Month: September 2014

A third-party insurance policy provides coverage for an insured’s liability to third parties for personal injury or property damage.  This is in contrast to a first-party insurance policy, which provides coverage for damage to the insured’s own property.   An insurer generally has two obligations under a third-party policy:  (1) it must defend its insured in… Continue reading N.J. Appellate Division Rules No Coverage for Economic Losses Arising Out of the Sale of Faulty Materials

Most first-party property insurance policies contain a suit-limitation provision, which limits the amount of time an insured has to commence an action against its insurer.  The time generally ranges from one to two years.  Under New Jersey law, certain types of insurance policies are required by statute to contain suit-limitation provisions. Courts have uniformly enforced… Continue reading Limitations on the Right to Sue: Suit-Limitation Provisions Shorten the General Six-Year Contract Statute of Limitations

In a commercial lease agreement it is very common for the landlord and the tenant to agree to defend and indemnify each other in connection with certain claims.  Generally, the tenant will agree to defend and indemnify the landlord in connection with claims arising out of the use of the leased premises and the landlord… Continue reading The Landlord-Tenant Relationship and the Duty to Defend and Indemnify