New Jersey High Court Affirms Insurer Not Required To Show It Suffered Prejudice

(February 16, 2016, 12:31 PM EST) -- TRENTON, N.J. — The New Jersey Supreme Court on Feb. 11 affirmed a lower court’s ruling that a directors and officers liability insurer was not required to demonstrate that it suffered prejudice before denying coverage based on the insured's failure to give timely notice of an underlying claim stemming from a failed real estate transaction, finding that the “claims made” policy was “not a contract of adhesion but was agreed to by sophisticated parties” (Templo Fuente De Vida Corp. and Fuente Properties Inc. v. National Union...
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