Tag: contractual terms

The Constitution of the United States Prohibits Legislation Altering the Terms of Insurance Contracts to Force Provision of Coverage or Nullifications of Exclusions Under Commercial Policies – It’s a Two-Way Street – Cannot Impair the Obligation and Cannot Enlarge a Remedy or Create a Contractual Right that Would Not Otherwise Exist Under the State of the Terms of the Contract Before Legislative Alteration

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Can a state legislature force an insurer to cover a loss / risk where it is either not covered by the plain terms of the policy’s coverage provisions, or excluded by the policy’s exclusions and/or endorsements without violating the prohibition found in the United States Constitution against impairment of the obligations of contracts? Article I, [...]

Court of Appeals Rules Disagreement Over the Terms of Settlement Contract Not an Ambiguity Over What Terms Actually Mean

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This is an interesting, if not unsurprising, case in which the Court of Appeals affirmed a trial court's finding concerning what the terms of a settlement contract were in a dispute over their meaning. The plaintiff and the defendant's insured entered into a settlement agreement in which the plaintiff repaid the insurer an amount to [...]