Strategies, Challenges, and Answers

At Renewal, An Insurer Must Give Adequate Notice Of Intended Policy Changes. Otherwise, The Policy Renews Under The Prior Terms

On November 21, 1980, a devastating fire swept through the MGM Grand Hotel in Las Vegas, Nevada.  The fire killed 85 people and injured more than 700.  A complete copy of the Clark County Fire Report can be downloaded HERE.At the time, the Grand Hotel Gift Shop served the guests of the hotel.  Fire destroyed the Shop resulting in damage of almost $1,000,000 including lost fixtures, inventory and business interruption.  The Gift Shop sued its insurance agent and its insurer Granite State … [Read more...]