property insurance exclusions News

The insurance fallout from the Christmas Day 2020 bombing in downtown Nashville continues, with a federal court deciding this week that Aspen Specialty Insurance must cover millions in replacement costs for a heavily damaged condominium building. The insurer in 2021 …

Property insurance contracts often contain provisions requiring insureds to “incur” costs before insurance companies issue payments. For example, “ordinance or law” provisions provide “you may use up to 25% of the limit of liability that applies . . . for …