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Reed Smith LLP on Replacement Cost Policies and the Dangers When an Insurance Company Refuses to Pay Actual Cash Value

In this Emerging Issues commentary, Jay M. Levin and Jennifer D. Katz, members of the Insurance Recovery Group of Reed Smith LLP, discuss the differing positions courts have taken with replacement cost property insurance policies and the pre-condition to payment of actually repairing or replacing the...

Reed Smith on The Insurance Company’s Settlement of Tort Claims: An Analysis of In Re East 51st St. Crane Collapse Litigation

By John Berringer and Jennifer Katz, Reed Smith LLP In In Re East 51st St. Crane Collapse Litigation , the New York Supreme Court permitted the primary insurance company to enter into a settlement which clearly was not “in the best interests of the insured.” That decision set an extremely...

Reed Smith LLP on Duane Reade, Inc. v. St. Paul Fire & Marine Insurance Co.: Rejecting the Value of Location for the Period of Restoration But Insisting upon It for the Extended Period of Restoration

By Richard Lewis, Partner, Reed Smith LLP In Duane Reade, Inc. v. St. Paul Fire & Marine Insurance Co. , the United States Court of Appeals for the Second Circuit ended a protracted dispute between an insurance company and a policyholder seeking to recover loss of profits at its drug store which...

Reed Smith LLP on Rosciti v. Liberty Mutual Insurance Company: An Analysis of Accessing Excess Coverage of a Bankrupt Entity

By Ann V. Kramer and Jennifer D. Katz In Rosciti v. Liberty Mutual Insurance Company , the District Court of Rhode Island concluded that an individual seeking damages from a bankrupt company cannot directly collect from that company’s excess insurer if the bankrupt company has not exhausted...

Additional and Supplemental Property Insurance Coverages – New Appleman on Insurance Law Library Edition, Chapter 45

By Michael Raibman and Paul Walker-Bright, Attorneys, Reed Smith LLP This chapter describes the more common coverages that are added to basic property insurance policies. It further explores how courts have resolved disputes concerning these additional and supplemental coverage provisions. Section...

Reed Smith LLP Policyholder Alert: Zeig Reconsidered?

By John Berringer and Michael DiCanio, Attorneys, Reed Smith LLP While it has long been the general rule in New York and other jurisdictions that a policyholder's settlement with a primary insurer for less than full policy limits can nevertheless trigger excess coverage, as long as the loss or...

Reed Smith LLP on Avoiding Disproportionate Forfeiture of Insurance Coverage Through Doctrines of Waiver, Estoppel, Mend the Hold, Prejudice, and Good Faith and Fair Dealing

By Timothy P. Law and Lisa A. Szymanski, Attorneys, Reed Smith LLP This article discusses various doctrines applied by courts to avoid the technical forfeiture of insurance coverage. These doctrines include waiver, estoppel, "mend the hold," the requirement of prejudice, and the duty of...

Timothy Law and Jeremy Heinnickel of Reed Smith: Tenth Circuit Finds Duty to Defend Patent Infringement Allegations under Advertising Liability Coverage

By Timothy P. Law and Jeremy F. Heinnickel, Attorneys, Reed Smith LLP "In Dish Network Corp. v. Arch Specialty Ins. Co. , -- F.3d --, 2011 U.S. App. LEXIS 20955 (10th Cir. Oct. 17, 2011) [ enhanced version available to lexis.com subscribers / unenhanced version available from lexisONE Free Case...

Reed Smith LLP on What to Do When Your Insurance Company Goes Broke

By Timothy P. Law, Partner, Reed Smith LLP Insurance company insolvencies cause disruption to businesses and create a risk of serious financial loss. In many instances, however, policyholders can make a full recovery or mitigate their losses by considering all appropriate avenues of recovery. This...

Reed Smith LLP on Developments and New Directions in Coverage for Claims Related to the Telephone Consumer Protection Act

By John S. Vishneski, III and Robert Deegan, Attorneys, Reed Smith LLP The Telephone Consumer Protection Act (the "TCPA"), 47 U.S.C. § 227, et seq . , protects consumers from unwanted calls, faxes, and text messages. This commentary first looks at insurance coverage claims relating...

Illinois’ Broad Duty to Defend Rule Is Put to the Test, and Prevails, for Now: Philadelphia Indemnity Insurance Co. v. Chicago Title Insurance Co.

By David Rosenfield, Attorney, Reed Smith LLP Illinois and numerous other jurisdictions adhere to the long-standing rule that if an insurer has a duty to defend a single count in a multi-count complaint, then it has a duty to defend the entire complaint. When an insurer recently tried to avoid...