Property Insurance

Property insurance provides protection against most risks to property, such as fire, theft and some weather damage. This includes specialized forms of insurance such as fire insurance, flood insurance, earthquake insurance, home insurance, or boiler insurance. Property is insured in two main ways—open perils and named perils. Open perils cover all the causes of loss not specifically excluded in the policy. Common exclusions on open peril policies include damage resulting from earthquakes, floods, nuclear incidents, acts of terrorism, and war. Named perils require the actual cause of loss to be listed in the policy for insurance to be provided.
Posts about Property Insurance
  • BAD FAITH IN THE CONTEXT OF PROPERTY INSURANCE CLAIMS (WEBINAR)

    … Recently, I participated in a national webinar involving insurance bad faith in the property insurance context. My section of the webinar dealt with the elements and burden of proof in demonstrating bad faith by an insurer in various jurisdictions. If you are dealing with a property insurance claim, or believe there may have been bad faith…

    Florida Construction Legal Updates- 35 readers -
  • ILLUSORY INSURANCE COVERAGE: REAL OR UNREAL?

    … In insurance coverage declaratory relief actions, there are times an insured will argue that the insurance policy coverage is illusory. Typically, an insured will raise this illusory argument if its insurer is denying coverage based on an exclusion or limitation in the policy. If a court agrees and deems the coverage illusory, the court…

    Florida Construction Legal Updates- 12 readers -
  • NEGLIGENT PROCUREMENT OF INSURANCE

    … As you know, insurance is an important part of risk assessment for many, many business needs. Oftentimes, an insured relies on an insurance broker or agent to procure specific insurance to meet its express business objectives and risks. Notably, there is a potential negligence claim associated with an insurance agent or broker’s negligent…

    Florida Construction Legal Updates- 14 readers -
  • Car Insurance Law Requirements in Illinois

    … cannot turn on, you cannot prove you have insurance to an officer and you will be ticketed. When Do I Need to Follow Illinois Car Insurance Requirements? You must follow Illinois’ auto insurance laws when your vehicle is registered in the state. If your vehicle is registered in Wisconsin or Indiana and you simply drive into Illinois sometimes, you…

    Jared Staver/ Chicago Personal Injury Lawyer- 13 readers -
  • Wells Fargo Hits a New Low (Bank Whistleblower Post)

    … borrowers, the bank participated in a scheme to overcharge the most vulnerable group of homeowners for property insurance. June 2013 The bank agrees to pay $42 million to settle claims brought by the National Fair Housing Alliance. The nonprofit advocacy group neglected the maintenance and marketing of foreclosed homes in black and Hispanic neighborhoods…

    Due Diligence- 38 readers -
  • EXAMPLE OF IMPORTANCE SUPPORTING THEME FOR INSURANCE COVERAGE

    … exclusions without a strategic agenda as to why an exclusion does not apply, such as there is an exception to the exclusion that your theme fits under. In Divine Motel Group, an insured pursued its property insurer for rainwater damage stemming from a tropical storm. The property insurance policy contained the following exclusion for rain damage…

    Florida Construction Legal Updates- 18 readers -
  • ENSUING LOSS EXCEPTION IN PROPERTY INSURANCE POLICIES

    … Property insurance policies such as builder’s risk policies contain a design defect / faulty workmanship exclusion (as well as other exclusions for excluded risks or perils). But, certain exclusions such as the design defect / faulty workmanship exclusion may contain what is referred to as the “ensuing loss exception.” Stated differently…

    Florida Construction Legal Updates- 18 readers -
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