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Tort reform is discussed as a legislative solution to the challenge of legal system abuse excessive policyholder or plaintiff attorney practices that increase costs and time to settle insurance claims. Injury claim severity in the state is slightly higher than in the rest of the country.
Other common violations include sanitation and plumbing issues , such as leaking pipes that lead to water damage and mold growth, as well as problems with sewage and drainage systems. These legal factors are critical when it comes to determining liability in cases where unresolved violations have led to damages or injuries.
Mold & Water Damage are also major concerns; leaks or excessive moisture can lead to mold growth that poses health risks. These legal factors are critical when it comes to determining liability in cases where unresolved violations have led to damages or injuries.
Learn about discovery and coverage issues and cases involving damages to construction projects and the ways to prove who was at fault. Read now » Related Content Design and Construction Defect Claims: Overview and Defense Strategies Discover the basics of a defect claim against a designer or contractor.
Learn about discovery and coverage issues and cases involving damages to construction projects and the ways to prove who was at fault. Read now » Related Content Design and Construction Defect Claims: Overview and Defense Strategies Discover the basics of a defect claim against a designer or contractor.
In a recent interview with Triple-I CEO Sean Kevelighan, Harger discussed the importance of preparing for and preventing damage from this risk, which is second only to flooding when it comes to costly weather events. People typically think about fire damage when they think about lightning.
The homeowners insurance market is complicated and dynamic, and many policyholders have experienced increased rates in recent years despite no changes to their coverage or claims filed. Additionally, more and more people live in wildland-urban interfaces, where homes can be particularly vulnerable to severe weather damage.
The decision underscores the importance of coordination of different coverages and policies across insurance programs, as well as the potential perils policyholders may face if forced to seek recovery for certain losses under non-traditional policies. In any event, the ruling is a mixed bag for policyholders.
Read now » Related Content Builders Risk Insurance and Its Use in Construction Projects Discover the unusual characteristics of builders risk insurance and how features of the coverage differentiate it from other commercial policies that can afford some, but not identical, protection to the policyholder.
This type of insurance is designed to safeguard the physical structure of the property, providing financial protection in the event of damage or loss due to various risks. This includes providing details about any unoccupied flats, as they may pose higher risks due to increased vulnerability to theft, vandalism, or damage.
Weather Conditions and Natural Disasters Since 1980, there have been 360 weather- and climate-related natural catastrophes , resulting in damages and costs of over $2.57 The impacts of weather events and natural disasters go beyond immediate property damage, affecting communities and economies on a larger scale.
For example, a small retail shop could face severe repercussions from events such as fire, theft, or customer injuries on premises. It’s also tied specifically to disruptions caused by direct physical loss or damage, such as from natural disasters or accidents. Commercial insurance offers particularly critical protections here.
You almost certainly asked for a deposit as security for any damage or breakages your tenant might cause during the tenancy, the payment of rent and other bills when they fall due, and the possible cost of cleaning the premises when the tenancy comes to an end. What do I do with the deposit I ask my tenants for?
Understand less common situations involving construction accidents or personal injuries that occur within the construction area. Practical Guidance Updates Featuring the latest updates from your Practical Guidance account.
Generally, an insured's work product is not covered, but defective workmanship that causes property damage is covered. This survey covers state law on the issue of faulty workmanship as an occurrence for purposes of coverage determination under a commercial general liability (CGL) policy.
1:22-cv-03615, (May 4, 2022 SDNY), an insurer sued its policyholder seeking a declaration of no coverage under a Product Contamination Insurance Policy in relation to the CDC and FDA’s 2018 public warning of lettuce contaminated with E. Thus, Landec will be litigating its coverage dispute in the Empire State. In Houston Casualty Co.
Specifically, the ATVs exceed mandatory maximum speed limits for youth ATVs, posing a risk of a high-speed crash that could lead to serious injury or death. These products do not meet the CPSC’s mandatory safety standards. The CPSC issued the same warning for another brand of youth ATVs a few months earlier.
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