The question of whether a coinsurance penalty in a commercial property policy was based upon ACV or RCV was recently addressed by the United States Eighth Circuit Court of Appeals in Buddy Bean Lumber Co. v. Axis Surplus Ins. Co., …
Standard uninsured motorist policies provide coverage for hit and run accidents. However, the specific language utilized by various insurers may differ somewhat in using the term “strikes” or “hits” to set up coverage. As an example, State Farm’s policy provides …
Texas Supreme Court Puts an Exclamation Point on its Prior Case Two recent decisions from the Texas Supreme Court establish that there is no common law bad faith in Texas regarding workers’ compensation claims. The Texas Supreme Court in Texas …
Insurance policies assign several duties to the insured in the event of an occurrence that may result in a claim. For example, insureds must notify the insurer of any occurrence that may result in a claim and provide details of …
Georgia Supreme Court Says Insurer Can’t Have its Cake and Eat it too Insurance companies were historically faced with a Hobbesian’s choice in deciding to defend their insureds in personal injury actions where there was doubt as to whether the …
Most jurisdictions hold that every contract form contains an implied covenant of good faith and fair dealing that prohibits either contracting party from preventing or injuring the other party’s right to receive the agreed benefits of the contract. Practical Tools …
Territorial limitation clauses can be found universally in domestic and international insurance policies. Under this coverage restriction, the policy typically covers “bodily injury” if the “bodily injury … is caused by an occurrence that takes place in the coverage territory.” …
In many states, the insured has a general duty to read the insurance policy. See Practical Tools for Handling Insurance Cases, § 2:28, pp. 43, fn.1 (Thomson Reuters, 2012 Supplement) (citing cases). Other courts have affirmatively rejected a duty to …
On January 26, 2011 the general assembly of the South Carolina legislature amended S.C. CODE ANN. § 38-61-70 to require all commercial general liability insurance policies to provide coverage for “property damage or bodily injury resulting from faulty workmanship, exclusive …
A majority of courts in the country have found that if a claimant files a mixed lawsuit containing both covered and uncovered claims the insurance company is generally obligated to defend all claims against the insured, notwithstanding the fact that …