A product distributor in the oil-drilling industry was sued by several individuals claiming they were exposed to asbestos in the products distributed. The distributor subsequently filed claims with its multiple insurance companies seeking liability coverage. The insurers disagreed there was coverage for the liability claims under the policies. A series of declaratory judgment actions ensued
Homeowners’ Insurers Must Furnish Blank Proof Of Loss Forms Within 60 Days
The purpose of a sworn proof of loss is to document the amount claimed is accurate and a genuine loss. If it later turns out the claim was inflated or fraudulent, the sworn statement can be used by a prosecutor for insurance fraud in a criminal case or denial of the claim for insurance for