There is an interesting court decision popping up in California that involves the statute limitations. This summary comes from Ray Coates editor for the Weekly Law Resume, http://www.lowball.com/weekly/11-15-01.htm ;
"The Court concluded that a denial of a claim does not estop the insurer from asserting the one-year suite clause. However, where an insurer represents incorrectly to its insured that his loss is less than the policy's deductible amount, the insurer is estopped from raising the one-year suit clause if the insured proves he reasonably relied upon the representation in not bringing the lawsuit within the one-year period."
The word on the street here in LA is that several law firms and PA firms are beginning to actively pursue Vu claims. They believe that there is an opportunity for big bucks. I'm not so sure, does anyone have any thoughts or has anyone in California seen any claims reported as Vu?
Roy, I am almost sure that this came out of a case where the insured was denied a claim for being under the deductible and he left the property with the mortgage lender. They then filed a claim under the forced place policy and found that there was much more in damages than the deductible. Both sued after the statute of limitations had run out. If what I read is correct this will open up many such cases just like this one. You may just move out there. I sometimes wish I was still in the LA area. Good Luck, Jim Lakes, RPA
Vu Claims
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Posted - 08/29/2002 : 11:54:09
