SDV Insights

Shifting Focus: Examining Changes to Florida's Insurance Fee Shifting Statute

Florida's Senate Bill 76 went into effect July 1, 2021. It dramatically shifted how certain claimants recover attorney's fees in both commercial and residential property insurance cases, while simultaneously including specific notice requirements as a prerequisite to filing suit. The new sliding scale of determining fees and 10-day notice requirements as a prerequisite to filing suit against an insurer may have created more hurdles to just and equitable recovery for policyholders.

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What is Builder's Risk Insurance?

Builder's risk insurance is specialized first-party property insurance that protects a project during construction or renovation. It is designed to react to losses that occur during the course of construction, with the goal of getting the project back up and running after a loss. This type of insurance is recommended for anyone with a financial interest in a property that is being built or renovated.

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Achieving Business Resiliency to Natural Disasters Through the Lens of Risk Management and Insurance

Natural disasters have been occurring more frequently and with greater potency, creating a real and heightened financial and operational risk to businesses around the globe. This article aims to enhance traditional business continuity techniques and strategies by discussing how risk management, insurance and claims knowledge can form a robust platform from which to minimize the impacts of natural disasters on business.

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Top 10 Insurance Cases of 2021

Both state and federal courts across the country wrestled with insurance coverage for COVID-19 business interruption claims throughout 2021 with no foreseeable end in sight. That didn't prevent courts from addressing a myriad of other interesting coverage dilemmas, stemming from ransomware incidents, Biometric Information Privacy Act claims, and SEC-ordered corporate disgorgements.

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What is Labor Guard?

Labor Guard is a project-specific insurance policy for project owners and general contractors operating in New York. The fundamental principle of the program is good risk transfer. SDV is retained to review subcontractor insurance policies and ensure that they meet specific minimum requirements, which are critical to transferring claims off the owner or general contractor's insurance program and on to the responsible subcontractor's insurance.

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Third Circuit Holds That Duty to Indemnify "Follows" Duty to Defend

In a win for policyholders, the Third Circuit Court of Appeals recently affirmed a District Court's 2018 ruling, which held that the duty to indemnify follows the duty to defend where a settlement precludes a determination on the facts of the case relative to liability and apportionment.

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Checklist: What to Know About Wildfire Insurance Coverage

California, and the greater Western United States, has experienced devastating wildfires over the last ten years. Not only are the fires more destructive than years past, they are no longer constrained to specific seasons. Because one of the effects of climate change is a dryer and hotter climate in the West, California is susceptible to fires year round. This means that it is increasingly a matter of when, not if, your home or business may be susceptible to a wildfire.

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New York Court of Appeals Holds SEC Disgorgement Payment is a Covered Loss in Policyholder Win

In J.P. Morgan Securities Inc. v. Vigilant Ins. Co., the New York Court of Appeals recently issued a policyholder-friendly ruling finding a $140 million disgorgement payment to the SEC was not a "penalty imposed by law" and was therefore not excluded from qualifying as a covered "loss" under a professional policy issued to securities brokers and dealers.

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Delaware Doles Out Win For D&O Corporate Fraud Insurance Coverage

A recent Delaware Supreme Court decision addressed two important issues for directors and officers ("D&O") policyholders incorporated in Delaware: 1) As a matter of public policy, whether insurance is available to cover fraudulent conduct by a corporation's directors or officers; and 2) When a D&O corporate liability policy lacks an effective choice of law provision, which state's law should be applied?

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Montana Federal District Court Finds for Insurer in Pollution Coverage Dispute

Applying Louisiana law, a recent federal court decision exemplifies why policyholders should thoroughly read claims-made policies to understand when notice is due to insurers and truthfully complete policy applications.

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