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In a recent decision, New York’s Appellate Division, Second Department showed once again just how powerful New York’s insurance lobby is, and how, under the current structure of the law in New York, an insurer has almost no incentive to protect its clients – the insureds – by negotiating claims in good faith. Quite the [...]
As you may know, under New York law, every contract carries an implied covenant (i.e., promise) of “good faith and fair dealing.” 511 West 232nd Owners Corp. v Jennifer Realty Co., 98 NY2d 144, 746 NYS2d 131, 773 NE2d 496.
But what on earth does that mean?
It’s actually rather tricky; in fact, New York’s courts have [...]
If a jury sides with plaintiff on this issue, and finds that Allstate engaged in deceptive business practices (this law is codified at sections 349 and 350 of the General Business Law), Allstate faces the specter of not only compensatory damages for their alleged breach of contract, but also treble and punitive damages as well.
NY Breach of Contract Guide:
When You Don't Have a
Written Agreement
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