• Mold Contamination Is Not a Physical Loss

    Mold Contamination Is Not a Physical Loss Mold Contamination Is Not a Physical Loss July 16, 2012 In this action, the insured filed a lawsuit against its insurer asserting that the insurer wrongfully denied its claim. This case is Universal Image Productions, Inc. v. Federal Insurance Company,...

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  • Earth Movement Exclusion

    Earth Movement Exclusion Opposing Views: Any Movement versus Natural and Catastrophic Summary: Property policies generally exclude earth movement as a cause of loss. What constitutes earth movement for purposes of the exclusion? There are two views that have been developed in the courts: (1)...

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  • Unintentional Error or Omission Provisions of Property Policies

    Unintentional Error or Omission Provisions of Property Policies Summary: A provision of some independently-filed and manuscript property policies that can sometimes save the day for insureds and/or their insurance representatives permits coverage despite the fact that there has been some...

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  • Earth Movement Exclusion Ambiguous

    Earth Movement Exclusion Ambiguous In Pioneer Tower Owners Ass'n v. State Farm Fire & Cas . Co. , 2009 WL 1148649 (N.Y.) , the plaintiff, the owner of a condominium apartment building, sought recovery under an insurance policy for damage to its building that resulted from an excavation on an...

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  • Standard Mortgage Clause

    Standard Mortgage Clause A General Discussion Summary: A standard mortgage clause is commonly incorporated into property policies covering both personal and commercial buildings. The clause protects the interests of the holder of the mortgage (the lender) and controls the disposition of...

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  • Meaning of "Collapse"

    Meaning of "Collapse" The insured hotel owner brought a breach of contract action against its property insurer alleging the insurer breached its policy by denying coverage for the collapse of the hotel. This case is Malbco Holdings, LLC v. AMCO Insurance Company, 719 F.Supp.2d 1311...

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  • Mold - An Overview

    Mold - An Overview Issues Facing the Insurance Industry Summary: One of the most complex issues facing the insurance industry recently is coverage for mold—or lack thereof. Multi-million dollar claims and settlements have triggered other claims seeking damages, followed in turn by industry...

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  • Fire legal Liability Insurance

    Fire legal Liability Insurance Background—Problems—Solutions Summary: “Fire legal liability” is a way to describe the risk that all persons, businesses, institutions, etc., are exposed to by way of responsibility for damage to property of others in their care, custody, or control. It requires...

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  • Ordinance or Law Issues

    Ordinance or Law Issues Building Codes, Insurance Policy Exclusionary Language, and Coverage Endorsements By Diane Richardson, CPCU FC&S Legal editors acknowledge the contribution of Donald L. Schmidt, ARM, CEO of Preparedness, LLC, a Sharon, Massachusetts, firm that provides consulting services...

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  • Arson - Recovery by Innocent Coinsureds

    Arson - Recovery by Innocent Coinsureds Review of Policy Provisions and Court Decisions March 2004 Summary: Public policy against allowing a wrong-doer to profit from his own wrongful act precludes an insured from recovering insurance proceeds under a property policy for an act of arson committed...

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  • Vandalism as Cause of Loss - ARCHIVED

    Vandalism as Cause of Loss - ARCHIVED Written as Extended Coverage Summary : Although a separate and distinct element of coverage, vandalism (meaning willful or malicious damage to or defacement or destruction of described property) insurance always is written, under standard forms, in...

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