News & Analysis as of

Property Damage Insurance Industry

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

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

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

New Jersey Court: Continuous Trigger Ends When Nature of Damage Is Known

by Cozen O'Connor on

Last week, the New Jersey Appellate Division issued a decision that may have a significant impact on insurance coverage for progressive property damage claims in the state. In Air Master & Cooling, Inc. v. Selective Ins. Co....more

NJ Courts Continue Expansion Of Insurance Coverage For Construction Defects: “Continuous Trigger” Doctrine Applied

by Cole Schotz on

New Jersey courts are continuing their trend of extending insurance coverage for third-party construction defect claims. Following last year’s NJ Supreme Court decision in Cypress Point Condo. Ass’n, Inc. v. Adria Towers,...more

Trigger for Hurricane and Named Storm Deductibles

Recent damage from Hurricanes Harvey, Irma, and Maria have focused attention on special “named storm” and “hurricane” deductible endorsements found in most property insurance policies issued for coastal areas. Such...more

Federal Judge finds post loss assignment of benefits proper under Pennsylvania law

In a recent opinion, Judge Schmehl of the Eastern District of Pennsylvania denied a forced placed insurer’s Motion to Dismiss a suit brought by the assignee of a homeowner for water damage to the home. In Williams v....more

Washed Away: What Rights Do You Have When Your Home is Flooded?

by Gray Reed & McGraw on

Bill Deron bought a 100-acre tract next to a creek outside the City of Houston. Deron planned to build a subdivision where some of the homes abut a creek. The other homes would sit about 15 feet higher than the creekside...more

Alabama and Mississippi Insurance Law Questions Following Hurricane Nate

Hurricane Nate made landfall on the Mississippi Gulf Coast near the city of Biloxi on Sunday, October 8, 2017, as a Category 1 Hurricane. The eastern quadrant of the storm’s center also passed over significant portions of...more

Reed Smith 2017 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 Napa and Santa Rosa areas alone will be more than $65...more

Reed Smith Hurricane Maria Disaster Relief Resources Guide

by Reed Smith on

Industry insured losses for Hurricane Maria are estimated to be between US$40 billion and US $85 billion. Puerto Rico, alone, will account for more than 85% of the loss. Individuals impacted by Hurricane Maria will generally...more

Texas Department of Insurance Warns Against Improper Underwriting After Hurricane Harvey

by Locke Lord LLP on

The Texas Department of Insurance (TDI) has cautioned insurers against improper underwriting activities in the wake of Hurricane Harvey. Specifically, TDI issued Commissioner’s Bulletin # B-0032017 on September 21, 2017,...more

Georgia Federal Court Rules on Questions of Efficient Proximate Cause, Manifestation/Continuous Trigger and Pro Rata Allocation of...

by Carlton Fields on

In ACE American Ins. Co. v. Exide Technologies, Inc. and The Wattles Co., No. 1:16-CV-1600-MHC (N.D. Ga. Sept. 20, 2017), the Federal District Court for the Northern District of Georgia applied a continuous trigger theory to...more

Flood Exclusion Unambiguously Excludes Coverage For $49.5M In Hurricane Sandy Losses Caused By Storm Surge

by Cozen O'Connor on

Cozen O’Connor attorneys Thomas McKay III, Richard Mackowsky, Charles Jesuit, and Melissa Brill recently secured summary judgment from the United States District Court for the Eastern District of New York in favor of Great...more

Insurance News - Part II: FAQs for Restoring Order After the Wind and Rain Have Gone

by Cohen & Grigsby, P.C on

Recent experiences have demonstrated that commercial policyholders who document their losses and seek to pursue coverage promptly and diligently will stand the greatest chance of maximizing their insurance recoveries for...more

Insurance News - Part I Frequently Asked Questions

by Cohen & Grigsby, P.C on

As we recover from Hurricane Irma, many of us are counting on help from our insurance companies to which we have paid hefty premiums. With this in mind, we have compiled a short list of frequently asked questions that you may...more

Subrogation Claims Arising From Dam Release Flooding During Hurricane Harvey

by Locke Lord LLP on

Hurricane Harvey was a Category 4 major hurricane that made landfall in southern Texas on August 25, 2017. Harvey is the wettest tropical cyclone on record in the United States with peak accumulations of 64.58 inches. Harvey...more

Hurricanes Harvey & Irma Spin a Web of Business Interruption Claim Issues

by Wilson Elser on

The 2017 Hurricane Season will be long remembered. Hurricane Harvey will likely be deemed the most destructive and expensive natural disaster to impact the continental United States. Harvey made initial landfall on August 25,...more

Hurricane Irma: Florida Commercial Insurance Claims for Loss of Power Damages

by K&L Gates LLP on

Hurricane Irma left millions of businesses in the Southeastern United States without electricity for days and in some instances more than a week. This undoubtedly impacted the more than 2,000 aerospace and aviation companies...more

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