News & Results Posts Tagged ‘Appraisal’

Insurance Company Is Forced to Pay the Cost to Rebuild Hotel

Saturday, October 1st, 2011

Attorneys at Ward & Hagen represented the owners of a new hotel in the Hesperia area that burned during the late stages of construction. The insurer delayed making any payments for approximately 10 months and then only offered an amount which was less than the full reconstruction costs and damages incurred by the insured/owner. Litigation was commenced to make the owners whole by obtaining the full measure of policy benefits to reconstruct the hotel and consequential bad-faith damages for lost business income.

Ward & Hagen were successful in obtaining a substantial seven-figure payment from the insurer within a short period after being retained and thereafter argued the case through the policy’s appraisal process and obtained an award of over $760,000. Finally, Ward & Hagen also obtained additional settlement payments from the carrier through a confidential settlement of the bad faith claim reached after mediation conducted before Justice Howard Wiener (Ret.).

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