A law recently passed by the New York State Assembly and signed by Gov. Kathy Hochul puts significant limits on the flood insurance that lenders can require borrowers to purchase on loans secured by residential real property. Commentary in the weeks since the law went into effect has focused on potential conflicts between the law
On December 13, the North Carolina Supreme Court gave policyholders a partial victory in long-running litigation over business interruption coverage for shutdowns during the COVID-19 pandemic. In North State Deli v. Cincinnati Insurance Co., the court unanimously agreed with the plaintiff restaurants and bars that their insurance coverage for “direct physical loss” included
Most policyholders are aware of the danger of losses from fraudulent instructions and invoices accomplished through what is known as “social engineering” or related methods. Often this is carried out by an email claiming to be from a vendor or company executive that provides instructions for payment to a fraudulent account. In some cases, the