ARTICLE · 21 MARCH 2022

Six-Year Delay Precludes Coverage – Farage v. Associated Insurance Management

Mound Cotton Wollan & Greengrass

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This case involved first-party property insurance coverage for fire damage to an apartment building located in Staten Island, New York. When her $1.3 million demand for replacement cost coverage was denied, ...

United StatesInsurance

Kevin F. Buckley

Court upholds suit limits clause in coverage dispute

Farage v. Associated Insurance Management Corp., et al., 2021 NY Slip Op. 50653(U), 2021 WL 2908692 (Sup. Ct., N.Y. Cnty. July 2, 2021)

This case involved first-party property insurance coverage for fire damage to an apartment building located in Staten Island, New York. When her $1.3 million demand for replacement cost coverage was denied, the plaintiff commenced suit against several insurers for breach of contract, and against a number of insurance brokers for negligence in securing coverage. Certain insurers filed a pre-answer motion to dismiss on the grounds that the action was untimely under the two-year contractual limitations period in the policy, and the plaintiff failed to provide notice of her intent to seek replacement cost coverage within 180 days of the loss. Several brokers moved to dismiss the complaint as well.

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