Horst Krekstein & Runyon, LLC (“HKR”) proudly announces the addition of The Mayers Firm and Joe Mayers, Esquire to HKR’s litigation practice

The arrival of The Mayers Firm’s lawyers and staff bolsters HKR’s insurance litigation practice, which focuses on high exposure/excess matters and liability defense.  HKR will continue to showcase a wealth of experience with complex litigation, appellate matters, and insurance coverage services. “I am excited to join HKR and look forward to contributing to the firm,” Mayers commented. “My team is tremendously experienced.  We’re …

Horst Krekstein & Runyon, LLC (“HKR”) proudly announces the addition of The Mayers Firm and Joe Mayers, Esquire to HKR’s litigation practice Read More »

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Maryland Federal Court Issues Conflicting Opinions on Waiver of Right to Appraisal

The U.S. District Court for the District of Maryland recently issued two opinions reaching opposing conclusions on whether a showing of actual prejudice is required to establish waiver of an insurance policy’s appraisal provision. In both cases, the court was asked to resolve a similar question: Whether an insured had waived its right to demand …

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Fourth Circuit Holds Cryptocurrency Cannot Suffer Direct Physical Loss

The U.S. Court of Appeals for the 4th Circuit held yesterday that a crypto theft is not direct physical loss. In Sedaghatpour v. Lemonade Ins. Co., one of the relatively few recent coverage decisions addressing cryptocurrency, the court considered a theft claim of over $170,000 in cryptocurrency stored in a “hot wallet,” an internet-connected cryptocurrency …

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Property in 60 seconds: Insurers Prevail in PA Supreme Court COVID Litigation

On September 26, 2024, via two decisions, Ungarean v. CNA and MacMiles v. Erie Insurance Company, the Pennsylvania Supreme Court confirmed what we, as an industry, have known since March of 2020 – economic loss alone, with an absence of direct physical loss or damage, does not constitute a covered first party property claim. The …

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Property in 60 Seconds: Massachusetts Supreme Court Addresses Surface Water

On July 23, 2024, the Massachusetts Supreme Judicial Court held that an accumulation of rainwater on a roof is not considered “surface water.”  Regarding a flood sublimit in a commercial policy, the policyholder argued that surface water only included water that reaches the surface of the earth.  In contrast, the insurer argued that the term …

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Property in 60 Seconds: Michigan Department of Insurance and Financial Services Addresses Depreciation of Labor

On July 3, 2024, the Michigan Department of Insurance and Financial Services (DIFS) issued a bulletin, which expressly prohibits insurance companies from depreciating labor when calculating actual cash value (ACV), unless the insured as agreed to the depreciation of labor in exchange for a lower premium.  According to DIFS: ACV is ordinarily understood to mean …

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Property in 60 Seconds: Texas Supreme Court Rebukes Contractor Endorsing Public Adjuster Licensing Statute

On June 7, 2024, the Texas Supreme Court issued an opinion upholding the State’s Public Adjuster Licensing Statute against a constitutional challenge by a roofing contractor.  The Court held that the statute’s licensing requirement, as well as the dual capacity prohibition, preventing a company from serving as both a contractor and a public adjuster in …

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Property in 60 Seconds: Clear Vacancy Language Earns Insurer Summary Judgment

On May 14, 2024, the Eastern District of Pennsylvania held that the Vacancy provision in a commercial property policy applied, barring coverage for a policyholder’s claim of over $13 million in theft/vandalism damages, while simultaneously denying allegations of bad faith.  In 4301 N Delaware QOB LLC v. Selective Insurance Company of South Carolina, the plaintiff policyholder sued Selective for breach of contract and …

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