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New Oklahoma Law Limits Post-Loss Assignment of Benefits on Property Damage

Insurance Journal

Oklahoma lawmakers this legislative session passed a bill limiting post-loss assignment of benefits for property damage under auto, residential or commercial property insurance policies. House Bill 1084 prohibits the solicitation or acceptance of an assignment of any post-loss insurance benefit …

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Construction Defects Are Not Covered Property Damage in Commercial Liability Policy

Insurance Journal

A home builder is not covered under the property damage coverage in its commercial liability policy for construction defects for which it was responsible. A three-judge panel of the Massachusetts Appeals Court has held for the first time that “construction …

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Lack of Insurable Interest Precludes Recovery for Property Damage

The Property Insurance Law Observer

Consequently, the plaintiff was not entitled to indemnity for damage to the property it purported to insure under a commercial property insurance policy. [1] The restaurant property was owned by another company, which was a separate entity with common ownership by the same individuals who owned the business.

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North Dakota Commissioner Urges Property Damage Assessment After Flash Floods

Insurance Journal

In the wake of flash flooding in the Bismarck-Mandan area, North Dakota Insurance Commissioner Jon Godfread is reminding residents to take immediate steps to assess and document any property damage and to review their insurance policies to understand what is …

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What Appliance Store Insurance Policies Should I Invest In?

Central Insurance

Explore essential appliance store insurance policies to protect your business from liability, theft, property damage, and employee injuries. The post What Appliance Store Insurance Policies Should I Invest In? appeared first on Central Insurance Blog.

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Noncompliance With Policy’s “Duties After Loss” Provision Leads to Denial of Fire Loss Claim

The Property Insurance Law Observer

Insurer) motion for summary judgment, holding that the Insurer was prejudiced by its insureds failure to cooperate with the Policys Duties After Loss provision. Shortly after the Plaintiff purchased the Policy, the house was damaged by a fire. Plaintiff submitted a claim to the Insurer for the damage. Background Caribe D.

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Insurer’s Use of Conflicting Reports Not Bad Faith, Says Court

The Property Insurance Law Observer

Factual Overview This insurance coverage dispute arose from alleged roof damage caused by a hailstorm. The subject insurance policy covered direct physical loss caused by hail. The adjuster concluded that the roof was, in fact, damaged by hail. The large-loss adjuster reinspected the property and hired an engineer to assist.

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