shui Is Not Harmonious Qi

Feng shui is a Chinese philosophical system that supposedly orients buildings and their contents in an auspicious manner. Last month in Patel v. American Economy Ins. Co., — F.Supp.2d —, 2014 WL 1862211 (N.D. Cal., May 8,...more

Not Feeling It: Court Nixes Claim for Feng Shui Fees and Finds No Bad Faith

In Patel v. American Economy Ins. Co., — F. Supp. 2d. —, 2014 WL 1862211 (N.D. Cal. May 8, 2014), the U.S. District Court for the Northern District of California granted the insurer’s motion for partial summary judgment,...more

West Virginia Federal Court Denies Summary Judgment To Insurer On Hail And Water Damage Claim

The U.S. District Court for the Northern District of West Virginia, in FA Mgmt. v. Great Am. Ins. Co., 2014 U.S. Dist. LEXIS 75912, 2 (N.D. W. Va. June 4, 2014), was presented with an insurer’s motion for summary judgment...more

Washington Court of Appeals Holds No Duty to Defend: An Invitation to Initiate Cleanup Is Not A Suit

On June 2, 2014, the Washington State Court of Appeals issued a published opinion regarding what constitutes a “suit” in the context of environmental liability claims under the Model Toxics Control Act (MTCA). The court held...more

HUD Issues New Handbook for Long Term Care Financing Under Section 232

On May 22, 2014, HUD published a new Handbook covering its Section 232 Healthcare Insurance Mortgage Program, which insures HUD-approved lenders against financial loss from mortgage loan defaults in loans to qualifying long...more

Appellate Court Notes

AC35802 - Estate of Haburey v. Winchester - Widow was allowed to claim spousal benefits for deceased employee who worked at municipal sewage treatment facility. Commissioner could have properly found that exposure to...more

Bad Faith Claim Against Insurer Ruled Unsustainable by New York Federal Courts Where Based on Same Facts as Breach of Contract...

Two recent New York federal court decisions – 433 Main Street Realty, et al. v. Darwin National Assurance Co., No. 14-cv-587 (NGG) (VMS) (E.D.N.Y. Apr. 22, 2014) and County of Orange v. The Travelers Indemnity Co. No....more

Insurance and Reinsurance Update: Re-reading the Riot Act (again): Police liable for consequential losses under the Riot (Damages)...

As if a lecture at the Police Federation Conference from the Home Secretary wasn't enough, the police have also this week received the Court of Appeal's reading of the riot act. In a decision that opens the door for insurers...more

Insurance recovery issues following Vietnam unrest

Recent turmoil and violence at manufacturing parks throughout Vietnam over the last few weeks is impacting both local and global manufacturers and the complex supply chains currently utilised by MNCs could mean relatively...more

Middle District of Pennsylvania: Neither Unprofessionalism of Lower-Level Claims Employees Nor Failure to Interview Insured’s...

Honesdale Volunteer Ambulance Corp. Inc. v. Am. Alternative Ins. Corp., CIV.A. 3:11-1488, 2014 WL 1203317 (M.D. Pa. Mar. 24, 2014) - Middle District of Pennsylvania grants summary judgment on bad faith claim where...more

Estimates vs. Bids: Determining Insurer Obligation

The typical property insurance claim begins with notification of a loss from the insured or its broker. Thereafter, the carrier sends out an adjuster to investigate the loss and determine whether, and to what extent, coverage...more

Real Estate Tip – When a Title Insurer’s Coverage Isn’t

Frequently, policyholders sue their title insurance companies in order to determine whether a claim is covered and to force the company to pay any loss. Obtaining a court order confirming that a claimed loss is covered may...more

Update on 2013 Amendments to the Oregon Environmental Cleanup Assistance Act

In June 2013, the Governor of Oregon signed into law Senate Bill 814, which created sweeping reforms on environmental claims handling regulations and available remedies for insureds facing liability for cleanup of...more

Texas Court Addresses Vacancy Clause In Commercial Property Policy

On April 29, 2014, the Texas Court of Appeals in ACGS Marine Ins. Co. v. Spring Ctr., Inc., 2014 Tex. App. LEXIS 4581 (Tex. Ct. App. Houston 2014) issued a decision examining a Vacancy Clause in a commercial property policy. ...more

272 Results
|
View per page
Page: of 11

Follow Commercial Real Estate Updates on: