• New York Court of Appeals Rules That Policyholders Can Seek Consequential Damages in First-Party Bad Faith Claims
  • April 2, 2008
  • Law Firm: Hunton & Williams LLP - Richmond Office
  • In two separate opinions, a five to two majority of the New York Court of Appeals ruled that an insured can assert a claim for consequential damages for an insurer's alleged bad faith breach of a first-party insurance contract. Bi-Economy Market, Inc. v. Harleysville Insurance Company of New York, No. 14 (N.Y. February 19, 2008); Panasia Estates, Inc. v. Hudson Insurance Company, No. 15 (N.Y. February 19, 2008).