Explores what parametric insurance is, how it works, and some of its limitations and opportunities.
Examines why a Missouri appeals court reversed summary judgment on the denial of an insurance claim after the insurer claimed it had not renewed the policy.
Outlines the potentially favorable change for a defendant Missouri insurer’s right to intervene to stay proceedings while an underlying determination of coverage case is pending.
Explores significance of innocent insured doctrine in safeguarding policyholders who are inadvertently implicated in disputes arising from actions of others. Provides insights into implications of the doctrine for both insurers and insured parties.
Property insurance policies typically contain provisions requiring the insured to cooperate with the insurer in the investigation and adjustment of the loss. As part of those post-loss obligations, the insured may be required, if requested by the insurer, to submit to an examination under oath and produce documents and records related to the claim. The typical policy provision is phrased as follows:
Your Duties After Loss
After a loss to which this insurance may apply, you shall see that the following duties are performed:
As often as we reasonably require, submit to and subscribe ...
Not long after governors and mayors issued orders shutting down non-essential businesses as a safeguard against the spread of COVID-19, we read countless emails and blog posts about how those entities’ business interruption coverages might apply to businesses shut down by the pandemic. Most writers conclude the ISO forms almost certainly will not indemnify the insured for those costs, and while there undoubtedly will be exceptions, I won’t muck about trying to add to that consensus here.
Instead, I’m curious about what happens next, when the owner of a restaurant or plastics ...
