Remember the Veterans and All Who Gave Their Lives For Our Country, Including Chaney, Schwerner, and Goodman!
The Federal First Circuit has issued a pair of 2-to-1 decisions affecting Insurance issues that are significant to people and businesses struck by Hurricane Sandy and many other Catastrophes.
Both decisions were issued on the same day.
Both involve alleged class actions by Mortgagors suing back against a Lender's alleged national program of force-placed or lender-placed Flood Insurance.
Both involve Bad Faith claims.
The first of the two cases involves New Jersey Insurance Law: Kolbe v. BAC Home Loans Servicing, LP d/b/a Bank of America, 695 F.3d 111 (1st Cir. September 21, 2012).
The other case involves Massachusetts Insurance Law: Lass v. Bank of America ["BOA"], 695 F. 3d 129 (1st Cir. September 21, 2012).
In future posts, we will explore the significance these decisions offer in common both to Homeowners and to Commercial Property owners particularly after the onslaught of the Hurricane Sandy Catastrophe and before the avalanche of Claims as a result.
To be continued .....
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