Dec 2, 2008

Insurance:­ Prompt Notice of Claims

Water Damage

We have frequently reminded clients of the importance of promptly notifying their insurers of any actual, threatened or possible claims against them.  This has been especially important in New York because the New York Court of Appeals has held that an insurer may deny coverage due to late notification, regardless of whether the delay actually prejudiced the insurer.   During its 231st session, the New York State Legislature attempted to overrule this case law through legislation.   Under an amendment to Section 3420 of the New York Insurance Law, an insurer may now no longer deny a claim for untimely notice unless… Read more