Hartzer Discusses COVID and Property Insurance in an American Bar Association Publication
The economic effects of the COVID-19 pandemic are predicted to lead to an increase in missed mortgage and lease payments, foreclosures, and evictions. These, in turn, will lead to an increase in vacant insured property. In a recent article in Probate & Property, Robert Hartzer cautions property insurance professionals, real estate professionals, and business owners alike to be aware of the importance of insurance policy vacancy exclusions. Citing a number of decisions over the last 60 years, Hartzer analyzes courts’ various interpretations of what constitutes “vacant” and “unoccupied” property and when policy exclusions for these apply. The full article is available here.