(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.
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