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N.Y. High Court Approves Consequential Damages Claims Against Insurers
A Court of Appeals decision that commercial property owners can assert a claim for consequential damages against insurers that breached their policies caused a sharp disagreement among the judges. Five agreed commercial insurance consumers should be able to recover damages above policies' stated value if damages are the "natural and probable consequence" of a breach of contract. Dissenters accused their colleagues of legitimizing punitive damages in breach claims by renaming them "consequential" damages.