Law.com Subscribers SAVE 30%
Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
How Do You Know When Your Loss Ensues?
An ensuing loss provision is an exception to an exclusion in a first-party property policy that applies where the damage caused by an excluded peril operates as a link in the “chain of events” that enables a covered peril to damage other property. See IRMI Glossary of Insurance and Management Terms, http://bit.ly/1aPLMLA. The effect of the provision is that ensuing losses stemming from uncovered events will be covered, as long as such losses would otherwise be covered under the policy. Consequently, an understanding of the provision is vital to commercial property landlords and tenants.
Ensuing loss provisions are found in all risk policies, including commercial first-party property policies and builder's risk policies. See Acme Galvanizing Co. v. Fireman's Fund Ins. Co., 221 Cal. App. 3d 170 (Cal. App. 1st Dist. 1990) (commercial first party); Wal-Mart Stores, Inc. v. Gulf Ins. Co., 2005 U.S. Dist. Lexis 46592 (D. Or. 2005) (commercial first party), aff'd, 250 Fed. Appx. 221 (9th Cir. 2007); Alton Ochsner Med. Found. v. Broadmoor Constr., 219 F.3d 501 (5th Cir. La. 2000) (builder's risk); and Laquila Constr., Inc. v. Travelers Indem. Co. of Illinois, 66 F. Supp. 2d 543 (S.D.N.Y. 1999) (builder's risk).
This premium content is locked for Entertainment Law & Finance subscribers only
ENJOY UNLIMITED ACCESS TO THE SINGLE SOURCE OF OBJECTIVE LEGAL ANALYSIS, PRACTICAL INSIGHTS, AND NEWS IN ENTERTAINMENT LAW.
- Stay current on the latest information, rulings, regulations, and trends
- Includes practical, must-have information on copyrights, royalties, AI, and more
- Tap into expert guidance from top entertainment lawyers and experts
Already a have an account? Sign In Now Log In Now
For enterprise-wide or corporate acess, please contact Customer Service at [email protected] or 877-256-2473
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
Judge Rules Shaquille O'Neal Will Face Securities Lawsuit for Promotion, Sale of NFTs
A federal district court in Miami, FL, has ruled that former National Basketball Association star Shaquille O'Neal will have to face a lawsuit over his promotion of unregistered securities in the form of cryptocurrency tokens and that he was a "seller" of these unregistered securities.
Blockchain Domains: New Developments for Brand Owners
Blockchain domain names offer decentralized alternatives to traditional DNS-based domain names, promising enhanced security, privacy and censorship resistance. However, these benefits come with significant challenges, particularly for brand owners seeking to protect their trademarks in these new digital spaces.
Why So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It
Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.