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Court Permits Parties to Cure Defective Diversity Jurisdiction in Suit Against Underwriters at Lloyd’s

The Property Insurance Law Observer

Certain Underwriters at Lloyd’s, London, et al. 2024), to preserve diversity jurisdiction, the United States District Court for the Southern District of New York permitted a plaintiff insured to drop non-diverse, dispensable defendant Underwriters at Lloyd’s, London (“Underwriters”) which subscribed to a commercial property insurance policy.

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Court Finds Policy Term, “Windstorm,” to be Ambiguous in Coverage Dispute Involving Tornado

The Property Insurance Law Observer

Privilege Underwriters Reciprocal Exchange (2024 WL 322297 (Tex. 29, 2024)), the Court determined that the term “windstorm” was ambiguous as utilized in the subject insurance policy. The insureds suffered property damage caused by a tornado and subsequently submitted a claim to their insurer.

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Does a sagging floor constitute a “collapse”? Court finds ambiguity in “collapse.”

The Property Insurance Law Observer

2024), the District Court of Massachusetts found that “collapse” provisions within a commercial property policy were ambiguous where a floor merely sagged without completely falling to the ground. During the policy period, the insured’s floor “sunk” between eight to 12 inches.

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Commercial Insurance and Protection of Business Property

Paragon Independent Insurance Agencies

These events may include property damage, liability claims from work-related injuries, break-ins, or business interruption. Protection of Business Property Commercial insurance protects all business property, including buildings on the land, equipment in the yard, inventory, and other assets owned by the company.

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Builder’s Risk Insurance in Tennessee: A Broker’s Guide 

Distinguished

When a project is under construction or renovation, your clients are likely not covered by their homeowner’s insurance or business insurance. Different Builder’s Risk insurance policies vary from one insurance carrier to another.  Property damage : Damages to the building that is being constructed or renovated.

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Emerging Property Insurance Trends 2024

Property Insurance Centre

Unpredictable weather events and the rise in natural catastrophes pose significant challenges for the property insurance industry. Insureds are facing substantial property losses, leading to increased financial burdens. Furthermore, some reinsurers are selectively limiting or eliminating capacity in higher-risk areas. .

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How to Read Homeowners Insurance Quotes

TGS

At TGS Insurance, your free home insurance quote is instant! Quotes that are ready quickly are usually based on a small subset of information, then the initial baseline quote is refined during the underwriting process. >> TGSI TIP: Homeowners insurance quotes should always be free.