Recently, there has been a surge in commercial insurance lawsuits, particularly those involving special property coverage. Some of the companies involved in these lawsuits include the Bouchon Bistro and French Laundry. Others, such as a Cleveland, OH bridal retailer, claim that their policies did not adequately protect them against disasters. However, many policies contain exclusions that may make them uninsurable. Listed below are some of the issues that may make you eligible for a Commercial Insurance Losses lawsuit.
Cincinnati Insurance sued Cincinnati Insurance
In a recent commercial insurance losses lawsuit against Cincinnati Insurance Company, two restaurant owners were awarded damages for the COVID-19 outbreak. The owners had sought coverage under their policy for losses related to the epidemic. Cincinnati Insurance Company denied their claim, saying the policies cover “accidental physical loss.” However, the insurance coverage does cover “financial setbacks.”
In the same case, a 64-year-old woman sustained neck trauma when someone struck her car, injuring her friend. She sued the driver, Cincinnati Insurance, and Liberty Mutual for failing to provide full UIM benefits. After the driver tendered their policy, Cincinnati Insurance counsel argued that the injuries were unrelated to the impact and were not related to her policy. Despite Cincinnati Insurance’s argument, a Prince George’s County jury awarded her $500,000 in damages.
French Laundry and Bouchon Bistro filed a commercial insurance lawsuit
In March 2020, the owners of the fine dining restaurant The French Laundry and the popular eatery Bouchon Bistro filed a commercial insurance lawsuit against The Hartford and the company that issued their policy. The restaurants’ insurance policies were upgraded to Property Choice Deluxe Form, which specifically covers losses caused by a virus. The owners of the two restaurants are asking the court to order the insurer to cover their loss and reimburse them for their expenses.
The two French restaurants, owned by Thomas Keller, have filed a lawsuit against their insurer, arguing that it failed to cover the cost of the coronavirus pandemic. They claim that the insurer was wrong to deny their claims, citing that the closure of their restaurants had prevented patrons from visiting their eateries. This decision may be a result of the fact that the state of Minnesota does not require restaurants to stay open for delivery or takeout. However, when a business closes without giving proper notice, it is difficult to secure commercial insurance coverage. Moreover, the insurer will need a certain amount of time to make sure that their customers are aware of the closure and that they can contact the company.
Claims denied or underpaid
Underpaid and denied claims are a common problem in insurance companies. In many cases, insurance companies intentionally deny claims or pay lower amounts than expected. The insurance companies use a claim software system to consistently underpay claims. The underpayment of insurance claims is illegal. If you are denied a claim, you should file a lawsuit. You may be eligible for compensation for your losses. Moreover, if you have incurred losses due to a policy defect, you may be entitled to financial compensation.
If you’ve received a denial for a covered claim, you should immediately file a commercial insurance losses lawsuit. It’s important to file a lawsuit if the insurance company has deliberately delayed payment or denied your claim. Your lawsuit may be successful if the insurance company has been acting in bad faith. If you’re dealing with an insurance company that is denying claims, you should hire an experienced insurance law firm. A skilled insurance attorney can prevent your case from moving forward due to the insurance company’s defensive tactics.
Exclusions in policies
Commercial insurance policies contain multiple lists of exclusions. A standard business owner’s policy contains two lists of exclusions: property and liability. In some cases, insurers create separate lists for these coverages, and others will simply include a list of exclusions for each. In some cases, the exclusions are more general, and a policy may have exclusions for all types of coverage. For example, a standard business auto policy may not cover accidents that occur outside the designated “coverage territory.”
The California Court of Appeal recently ruled in Global Modular, Inc. v. Tessera, Inc., which highlights a trend toward narrowly construing exclusions in commercial insurance policies. In this case, the exclusion for infringement of intellectual property rights did not bar coverage for claims arising from a patent licensing agreement. However, this trend has not reached the lower courts yet. Therefore, policyholders should look at their policies closely when evaluating whether to pursue an insurance claim in California.
Cost of filing a claim
Depending on the circumstances of the claim, the cost of filing a commercial insurance loss lawsuit can be as much as $42,000. However, the rising costs are not unavoidable. While insurance companies are in business to make a profit, they also need to pay claims fairly. Underwriting guidelines will help to determine the likely damages awarded. For instance, if a claim is for $100 million, a company can buy $90 million in limits, which is above the $10 million retention and policy deductible. In this way, even if a lawsuit is unsuccessful, the insurers will be liable for $90 million in damages.
A commercial insurance loss lawsuit involves hiring a lawyer to represent you. This lawyer should have a good reputation and experience in handling insurance claims. The cost of litigation includes court costs, expert witnesses, and lawyers’ fees. The insurance company also pays for experts, which will cost money. It is important to be prepared for possible litigation before filing your claim. If you fail to file it on time, you may lose the case.