NU Online News Service, July 2, 12:18 p.m. EDT
Insureds victimized by the Deepwater Horizon disaster are being warned that some carriers are planning to enforce contract provisions that they be notified of losses by July 8, according to Marsh.
In a notice issued yesterday by the New York-based insurance broker, Marsh said that "certain policies with pollution exclusion carve-out coverage contain time element provisions" requiring written notice to the carrier under the policy terms. A strict reading of some of these terms, as related to the Deepwater Horizon incident, would mean written notice will have to be provided to carriers "before 5 p.m. EDT, July 8, 2010."
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