Fire Insurance Fire insurance is commonly understood as property insurance and is used to cover a loss caused by “hostile” fire, but not friendly fire.  A “friendly fire” is contained in the intended place, such as a fireplace, furnace or ...

Traditionally, insurance can be classified according to risks covered in three primary categories: (1) life insurance; (2) fire and casualty insurance; and (3) marine and inland insurance. Insurance companies were initially limited by statute to writing insurance in only one ...

The insurance claims area of insurance law is also widely known as insurance defense since these cases almost invariably test whether denials of claims are proper.  When an insured is sued by another party for a covered injury (as in ...

Coverage issues arise when the policy holder and the insurer disagree as to whether a policy covers an event or as to the meaning behind the language or important terms in the policy itself. This area of insurance law focuses ...

Insurance is a type of contract designed to provide protection from possible financial loss. For the contract to be recognized as an insurance contract, it must feature three elements: (1) risk-distribution; (2) substantial membership; and (3) an insurer engaged in ...

Default The last substantive title of Article 9, the 9-600’s, governs default.  Article 9 does not define default but does detail the remedies available to a secured party upon a debtor’s default and sets forth the procedure for executing those ...

Assume a widget retailer has a wide array of assets, including manufacturing equipment, a warehouse full of inventory and accounts receivable from customers who pay their invoices after receiving widgets. One day, the business stops operating, realizing that its debts ...

Imagine the following scenario. There’s a widget manufacturing business with a wide array of assets, including manufacturing equipment, a warehouse full of inventory and accounts receivable from customers who pay their invoices after receiving widgets.  One day, the business stops ...

While granting a security interest gives a creditor rights against the borrower to seize the collateral property, perfecting a security interest gives the creditor superior rights to other creditors. Perfecting a security interest puts the world “on notice” of an encumbrance on ...

The Uniform Commercial Code provides the legal framework that governs commercial business transactions. The UCC’s eleven articles set out the laws on “the sales of goods, leases, negotiable instruments, bank deposits, funds transfers, letter of credit, bulk transfers, bulk sales, ...