Years ago, there was a comedy ensemble variously called “The Dead End Kids,” “The East Side Kids,” and, finally, “The Bowery Boys.” (They were made famous in the 1938 Cagney/Bogart film, “Angels With Dirty Faces.”) The protagonist of the group was a character named “Slip” Mahoney, played by the actor Leo Gorcey. Slip would routinely
Valuation
“Ordinance or Law” Coverage for Costs of Repair
I was saddened to learn that Judge Ruggero Aldisert, formerly of the Third Circuit, recently passed away. I never had the privilege of appearing before Judge Aldisert, and I never met the man, but I feel indebted to him for writing two excellent books that were published through NITA: “Logic for Lawyers” and “Winning on…
Calculating Business Interruption Damages
By Gene Killian on
When I was in college, there was an English professor named Frank Kinahan, who taught a class called “The Little Red Schoolhouse.” A lot of my fellow students (not me, of course!) apparently thought that if they could just write their papers in enough of an arcane and convoluted manner, people (including their professors) would…
The Appraisal Provision in First-Party Property Policies
By Gene Killian on
I’m not a big fan of arbitration. I think it costs too much (which kind of goes against its main marketing point), and I don’t particularly like the fact that there’s no right of appeal absent the arbitrator committing fraud. Having said that, and with so many Sandy-related claims still pending in New Jersey, I…
How to prove a business interruption loss
By Gene Killian on
I once heard a veteran of the complex commercial litigation wars describe the process as follows. “Each side hires an expert,” he said, “and the preponderance of perjury prevails.”
A cynical – if funny and unfortunately too-often-accurate – view. Recognizing that expert witnesses are, in essence, paid advocates, the Supreme Court formulated the Daubert and…
Fire insurance, coinsurance and apportionment of loss
By Gene Killian on
The terrible fire in Seaside Heights last week got me to thinking about some of the vagaries of fire insurance. (As an aside, the people along the Jersey Shore absolutely can’t catch a break.)
The contents of fire insurance policies are heavily regulated by statute. An interesting case recently came up in the Second Circuit…
The Coinsurance Penalty and Replacement Cost Coverage
By Gene Killian on
I confess: I sometimes wonder whether some claims personnel have ever heard of the “red face” test. In other words, you should only take a negotiating position if it doesn’t actually cause you to blush. Otherwise, how could seemingly rational people contend that buying “expanded” coverage means that the policyholder has no coverage? (And how…
Actual cash value and replacement cost
By Gene Killian on
Large first-party property damage cases often come down to a battle of accountants. In other words, unlike Olympic beach volleyball, they’re usually not particularly thrilling to watch. (Not that I have anything against accountants.) But the results of the battle can have a major impact on the policyholder’s balance sheet. How is the policyholder’s claim…