In Austin-Casares v. Safeco Ins. Co., 2013 Conn. LEXIS 409 (Dec. 3, 2013), the Connecticut Supreme Court, in a case of first impression, reversed a trial court’s decision, which held that the suit limitation provision unambiguously precluded a mortgagee from intervening in a suit when the motion to intervene was filed after the
Suit Limitation
Potential Conflict Between Suit Limitation Period And Replacement Cost Holdback Under New York Law: Second Circuit Certifies Question
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Posted in Replacement Cost, Suit Limitation
The Second Circuit recently certified an important question to the New York State Court of Appeals, which, while presented in a remarkably straightforward manner, will likely have anything but a straightforward answer:
If a fire insurance policy contains
(1) a provision allowing reimbursement of replacement costs only after the property was replaced and requiring the…