Insurance News for Today – December 2, 2010
Posted: December 2, 2010 Filed under: insurance | Tags: insurance Leave a comment »
Chinese Drywall – An important development has occurred in the Chinese Drywall continuing saga. In Miami on December 1, 2010. A federal judge in Miami dismissed a Chinese drywall lawsuit. Judge Alan Gold of the U.S. District Court for the District of Florida issued an order dismissing the case between National Union and F. Vicino & Co. Inc. and its two subsidiary companies—F. Vicino Drywall Inc. and F. Vicino Drywall II Inc.—granting the insurer’s motion to dismiss on lack of subject matter jurisdiction.
According to court documents, National Union, a subsidiary of Chartis Inc., issued three umbrella insurance policies to Deerfield Beach, Fla.-based F. Vicino Drywall that were provided on an excess basis.
In their motion to the court National Union said issued to Vicino contain a pollution exclusion and that it therefore was under no obligation to defend or indemnify the drywall company
The order issude by Judge Gold stated that it was possible that the contractor’s primary insurance will exceed limits due to the number of lawsuits it is involved in , National Union “failed to make any of those allegations in the complaint”.
In other news today…..
Georgia Storm Damage Estimated to be $5 Million http://www.insurancejournal.com/news/southeast/2010/12/02/115331.htm
Is Employer Liable for Drunk Employee???? Might want to read this one! http://www.insurancejournal.com/news/midwest/2010/12/02/115329.htm?utm_source=twitterfeed&utm_medium=twitter
Are Property and Casualty Rates Going Up in Florida?http://staugustine.com/news/local-news/2010-11-30/property-insurance-reform-reappears
And last for today, not sure about this one…….
The 2010 Hurricane Season Comes to an end and is in The Top 5??http://www.examiner.com/weather-in-lafayette-la/2010-hurricane-season-ends-top-5-most-active-season
That is today’s 411!
