Property

Expert Analysis

• What's At Stake In Fla. Insurance Appraisal Case

  

  The Florida Supreme Court's decision in Weston Property & Casualty Insurance v. Riverside Club Condominium Association, determining whether trial courts should have discretion to sequence appraisal and fraud in insurance disputes, will influence how claims are handled on a national basis, say attorneys at Reed Smith.

• Hurricane Insurance Prep Is Key For Fla. Condos And HOAs

  

  As this year's hurricane season gets underway, Florida associations for homeowners, condos and communities should review their insurance policies and protocols in advance of potential inclement weather, says Kelly Corcoran at Ball Janik.

• Property Insurance Coverage Can Hinge On 'Riot' Or 'Protest'

  

  As protests erupt across the U.S. in response to the U.S. Supreme Court overturning Roe v. Wade, Alycen Moss and Elliot Kerzner at Cozen O'Connor examine important property insurance questions that depend on whether a gathering of people is classified as a protest or a riot.

• Lessons From Calif. Liability Claim Recoupment Ruling

  

  A recent California federal court decision in Evanston Insurance v. Winstar Properties illustrates the perils of insurer recoupment and underscores the importance of assessing recoupment rights, if any, throughout the claims process, say Geoffrey Fehling and Veronica Adams at Hunton.

• Recent Decisions Are Eroding All-Risk Insurance Coverage

  

  All-risk insurance coverage is under siege by insurers' broad interpretations of established exclusions, and recent decisions in New Jersey and New Hampshire have shown that courts may not protect coverage despite the policies' text and intent, says Nicholas Insua at Reed Smith.

• Exploring Calif. Wildfire Insurance's Legislative Landscape

  

  As California wildfire season approaches, elected officials and insurance companies continue to face the task of finding long-term solutions, including an increasingly important role for mitigation efforts by individual homeowners and business owners in order to protect their property, say Jan Larson and Jenna Conwisar at Jenner & Block.

• COVID Coverage Cases Conflict With Insurer Documentation

  

  A look at three court cases highlights a gap between successful insurer arguments made in litigation about policy text and the insurance industry's own understanding of the potential for property damage and business interruption coverage of virus- and disease-related claims, say professors at UConn, the University of Nevada and Queen's University.

• Pandemic Losses Do Not Trigger Biz Interruption Coverage

  

  Although Law360 has reported that there may be hope for policyholders seeking property insurance coverage for pandemic-related losses, basic contract principles and overwhelming case law show the opposite, say attorneys at Dentons.

• 2 Calif. Insurance Decisions Question Boundaries Of Fortuity

  

  Last month, California state and federal courts revisited fortuity issues in two decisions that show how the occurrence requirement and the California Insurance Code's prohibition on coverage for an insured's willful acts can be exceedingly difficult to apply to lawsuits alleging novel legal theories, say Jodi Green and Sophia von Bergen at Miller Nash.

• Insurer Best Practices For NY Climate Risk Compliance

  

  Insurers should view the New York Department of Financial Services' guidance on managing financial risks from climate change as a bellwether for state and federal regulation and should use the time before this summer's compliance deadline to prepare and implement an appropriate response strategy, say Jim Wrynn and Robert Stephens at FTI Consulting.

• Assessing NFT Insurance Coverage Options And Gaps

  

  Because non-fungible tokens do not come bundled with insurance policies, and until NFT-specific insurance policies become more common, NFT owners should proactively protect against risk by drawing upon existing frameworks, despite potential coverage gaps, say Brian Scarbrough and Edward Crouse at Jenner & Block.

• Crypto And NFTs Could Change The Future Of Real Estate

  

  As they grow increasingly popular, cryptocurrencies and nonfungible tokens may shape how real estate transactions are conducted and open the market to many new investors, but these changes are not without risk, says Hugo Alvarez at Cole Scott.

• The Misinterpretation Of Pa.'s Bad Faith Claims Handling Rule

  

  Courts applying Pennsylvania law in insurance coverage disputes, such as the recently decided Walker v. Foremost Insurance, and finding that where an insurer establishes that the subject claim is not covered by the insurer’s policy there can also be no bad faith claim by the insured, are inaccurately interpreting state law, say George Stewart and Max Louik at Reed Smith.