By RYAN M. SUERTH
At a time when some Connecticut shoreline residents are still dealing with their flood insurance claims resulting from Hurricane Irene, Hurricane Sandy has reinforced the need for a greater understanding of the Standard Flood Insurance Policy a policy created by our United States government.
By KIP DWYER and J. TYLER BUTTS
Builder's risk and other first-party coverages have traditionally excluded loss or damage caused by "faulty workmanship." A principal point of contention in litigation over this exclusion has been whether the exclusion applies to loss or damage caused by a finished product (damage to a desk when a poorly made ceiling falls on it) or the process of workmanship (damage to a windowsill during the process of repairing the window), or to both. In light of recent decisional law, courts appear less inclined to draw a distinction between process and product as a way of limiting the reach of the "faulty workmanship" exclusion.
By DAVID G. JORDAN
When natural disaster strikes, an insurance policy can be the single most important document to the economic future of a business. Adequate protection against the potential (or likelihood) of catastrophic losses is not simply a matter of purchasing an insurance policy and stowing it away in a drawer or filing cabinet, only to pull it out and dust it off when a loss occurs.
By EDWIN L. DOERNBERGER and ASHLEY R. SAUVE
A storm may be a-brewing on the insurance coverage front. Recent case law from Texas indicates a shifting pattern in court decisions that could have disastrous consequences for insureds. Certain courts in Texas have interpreted the contractual liability exclusion in a general liability policy to preclude coverage when breach of contract is alleged in the underlying complaint.