Article Archives >> Lead Stories >> February 1-15, 2006
Preview of Article:
Insurance doesn’t cover claim
for goods missing from storage company
Court says exclusion for “personal property”
includes business property as well as that for personal use
When property used by a business that prepared gift baskets for sale disappeared from a storage facility operated by a nonprofit organization, the business sued for $82,000 in damages. The nonprofit turned to its general liability insurer for a defense.
The insurer said the claim was not covered because of a policy exclusion denying coverage for damage to “personal property that is in the care, custody or control” of the insured. When the nonprofit sued the carrier to obtain a defense, the federal District Court in New Jersey agreed with the carrier that the exclusion precludes coverage.
Article Archives >> Lead Stories >> February 1-15, 2006
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