COMMERCIAL INSURANCE COVERAGE AND UNFAIR CLAIMS PRACTICES
N/AOUTCOME: Settled during trial for $600,000.00 of which $100,000.00 was for property damage and the remainder was lost of rental income, punitive damages & legal fees.
Negotiated a $600,000.00 settlement in a commercial fire loss claim that included approximately $100,000.00 in property damage plus loss of rental income This case involved an attempt by the insurer to ... disclaim coverage, the alleged negligence of the insurance agent in procuring the coverage and advising the claimant on the content of the application for insurance, the insurer’s attempts to limit several elements of the loss such as the application of depreciation expense and time limitations on the period of loss of rental income. This matter settled on the third day of trial.
