First party insurance claims involving multiple perils present unique challenges when assessing whether an insurance policy provides coverage. For example, suppose an insurance policy covers damage resulting from fire, but...more
Property policies typically include an exclusion for loss caused by or resulting from earth movement. Some insurers will provide coverage for earth movement, but that coverage will usually have a sub-limit. For years,...more
Returning to our theme that nothing’s easy and everything keeps changing, here is one out of left field. Let’s talk PML and seismic risk. ASTM International, the market standard setting organization for everything from toilet...more
The jury is still out on whether hydraulic fracturing or “fracking” causes earthquakes, but carriers whose policies afford coverage for quakes have recently been denying such claims, asserting that they are excluded because...more
Before 2008, the greater Dallas Fort Worth area, known as the Fort Worth Basin, was almost entirely void of seismic activity. Between 1950 and 2008, the only seismic activity on record was an insignificant event that experts...more
Last month’s Napa earthquake served as a wake-up call for everyone in the Greater Bay Area. It was a reminder that the odds of an even more damaging earthquake in Northern California over the next 20 years are high....more
The earthquake that struck Northern California in August 2014 serves as a reminder of how quickly business policyholders can face devastating losses. In the aftermath of an earthquake, businesses may face pressing challenges,...more