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Additional insured (AI) coverage is a common trigger of coverage disputes. The fact of the matter is that not all AI forms are created equally. To create additional insured coverage, typically, a policy is endorsed to extend coverage to another party. In most cases, there is a requirement that there is a signed, written contract requiring that party to be added to the policy as an additional insured.
Topics: Claims, Contracts, Construction Trends
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Resolving claims is a critical part of claims handling. Understanding any potential claim resolution complications can assist in closing claims quickly and containing costs.
Topics: Claims
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Facing a large property loss, like a building or auto loss/damage due to fire, weather, or flooding can be daunting for an insured. Understanding the roles of the involved parties can help the claims settlement process run more smoothly.
Topics: Claims, Construction Insurance
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Merck and its insurance companies have settled their lawsuit involving a 2017 cyber attack. The litigation involved a dispute about whether a war exclusion applied to a NotPetya cyber attack.
Topics: Claims, Cyber, Construction Trends
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In recent years, large Builder’s Risk policies have included coverage terms from the London Engineering Group (LEG) that expand coverage by redefining how the policy will pay for claims involving construction defects. The broadest of these endorsements is called LEG-3 which excludes coverage only for the cost of the insured to improve the original material workmanship design, plan, or specification.
Topics: Claims, Construction Trends
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Last year, an Eleventh Circuit ruling in Cincinnati Specialty Underwriters, Ins. Co v KNS Group (11th Cir. Oct. 2022) addressed issues related to Additional Insureds (AI) and vicarious liability. In that case, the owner hired GM&P, the general contractor, to construct a new casino. In turn, the GM&P hired KNS and entered into a subcontract to perform exterior glazing and glass façade work on the project.
Topics: Claims, Contracts, Additional Insured, Construction Trends
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A federal appeals court ruled that Zurich Insurance was correct in denying coverage to Harvard University because of “lack of timely notice.”
Topics: Claims, Contracts, Construction Trends, Construction Insurance
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On March 24, 2023, Florida’s governor signed a new tort reform bill (H.R. 837) into law (the “Act”). The Act changes areas of Florida law that have previously been viewed as favoring tort plaintiffs and insurance policyholders. The changes primarily relate to the timing of negligence actions and the mechanics of proving and recovering damages in personal injury and insurance lawsuits. In anticipation of the Act’s passage, plaintiffs have rushed to file lawsuits before the new law takes effect.
Topics: Claims
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One way to identify risks for your company is to look at the insurance industry and what areas they have identified as threats. These are referred to as Emerging Risks and these days, there are plenty of them!
Topics: Claims, Construction Risk Management