Notre Dame
#21
You are thinking of the liability claim against the responsible party. In the first instance, the owners (whoever they may be at this point in history, the president has already said "we will rebuild" so does the state own it?) will file a claim with the property insurer. There will be limits, of course, but the question is, how are the limits written? Are the aggregate, including all properties insured under the form, or are they per location? What about the fine arts? Are they subject to separate limits or part of the location or aggregate limits? There is always the possibility that the Government does not insure these buildings, but I'm guessing that at worst they have a high deductible or self insured retention.
#23
#24
Site Moderator
I'm pleased to see so many people/companies reaching into their pockets to help, I would've thought that's a positive thing in this day and age.
#25
Registered User
#27
#28
#29
It isn’t a slam on France. It is just common practice. Some jurisdictions impose a collateral source rule offsetting contributions against the amount of the insurance claim. Others reject that notion and will not allow the insurer to reduce its liability based on money the insured receives from other sources.
#30
Insurance law has some of the weirdest quirks you can imagine.
I had to take a risk management course while pursuing a fire protection masters. ( never finished)
case after case of oddball situations.
I had to take a risk management course while pursuing a fire protection masters. ( never finished)
case after case of oddball situations.