(l-r) Chris Kuleba, Harrell Watts II, and Evan Knott of Reed Smith. Courtesy photos How Much Coverage Do You Really Have? Valuation and Loss Settlement Provisions in Commercial Property Policies
While in many cases involving a substantial property loss the applicable policy limit is clear, in some cases it is not, and the amount to which the policyholder is entitled is governed by a confluence of policy provisions informed by applicable state law.
October 01, 2024 at 11:47 AM
10 minute read
Board of Contributors
Commercial property insurance is an essential form of protection for any business that owns or leases property. Like most insurance policies, commercial property policies are subject to coverage limits setting forth the maximum amount the insurer(s) are contractually obligated to pay. While in many cases involving a substantial property loss the applicable policy limit is clear, in some cases it is not, and the amount to which the policyholder is entitled is governed by a confluence of policy provisions informed by applicable state law.
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View All
Navigating Florida Property Insurance Claims in a Post-Fee-Shifting World
5 minute read
The Eleventh Circuit Will Hear The IMC Petition on the FCC’s One-to-One Consent Rule … Here Is Your Preview!
Applying Neuroscience to Real Estate Development to Address Our Growing Need for Improved Well-Being
10 minute readLaw Firms Mentioned
Trending Stories
- 1Increased Costs Proved a Drag on Profits for PA's AmLaw 200 in 2024
- 2Judicial Ethics Opinion 24-81
- 3Mental Health Issues Don’t Get a Holiday
- 4'It's Got to Be a Wake-Up Call:' Atlanta Attorney Hopes $16M Verdict Spurs Training Changes at Hotels
- 5FTC Bans 'Junk Fees' in Live-Event Tickets and Short-Term Lodging
Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250
