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New York Court of Appeals Rejects Insurance Company's Use of Limitations Period "That Renders Coverage Valueless"

Rejecting a "heads we win, tails you lose" insurance company argument, the New York Court of Appeals has found that an insurance company cannot enforce a two-year suit limitation period on a property claim for “replacement cost” while simultaneously urging that the policyholder...

New York’s Highest Court Holds Limitation on Suit Provision Unreasonable

In its recent decision in Executive Plaza, LLC v. Peerless Ins. Co ., 2014 NY Slip Op 898, 2014 N.Y. LEXIS 165, [ enhanced version available to lexis.com subscribers ], the Court of Appeals of New York, New York’s highest court, on a question certified from the United States Court of Appeals for...