Reducing Environmental Risk

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Month: November 2007

Absence of Property Damage During Policy Period

Under New York Law, property damage is deemed to occur within the period of an occurrence-based policy, if injury-in-fact takes place during the policy period. See Continental Casualty Co. v. Rapid-American Corp., 177 A.D.2d 61 (App. Div., 1992). An insurer may only...

Cost Cap Insurance Policy

Cost-Cap insurance policies pay for costs that exceed the estimated cost of a remedial plan. These policies typically have large "co-insurance" and deductible provisions, so that the insured must still pay a significant portion of the cost overruns. Policies are also...

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