Legal Question in Insurance Law in Pennsylvania
Insurance company balks at payment
After storm damage, building was insured, I
hired sub-contractors more then three, different
trades.
So as the contractor you can charge 10% profit, 10%
overhead. This is standard and acceptable in this industry.
The insurance company refused to pay, saying because
we were a management company, they will not pay.
So when I file my suit what should I call it?
The head office said because we did not have a contactor
License in FL, where the building is, they will not pay.
Yet we reside here in PA, so where is the federal law
That would say we need this license?
Bad Faith? Failure to pay? Or?
1 Answer from Attorneys
Re: Insurance company balks at payment
Yes, it's customary, in the property insurance field, to add 10 and 10 to the subs total to allow for the general's costs and profits. But you're saying that you aren't using a GC, and you want to make a profit on the insurance claim.
Insurance is intended to cover ACTUAL losses. I don't think much of your claim, and I make my living suing insurance companies.
That's just my reaction. The case really would be subject to Florida law, because that's the loss location, unless your policy specifies some other state's law.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
