News & Analysis as of

Property Damage

Reed Smith 2017 Southern California Wildfires Relief Resources Guide

by Reed Smith on

Though the wildfires continue to burn across California, insurance industry insiders have estimated that the reconstruction cost value for homes potentially at risk in the Santa Barbara, Ventura, Los Angeles, Riverside, and...more

Florida Court Rejects Property Insurer’s Effort To Limit Assignment Of Benefits

by Carlton Fields on

An assignment of benefits (AOB) is a legal tool that allows a third party to be paid for services performed for an insured property owner who would normally be reimbursed by the insurance company directly after making a...more

2017 Hurricane Season the Costliest on Record

by Locke Lord LLP on

The 2017 United States Atlantic hurricane season, which officially ended on November 30, was the most expensive ever according to one report. Disaster modelers Chuck Watson and Mark Johnson concluded that total damages for...more

Firing On All Cylinders

by Locke Lord LLP on

The wildfires raging in Northern California are already the worst in the state’s history. The risk of cataclysmic fires is greater in Southern California, but the elements (fierce winds, high temperatures, and low humidity)...more

Replace, Cancel or Get Burned: Sandy’s Electrical Wiring Lesson for 2017 Hurricane Claims

by Wilson Elser on

Those who have homes or spend time at the “Jersey shore” cannot help but be reminded of Superstorm Sandy during this brutal 2017 hurricane season. Sandy crashed into New Jersey on October 29, 2012, about seven miles north of...more

Recent Victories for PK Law Flood Team

by Pessin Katz Law, P.A. on

The PK Law Flood Team handles litigation for a variety of carriers in several jurisdictions including federal and state courts in Maryland, Pennsylvania, New Jersey, New York, New Hampshire, Tennessee, North Carolina,...more

“Myopic” Ruling Limits Policyholders’ Ability to Recover for Common Law Bad Faith in West Virginia

by Reed Smith on

The Supreme Court of Appeals of West Virginia has made it harder for policyholders to prevail on claims of common law bad faith against insurers in that state. In State of West Virginia ex rel. State Auto Property Insurance...more

Don't Miss the Diamonds in the (Aggregate) Rough

Time and time again, property carriers insist on closing high quality subrogation recovery files because they see that their insured has yet to hit the policy aggregate deductible. Policy aggregate deductibles are becoming...more

State Appeals Courts Rule on ‘That Particular Part’ Exclusions

by Farella Braun + Martel LLP on

Two recent cases from separate California state courts correctly interpret the phrase “that particular part” and apply it in its intended narrow sense. This is good news for contractors and is in contrast to some recent...more

Arizona District Court Denies Motion to Remand in Bad Faith Case, Despite Plaintiff Seeking Only $57,000 in Compensatory Damages

by Jaburg Wilk on

The Holding - In Hoarau v. Safeco Ins. Co. of America, 2017 WL 3328078 (D.Ariz. August 4, 2017), the Arizona District Court denied an insured's Motion to Remand in an insurance bad faith, punitive damages, and declaratory...more

Congress Moving on Re-authorization and Reform of National Flood Insurance Program

Just in time for Thanksgiving, the U.S. House of Representatives voted last Tuesday to approve House Resolution 2874 entitled the “21st Century Flood Reform Act.” The Act must still pass the Senate and be signed by the...more

Spilman Alert - Breaking Insights: Shutting Another Door on Suing Insurance Companies in West Virginia

The West Virginia Supreme Court of Appeals recently closed an avenue for bad faith claims. In this case, the insured, CMD, sued its own liability insurance company, State Auto, for not settling the claims asserted against it...more

Resolving The Multiple Peril Puzzle In First Party Insurance Claims

by Rumberger Kirk & Caldwell on

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

National Flood Insurance Program Is Relieved Of $16 Billion Debt

by Carlton Fields on

On October 26, 2017, President Donald Trump signed H.R. 2266, a disaster relief bill. Pursuant to section 308 of the bill, the Department of the Treasury will forgive $16 billion in debt owed by FEMA under the National Flood...more

Property Damage, Occurrences, Delays, Offsets and Fees. California Decision is a Smorgasbord of Construction Insurance Issues

I read once that 97 percent of cases never go to trial. However, there are still the ones that do. And, then, there are the ones that do both. The following case, Global Modular, Inc. v. Kadena Pacific, Inc., California Court...more

Arizona Allows Insured to Avoid Removal by Naming Adjuster as Defendant

by Jaburg Wilk on

In Chukly v. American Family Mut. Ins. Co., 2017 WL 3262541 (D.Ariz. Aug. 1, 2017) (Order), a breach of contract and insurance bad faith case arising from a homeowners claim after a microburst and “massive rain,” the Arizona...more

Contingency Fee Multipliers: Florida Supreme Court Rejects Rare and Exceptional Circumstances Requirement

Contingency fee multipliers increase attorney fee awards substantially. The general custom in American law is that each party is responsible for his or her own attorney’s fees, regardless of the outcome of the action. See...more

New Jersey’s Manifestation Destiny: Appellate Division Applies Continuous Trigger to Claims for Progressive Third-Party Property...

by K&L Gates LLP on

The New Jersey Appellate Division (the “Appellate Division”) recently issued a ruling in Air Master & Cooling Inc., v. Selective Insurance Co. of America (“Air Master”) applying the “continuous trigger” theory to third-party...more

Claims Stemming from Government Regulated Flooding After Hurricane Harvey

by Zelle LLP on

In August, Hurricane Harvey directly hit the city of Houston, leaving substantial wind and flood damage in its wake. Many home and business owners who avoided flood damage breathed a sigh of relief on August 28 when the...more

In Re: Hurricane Harvey, Inverse Condemnation And Potential Subrogation Actions

by Cozen O'Connor on

I. OVERVIEW - On August 25, 2017, Hurricane Harvey made landfall near Rockport, Texas as a Category 4 Atlantic hurricane. It then stalled over Houston. After landfall, winds diminished but precipitation did not, and over...more

Disaster Losses and Gains for Business or Employee Property

by Moskowitz LLP on

I have business property that was destroyed in a disaster. Is the tax loss calculated the same way for business property as for personal use property?...more

Calculating Gain from Reimbursement for Loss of Personal Use Property

by Moskowitz LLP on

The proceeds from my insurance coverage were more than the adjusted basis of the property I lost but less than the fair market value. Does that mean I can't take a tax deduction?...more

Claiming Disaster Loss Deductions for Personal Use Property

by Moskowitz LLP on

How do I calculate my disaster loss? Take the lesser of the adjusted basis of the property, or the decrease in fair market value due to the disaster, and subtract any insurance or other reimbursement you received or expect...more

National Flood Insurance Program Reauthorized Through December 8, 2017

by Carlton Fields on

On September 8, 2017, Congress passed legislation extending the National Flood Insurance Program until December 8, 2017. The program was set to expire at the end of September. ...more

Massachusetts Reference Award and Alleged Chapter 93A Violation Addressed By Federal District Court Opinion

The Massachusetts reference process is a creature of statute designed to provide an expeditious method to resolve disputes over the amount of loss covered by a property insurance policy. While a reference panel cannot decide...more

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