Property insurance for projects under construction can be significantly complex. Insuring renovation projects under a builder’s risk policy will often require more care in crafting a policy that provides adequate protection....more
As previously described in a Jan. 12, 2024 legal alert and a July 12, 2024 legal alert, the New York State Department of Environmental Conservation (DEC) promulgated amendments to freshwater wetlands regulations, changing 6...more
Property Insurance/Replacement Cost - Homeowners Did Not Substantially Meet Policy’s Condition Precedent to Recover Replacement Cost Value - Insurer Did Not Waive Conditions - Henderson v. State Farm Fire and...more
Introduction: Substantial Structural Damage and Its Impact on Building Repairs - Substantial structural damage (SSD) is a defined term within the International Code Council (ICC) building code library, which assesses the...more
Florida Chapter 2023-203: Ensuring Building Safety in the Wake of Tragedies - It often takes a crisis for society and government to react. Whether it be seat belts, smoking, or building safety, unfortunately, catastrophe...more
A federal court in New York has held that a Broadway musical’s casting decisions—specifically replacing one actor with another actor of a different race—are shielded by the First Amendment from employment discrimination...more
The United States Internal Revenue Service (“IRS”) addressed the federal income tax treatment of certain lead service line replacement programs for residential property owners. See announcement 2024-10....more
The London Engineering Group’s LEG 3 exclusion—one of three standard form provisions issued by the London Engineering Group addressing coverage arising from construction or design defects—is an increasingly common defects...more
Gone are the days of pulling into the corner gas station and running over a faded red hose to ring a bell, which in turn alerts the station owner, whose feet are sticking out from under a vehicle in the garage, that he has a...more
Whether the damage to a gas station's gas pumps results from car accidents, fires, lightning strikes, vandalism, or even floods, there are many distinct aspects to consider when reviewing and analyzing related business income...more
Insurers in South Carolina may now depreciate both labor costs and material costs when determining the “actual cash value” (ACV) owed to policyholders for property damage....more
Most first party property coverage policies contain an appraisal provision that allows either the insured or the insurer to make a written demand for appraisal when the parties agree that covered property was damaged by a...more
Those familiar with first party insurance policies have undoubtedly encountered a recurring issue with the interpretation of appraisal provisions – what does it mean to disagree on the amount of loss? ...more
Most property insurance policies condition the payment of replacement cost value (RCV) on the property first being replaced or repaired, and courts typically enforce that requirement. ...more
Insurance policies are designed to indemnify an insured by putting the policyholder in the same position he or she would have been in had no loss occurred. In the context of property insurance policies, damaged property is...more
Property insurance policies typically require that the insured repair or replace damaged property before recovering on a replacement cost value (RCV) basis. ...more
Be warned — submitting false replacement services forms will forfeit a car crash victim from receiving Michigan auto No Fault benefits. I’ve represented several hundred Michigan car crash victims in my 22 years as an auto...more
The 2014 Florida Existing Building Code (the “Code”) contains what is conventionally called the “25 percent rule” (the “Rule”). The Rule applies to roof repair of any commercial or residential building. In a nutshell, the...more
We live in an economy where provision of products and services is ever changing, including the hard assets by which such products and services are provided. For complex industrial and manufacturing property that remain...more
Oftentimes, during the course of a subrogation claim, third-party liability adjusters will refuse to pay the full amount of the “Repair Cost Value” (“RCV”) of the damages demanded, and contend that they only owe “Actual Cash...more
There have been two recent federal district court decisions in the widespread class action litigation involving the application of depreciation to the labor cost component of replacement cost value on property insurance...more
If you are a design professional providing services in Virginia, or a general contractor on a public works project for the Commonwealth of Virginia, you need to know of two Virginia Supreme Court decisions in 2016. You ask...more
I’ve regularly followed on my blog key developments in the numerous class actions against the insurance industry involving the application of depreciation to the labor cost component of estimated replacement cost value in...more
On Monday, the California Supreme Court revived a 2011 insurance regulation designed to protect homeowners from underinsurance because of the insurance company’s use of potentially misleading estimates for home replacement...more
Nearly two years ago, a California appellate court invalidated a rule promulgated by the state’s Insurance Commissioner, on the ground that the regulator lacks authority to prohibit “deceptive acts or practices” which are not...more