Business Services Industry
Legal Briefs: Property policy exclusion ambiguous, court rules.(insurance industry cases)(Brief Article)
Business Insurance, May, 2001
An exclusion from a commercial all-risk insurance policy for loss or damage caused by settling was ambiguous and should be interpreted in favor of the policyholder, a Colorado appellate court has ruled. Russell Lee Novell purchased a commercial all-risk policy from American Guaranty & Liability Insurance Co.
for a building he owned. The policy excluded coverage for damage from settling, but if the loss or damage resulted from ``specified causes of loss,'' the insurer would pay for that resulting loss. ``Specified causes of loss'' was defined in part as ``water damage,'' including ``accidental discharge or leakage of water as the direct result of the breaking or cracking of any part of a system or appliance containing water.'' In 1993, Mr. Novell noticed...
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