Category: Commercial Property

The 180-Day ACV vs. RC Notice Myth

Property policies written on a replacement cost (RC) basis, both personal and commercial lines, usually have a provision that the insured can collect on an ACV basis, then advise within 180 days that they intend to exercise their right to a RC recovery. But what happens when the insured doesn’t discover damage (e.g., from hail) until 180 days after the loss or damage (e.g., the hail storm)?

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It’s Not Just About “Direct Physical Damage”

A primary focus of many COVID-19 business income insurance articles is whether or not there has been any “direct physical damage.” For most policy forms, that may be important when it comes to business income coverage for damage ON the described premises, but it may be far less important when it comes to coverage for business income loss due to orders of civil authority. Here’s why.

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Having Your COVID-19 Cake and Eating It Too

If a COVID-19 lawsuit asserts that a virus “contamination” constitutes direct physical loss that triggers coverage in a business income policy, doesn’t the plaintiff also have to recognize that a pollution exclusion in the policy for “contaminants” removes coverage? How can something be a contaminant in one part of the policy, but not in another?

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