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EDWARDSVILLE A Collinsville-based finance company facing class actions for allegedly repossessing debtors vehicles, alleges its insurance carrier has failed to provide indemnification per the insurance policy.
Universal Credit Acceptance Inc., filed a complaint Feb. 19 in the Madison County Circuit Court against Zurich American Insurance Company alleging breach of contract.
According to the complaint, Universal Credit Acceptance claims it is facing multiple class action suits and that its insurance carrier, Zurich American, has reused to indemnify it in defense of the litigation. Universal alleges it entered into an insurance policy agreement with Zurich American for property and liability coverage and that the policy was effective from Dec. 1, 2008 through Nov. 1, 2016. Universal claims it has paid and will pay hundreds of thousands of dollars to settle one of its lawsuits. Zurich allegedly agreed there was coverage under its policy b
Maryland’s highest court adopts pro rata allocation for asbestos-related bodily injury claims under liability policies. The court began by explaining that injury spanning many years often implicates multiple policies and, therefore, implicates a continuous or injury-in-fact trigger under Maryland law. Adopting the reasoning of
Mayor & City Council of Baltimore v. Utica Mutual Ins. Co., 802 A.2d 1070 (Md. Ct. Spec. App. 2002)
, app. dismissed, 821 A.2d 369 (Md. 2003), it rejected joint and several allocation because of its “poor fit” under the policy language:
[T]he pro rata approach is unmistakably consistent with the language of standard CGL policies. Indeed, “there is no logic to support the notion that one single insurance policy among 20 or 30 years worth of policies could be expected to be held liable for the entire time period.” …Consistent with the policy language limiting coverage to that which occurs “during the policy period,” the timing of the injury di
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Owner of theWit Hotel in Chicago Sues Zurich American Insurance for Lost Income Resulting from May 30, 2020 Events of Civil Unrest
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CHICAGO, Feb. 2, 2021 /PRNewswire/ The owner of theWit hotel, an anchor of Chicago s revitalized theater and Loop business districts, and home to ROOF, the world-famous rooftop bar and lounge, filed suit last week in the Circuit Court of Cook County against Zurich American Insurance Company ( Zurich ) related to Zurich s wrongful and bad faith denial of insurance coverage arising out the physical damage to and prolonged closure of theWit resulting from the events of civil unrest that occurred in Chicago on May 30, 2020.
In a scenario that has played out across the country for nearly a year now, a group of restaurants based in Ohio were ordered by government authorities to close their on-site dining.