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Bad Faith Sentinel - May 2014

In This Issue: - Northern District of New York: Primary Insurer That Waited Nine Years to Tender Policy Limits to Injured Plaintiff Was Liable to Excess Carrier for Bad Faith - Middle District of Pennsylvania:...more

Eastern District of New York Dismisses Bad Faith Claims in Dispute Over Property Damage Caused by Hurricane Sandy

433 Main St. Realty, LLC v. Darwin Nat’l Assurance Co., No. 14-cv-587 (NGG) (VMS) (E.D.N.Y. Apr. 22, 2014) - Eastern District of New York dismisses claims for breach of the covenant of good faith and fair dealing and...more

Superstorm Sandy and Con Edison’s Power Shutdown: Lessons from Johnson Gallagher

In the wake of Superstorm Sandy, property insurers have repeatedly denied coverage for business owners in lower Manhattan – arguing that ConEd intentionally cut off power to its networks and that flooding damaged ConEd’s...more

Insurance Recovery Law -- Jan 17, 2014

N.Y. Court Rules In Deductible Battle For Flood Damage Caused By Sandy - Why it matters: The destruction left in the wake of Superstorm Sandy has resulted in a mess of insurance battles for policyholders as well. In a...more

Don’t Let The Grinch Steal Your Holiday Season: Preserving Your Right To Rebuild Your Business After A Disaster

The one-year anniversary of 2012’s Hurricane Sandy has just passed, which is a fitting occasion to think about how or if your business could be rebuilt after suffering complete or near destruction. Hurricane Sandy,...more

A Superstorm Sandy Retrospective: How the Actions of New York Regulators May Shape Responses to Future Natural Disasters

A year after Superstorm Sandy came ashore, the New York Department of Financial Services (Department) issued Circular Letter No 8 of 2013 to inform New York licensed property/casualty insurers of the regulatory standards they...more

One Year Later, Superstorm Sandy Still Offers Viable Recovery Opportunities for Insurers

The one-year anniversary of Superstorm Sandy serves as a reminder to property insurers that key deadlines are approaching that can directly affect recovery efforts. Viable subrogation opportunities still exist, but carriers...more

A Call for Forward-looking Disaster Risk Evaluation and Greater Private Sector Involvement amid Surveys, Estimates and Statistics

In recent years, Mother Nature has taken a toll on the insurance industry. Superstorm Sandy cost the United States approximately $70 billion in direct damages to business owners and homeowners in the storm’s path and lost...more

Stronger NJ Business Loan Program – Helping New Jersey Small Businesses Rebuild and Recover Post-Superstorm Sandy

New Jersey small businesses devastated by Superstorm Sandy now have a new source of economic assistance. Approved by the New Jersey Economic Development Authority on June 11 2013, the Stronger NJ Business Loan Program went...more

Christie Administration Issues Emergency Rule to Expedite Recovery and Rebuilding

Emergency Rule Revisions Cut Red Tape and Streamline State Permits for Vital Rebuilding Projects. - On April 19, 2013, DEP issued emergency rules intended to expedite the process of repairing and rebuilding in the wake...more

Insurance Coverage In The Wake Of Hurricane Sandy

Anyone living in the New York Metro Area will not soon forget hurricane Sandy. Sandy may go down as the worst Atlantic storm to ever hit the eastern United States. It may ultimately also prove to be one of the most expensive,...more

What To Know About Obtaining Civil Authority Coverage

Originally published in Insurance Law360 on January 23, 2013. As Superstorm Sandy moved northward from the Caribbean off the coast of the southeastern United States on a predicted path to the mid-Atlantic, states and...more

Tax Issues Stirred Up by Hurricane Sandy

In late October, Hurricane Sandy caused significant damage to many businesses throughout the Northeastern United States. In the past, business taxpayers experiencing similar storm damage would have focused primarily on the...more

A Few Thoughts After “Frankenstorm”

The major impact that Hurricane Sandy had on the East Coast is a good reminder of the importance of the maintenance of sufficient insurance. All condominium projects in Texas (whether they operate under the current Uniform...more

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