We’ve all seen it before. The insured files a claim, the insurance company sends out an adjuster to adjust the loss, the loss is more complex, or a situation arises that the adjuster cannot handle so the insurance company forwards the claim to their legal department. At that point, an attorney becomes involved and the adjustment of the claim, as well as the communication between the parties is limited and calculated.
Continue Reading
Since the New York Department of Insurance was abolished in October 2011, the New York State Department of Financial Services has supervised and regulated all insurance companies that do business in New York. The Department of Financial Services attempts to ensure fair and equitable dealings between insurers, agents, and policyholders regarding all insurance transactions. The Department of Financial Services also receives and investigates all complaints against agents or insurers.
Continue Reading
The statute of limitations period applicable to a breach of contract cause of action in New York is ordinarily six years. However, parties to a contract may agree, in writing, that any lawsuit must be commenced within a shorter period of time. Moreover, while the statute of limitations on a breach of insurance contract generally starts to run on the date that coverage is disclaimed by the insurance company, the parties to an insurance contract are likewise free to include distinct language in their agreement demonstrating that they intend for the limitations period to run from the date of the underlying loss as opposed to the date of the disclaimer of coverage.
Continue Reading
The New York Supreme Court, Appellate Division, First Department “unanimously reversed, on the law, with costs, the motion denied and the claims reinstated,” the New York County Supreme Court trial judge’s order dated April 2, 2018, to the extent appealed from, which granted dismissal of Plaintiff D.K. Property, Inc.’s (“D.K.”) consequential damages (other than attorney’s fees) pled in its amended complaint.1 The dispute involves an “all-risk” commercial property policy issued by Defendant National Union Fire Ins. Co. of Pittsburgh, PA (“National Union”) and its denial of D.K.’s October 2014 claim for policy proceeds and benefits arising from damage to one of its buildings insured under the policy.
Continue Reading
Tiffany Tower Condominium LLC sustained damages during Superstorm Sandy. In November 2012, the insured filed a claim with their insurer, Insurance Company of Greater New York, for damages sustained during the storm. Greater New York paid the claim out in December 2012. In September 2014, Tiffany Tower submitted a supplemental claim to Greater New York for additional losses which it asserted were caused by the storm. Their insurer denied coverage for the supplemental claim.
Continue Reading
Last month, a New York Supreme Court affirmed that insurance companies are subject to that state’s consumer protection law, General Business Law § 349. In 37 West 24th Street, LLC v. Seneca Insurance Company, Inc., the trial court denied Seneca Insurance Company’s motion to dismiss the plaintiff’s claim under that statute.1
Continue Reading
Bad faith and consequential damages has long been a thorn in the New York plaintiff attorney’s side as they are virtually impossible to recover in most breach of contract actions. Recently, one plaintiff was able to recover attorney’s fees and costs by meeting the stringent standard set forth by New York case law.
Continue Reading
A New York policyholder submits to multiple examinations under oath during the investigation of a fire claim before retaining counsel. The question then becomes whether his examination under oath (EUO) testimony is admissible at trial and under what circumstances. A brief survey of my research is summarized below.
Continue Reading
This weekend, I was binging on the Netflix show “The Defenders.” In one of the first episodes, an earthquake hits New York City and a character comments: “Not a lot of people have earthquake insurance up here.” This got me thinking about endorsements to policies, and how likely is it that an earthquake large enough to cause property damage will hit the tri-state area?
Continue Reading
I recently received a call from a public adjuster who told me that his client’s property was flooded when a municipal water main broke which caused damage to his property when it flooded.
Continue Reading