This year, we witnessed two major New Jersey Supreme Court decisions in insurance coverage disputes, one favorable to policyholders and the other averse. The policyholder-friendly decision addressed a hotly disputed issue in construction insurance law, while the one favorable to insurance companies imposed unexpected requirements on policyholders to report claims. The Appellate and Law Division decisions discussed below similarly represent major changes in or clarifications of the law that affect every practitioner.
Late Notice
Templo Fuente De Vida Corp. v. National Union Fire Ins. Co. of Pittsburgh is a harsh late notice decision arising out of a claims-made policy. 224 N.J. 189 (2016). The policy contained a condition stating that the policyholder must provide notice of a claim “as soon as practicable,” a common provision in both claims-made and occurrence-based policies. In Templo Fuente, the policyholder gave notice of a claim six months after receipt. The policyholder gave notice within the policy period, as required by the policy.
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