The condo collapse in Surfside, Florida raises a number of insurance coverage issues. However, little has been said about how this tragedy is likely going to change what agents and underwriters are expected to do with regard to verifying condo coverages. This became apparent when I recently received the following email….
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The recent Surfside, Florida condominium building collapse has raised questions all over the country about whether property insurance covers the damage. Also of interest, especially given that the first lawsuit was filed in less than 24 hours following the collapse, is what liability coverage may come into play. This article addresses these issues and several lessons learned so far.
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“Passion. Creativity. Tenacity. These are all traits exhibited by Plaintiff’s counsel in their opposition to Defendant Westchester Surplus Lines Insurance Company’s motion for judgment on the pleadings in this putative class action lawsuit for damages a restaurant allegedly sustained because of the COVID-19 pandemic.”
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If your car is stolen and not recovered for months or longer, your auto policy likely pays for the ACV of your vehicle. However, if the thief commits a crime and your auto is confiscated for the months or longer required to try the case, your loss is excluded. Property policies have similar “government action” exclusions. Is it time for a change?
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Yes, the Supreme Court has made a pro-policyholder decision on business income coverage for COVID-19 claims. However, this is the UK supreme court, not the US supreme court. To learn more about how or if this decision may impact U.S. claims, keep reading….
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In a recent COVID-19 business income lawsuit, the court opined that direct physical “loss of” property could include “loss of use of” that property. This is an erroneous reading of the policy form and certainly not the intent of the insurance contract. This article explains why that is and links to a more detailed discussion that refutes this interpretation.
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After a brief absence while finishing my new book, I’m back with two new blog posts, one about vermin exclusions and the other about certificates of insurance. In addition, I post some information about ordering my new book “Why Insurance Doesn’t Cover the COVID-19 Pandemic” at a discounted price.
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THE Definitive and Conclusive Analysis of Why Insurance Doesn’t Cover Pandemics. is now available on presale at Amazon.com This book by one of the industry’s foremost P&C insurance coverage experts, author of “When Words Collide: Resolving Insurance Coverage and Claims Disputes,” explains why potentially trillions of dollars of COVID-19 business interruption losses should not, can not, and are not covered by insurance.
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BONUS! Purchasers of this book get a free PDF download of my book “QuoteNotes: The Ultimate Quotational Reference System and Authoring Tool for Professional Speakers and Writers” endorsed by Zig Ziglar and Brian Tracy. This is an indexed and cross-referenced compilation of my 1,500 favorite quotes and includes a section on how to use quotations in your speaking and writing.
To get BOTH books at a discounted price, click the book cover or CLICK HERE.