In This Issue:
- Federal Housing Finance Agency Proposes New Rules on Lender-Placed Insurance
- J.P. Morgan Decision Curtails the Phantom “Restitution Defense” to D&O Coverage
- Bad-Faith Claims
- ISO’s 2013 Additional Insured Endorsement Revisions
- Is Faulty Workmanship an Occurrence under a CGL policy? West Virginia Now Says Yea
- Muddying the Waters on Policy Stacking Law
- Excerpt from Hurricane Season Is Here: Is Your Insurance Program Ready for the Next Storm?:
Superstorm Sandy ripped across the East Coast, causing unprecedented damage to coastal and inland areas lying in its path. Making landfall near Atlantic City, N.J., the storm wreaked havoc from North Carolina to Connecticut, and as far inland as the Great Lakes. Sandy also caused tidal surges that inundated Lower Manhattan and flooded New York’s airports, knocked out critical infrastructure including power, rail, and subway systems, and destroyed tens of thousands of homes. The storm caused at least $50 billion in physical damage, while tens of thousands of businesses that suffered little or no physical damage nonetheless experienced catastrophic business interruption losses.
Please see full Newsletter below for more information.
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Topics: Additional Insured, Bad Faith, Business Interruption, Commercial General Liability Policies, D&O Insurance, Faulty Workmanship, FHFA, Hurricane Sandy, Insurers, ISOs, JPMorgan Chase, Lender-Placed Insurance, Natural Disasters, Occurrence, Policy Stacking, Professional Liability, Restitution
Published In: Business Organization Updates, Business Torts Updates, General Business Updates, Insurance Updates, Residential Real Estate Updates
DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.
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