In the recent decision Three Sombrero, Inc. v. Scottsdale Insurance Company, 18 C.D.O.S10377, a California appellate court held that insurance covered the loss of value of a business resulting form the business losing its permit to operate a nightclub in its premises. The case provided well-needed clarification in a confusing area of law and provides some key lessons for lawyers when pleading their cases.
Following the annual Christmas parade in the city McRae, GA, the operator and passenger of a mule-drawn cart, both covered by their own respective policies through Georgia Farm Bureau Mutual Insurance Co., were were struck from behind by a vehicle built with more modern technology. Georgia Farm Bur. Mutual Ins. Co. v. Claxton, A18A0737, 2018 WL 1573032, (Ga. Ct. App. April 2, 2018). The passenger in the carriage sued the carriage operator to recover for his injuries in the crash. Georgia Farm Bureau then filed a declaratory judgment arguing it owed no coverage under either of the policies. The court of appeals disagreed and held that a jury had to decide two factual questions in order to determine whether coverage existed.
Most business owners are keenly aware of the sensitive nature of their commercial relationships. Ship one faulty product or fail to deliver exactly as promised and they can be liable not only for any resulting damage but the reputational harm that comes with failing to meet customer expectations.
Policyholders owe their insurers a broad duty of cooperation in assisting the insurance company assess and value the loss, and even to determine whether there is coverage at all.
“Other Insurance” clauses can add a layer of complication for policyholders who experience a loss that may be covered under more than one of their insurance policies. Find out which policy your claim falls under.
While standard commercial property insurance policies cover machines for breakdown caused by external events (resulting from events such as fires, floods, destruction, etc.), MB insurance protects the policyholder from internal events (such as malfunction, breakdown, electrical overload, etc.).
Certificates of insurance pose major problems for all parties – the insurance company, agents, and the insured.
Do you qualify for morgage releif during your claim?
If you are one of the many people who operate a home business or work from home, it is extremely important to be aware of what your homeowner’s policy may or may not cover and to determine whether you have any additional coverage.
If you have a business that was damaged or lost, or your business works with a business that suffered a loss, your insurance policy may provide numerous ways to compensate you.