Litigation Update – Insurance Coverage and Contractual Rights
April 16, 2020
The Covid-19 crisis continues to present legal and economic challenges for individuals and businesses. Spengler Nathanson’s legal team is monitoring these evolving challenges, including those involving insurance coverage and contractual rights.
Insurance coverage issues may involve first-party coverage (e.g., whether insurance policies apply to loss of business income) or third party coverage (e.g., whether insurance policies provide for defense or indemnification of the policy holder if a claim is made against the individual or business). It is important to know the terms of your policy, what coverage is or is not provided, and what deadlines or exceptions may apply.
Another issue concerns the rights and obligations of individuals, businesses, and non-profits under contracts that might be impacted by the current economic conditions. This might include, for example, leases, contracts for goods or services, or contracts for upcoming events or fundraisers. Again, it is critical to be aware of the terms of your contract, so you can assess strategies moving forward and respond to the situation appropriately.
If you have any questions concerning insurance, contracts, or other litigation matters, we welcome you to contact us.
This article is meant to provide a summary of potentially applicable issues and updates, is not comprehensive as to all potential legal issues or topics, and is not legal advice.