Policyholders are often confronted with recalcitrant insurers who try to “shortchange” legitimate claims. This strategy recently backfired, however, in Bi-Economy Mkt., Inc. v. Harleysville Ins. Co. of N.Y. when the New York Court of Appeals found an insurer liable for the demise of a business that closed its doors after the insurer failed to pay [...]
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Tagged as:
business interruption,
consequential damages
As disaster relief makes its way to Haiti in the aftermath of last week’s devastating earthquake, businesses and individuals will also look to their insurance companies for coverage of the losses suffered. This should also serve as a reminder to those not directly impacted that disaster can strike anywhere and they should take the time [...]
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Tagged as:
business interruption,
Civil Authority Provision,
extra expense,
gross earnings,
profit and commission
