Michael Troisi to speak at ABA Property Law Committee Webinar
June 27, 2012 | |Michael Troisi, a partner in the firm’s Insurance Coverage & Litigation and Litigation & Appeals Practice Groups, will be a speaker at the ABA Property Law Committee Webinar entitled, “Recovery of Consequential Damages Resulting from an Insurer’s Breach of Contract: Bi-Economy Market and Beyond.”
By way of further background, Bi-Economy presages a sea-change in NewYork insurance law, especially because it held that consequential damages beyond policy proceeds were foreseeable as a matter of law. The rationale of the case can be used in virtually every state and it is an approach to recovery of consequential damages that could up the stakes in all types of insurance coverage litigation, possibly even without bad faith.
The program will cover:
- Basic principles concerning the recovery of consequential damages resultingfrom an insurer’s breach of contract
- The key holdings of the New York Court of Appeals decisions in Bi-Economy v. Harleysville and Panasia Estates v. Hudson Ins. Co. and resulting uncertainty under New York law as to when and under what circumstances consequential damages can be recovered
- A survey of decisions across the country analyzing the recovery of consequential damages under Bi-Economy and Panasia Estates
- Where we are now and what we can take away from the Bi-Economy and Panasia Estates decisions
