So Lloyd\’s was named on the lawsuit, not because they were insuring the location at the time of the fire, but because they had made a coverage offer that was accepted but NOT YET IN FORCE…..and the plaintiff\’s attorneys believe that Lloyd\’s should be liable???? By this logic, if any ins. co. makes a coverage offer for a commercial account\’s upcoming renewal, but a major disaster strikes at the insured location between the time the quote is given and the time it would go into effect, then that insurance company should be on the hook. What a crazy, litigious society we live in!!! I feel horrible for all of the victoms here, but Lloyd\’s has no responsibilities if their coverage was not even in force at the time of the loss.
The only problem with this decision is the failure to make the claimant pay for the cost of defense Lloyd\’s or the brokers/agents had to pay.
So Lloyd\’s was named on the lawsuit, not because they were insuring the location at the time of the fire, but because they had made a coverage offer that was accepted but NOT YET IN FORCE…..and the plaintiff\’s attorneys believe that Lloyd\’s should be liable???? By this logic, if any ins. co. makes a coverage offer for a commercial account\’s upcoming renewal, but a major disaster strikes at the insured location between the time the quote is given and the time it would go into effect, then that insurance company should be on the hook. What a crazy, litigious society we live in!!! I feel horrible for all of the victoms here, but Lloyd\’s has no responsibilities if their coverage was not even in force at the time of the loss.