The insurer argued it couldn’t retroactively apply the assignment to the contractor because the policy was issued before the new statute was passed.
The state-backed Florida insurer has seen a huge uptick in policies the last two years, which has meant an increase in litigation costs, as well.
A New York state appeals court is allowing the New York Botanical Garden to go forward with a business-interruption loss suit against an insurer that refused to pay for losses due to COVID-19 shutdowns.
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