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Eastern District of Pennsylvania Enforces Assignment of Statutory Bad Faith Claim to Water Mitigation Contractor

In nearly identical holdings, the U.S. District Court for the Eastern District of Pennsylvania in Royal Water Damage Restoration Inc. v. Allstate Vehicle Prop. Ins. Co. and Royal Water Damage Restoration v. State Farm Fire Cas. Co. recently found that Royal Water Damage Restoration, a water remediation company, has standing as an assignee to sue an …

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Eleventh Circuit Refuses to Infer “Follow the Fortunes” Clause in Reinsurance Contract

A “follow the fortunes” clause is an agreement within a reinsurance contract that imposes a duty on the reinsurer to honor and reimburse good-faith payouts by the insurer to the underlying claimant. In Public Risk Mgmt, of Fla. v. Munich Reinsurance Am., Inc., Munich refused reinsurance coverage on the grounds that the loss occurred before …

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Can cryptocurrency suffer direct physical loss?

Cryptocurrency, such as Bitcoin, Ethereum and Litecoin, is a digital or virtual currency.  Unlike traditional currency, cryptocurrency does not have any tangible existence, but rather exists purely as digital entries in an online database.  Given the relatively recent development of cryptocurrency, few courts have had occasion to address application of property insurance coverage principles to …

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PRESS RELEASE: Horst Krekstein & Runyon Announces New Partner

July 29, 2022 — Horst Krekstein & Runyon LLC (HKR), a nationally recognized law firm, announced today that Dan Grossman has been named a Partner. Mr. Grossman works in the firm’s Plymouth Meeting, Pennsylvania office. “Dan is a strong trial lawyer.  He’s also deeply committed to serving HKR’s insurance company clients.  It’s a pleasure to …

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Rob Runyon and Dan Grossman published in SIU Today

HKR’s Rob Runyon and Dan Grossman’s article, “Immunity Statutes: Protecting Open Communication Between Insurers and Law Enforcement“, was recently published in the Summer 2022 edition of SIU Today, an official publication of the International Association of Special Investigation Units. Fraud reporting remains an important issue in the insurance industry. At HKR, we are committed to …

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Improper Policy Cancellation Does not Support A Statutory Bad Faith Claim

The U.S. District Court for the Western District of Pennsylvania in Devein Dalessio Trucking, LLC v. Progressive Corp. recently held that Plaintiff’s statutory bad faith claim cannot be exclusively based on an allegedly improper cancellation of a policy and granted the carrier’s motion to dismiss. Pennsylvania’s bad faith statute is limited to causes of action …

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Matt Malamud and Lexie Doran published in PDI’s Counterpoint

HKR’s Matt Malamud and Lexie Doran’s article, “COVID-19 Business Interruption Coverage Litigation Update,” was recently published in the May 2022 edition of Counterpoint, an official publication of The Pennsylvania Defense Institute. Business interruption coverage for losses caused by the COVID-19 pandemic remains an important and rapidly developing issue. At HKR, we are committed to staying …

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The Importance of Specificity in Reservation of Rights Letters

Reservation of rights letters notify policyholders that all or some of their claims may not be covered under their insurance policies. Insurance companies may deny coverage for a variety of reasons including: (1) the provisions of the policy, (2) legal principles, and (3) actions of the policyholder.  To avoid waiving any of their available defenses, …

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