Situation
A NY-based organization (acting as tax syndicator) with over 350 properties engaged us to review and modify the lender requirements and to ensure insurance compliance with the requirements from the various parties involved in a deal
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Topics: Claims Management, Real Estate, Real Estate & Development General Liability, Real Estate & Development Risk, Real Estate & Development Risk Management, Strategic Risk Management, Client Success, COI Compliance
The New Jersey Supreme Court recently reversed its position on coverage for construction defects, affirming the Appellate Division’s decision that consequential damages caused by a subcontractor’s faulty workmanship constituted “property damage” caused by an “occurrence” under the plain language of the developer’s Commercial General Liability (CGL) policy.
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Topics: Claims Management, Commercial General Liability Coverage, Commercial General Liability Insurance Risk, Construction Project Risk, NJ Supreme Court Cypress Pointe v Adria Towers, Real Estate, Real Estate & Development General Liability, Real Estate & Development Risk Management, Risk management, Risk Management Blog