As Superstorm Sandy insurance claims wend their way through the courts, we are beginning to see decisions related to motions on the pleadings, especially with regard to extracontractual claims. The first such decision in the New Jersey federal courts that we are aware of was recently issued in Beekman v. Excelsior Insurance Company and Peerless
February 2014
Interplay Between Two-Year Suit Limitation Provision And Replacement Cost Provision: New York Court of Appeals Holds That The Suit Limitation Period May be Unreasonable Under Certain Circumstances
By J. Tyler Butts on
Posted in Uncategorized
Many property insurance policies contain suit limitation provisions limiting the time by which an insured may bring an action against the insurer under the policy. In addition to a suit limitation provision, to recover the full replacement costs, as opposed to the actual cash value of the damage, many policies also require an insured to…
New York Trial Court: Delay In Completion Loss Is Unambiguously Tied To Scheduled Date Of Completion
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Builders risk policies for large-scale projects can be complex, and the scope of losses arising from those projects can be difficult to identify. A trial court in New York recently addressed the “delay-in-completion” and “permission to occupy/operate” endorsements, concluding that both provisions were unambiguous and measured delays based on the scheduled date of completion. See…