Annual Meetings-Leased/ Rented Contractors Equipment - Kevin Buckley, Partner, Mound Cotton Wollan & Greengrass LLP

Leased/ Rented Contractors Equipment - Kevin Buckley, Partner, Mound Cotton Wollan & Greengrass LLP

Pdf Summary

The document discusses various scenarios related to leased or rented contractors' equipment and the corresponding contractual and insurance issues. It includes cases involving claims made to insurers for damaged or missing equipment. In one case, Martech USA, Inc. faced denial of coverage due to untimely reporting and exclusions for mysterious disappearance and entrustment. Another case involved a claim for a damaged generator, which was denied as it was not listed on the policy schedule. Additionally, issues such as mechanical breakdown and wear and tear led to denial of claims in different scenarios. One case highlighted the importance of notifying the police promptly after a loss. Furthermore, instances of theft, abandonment, and lack of insurable interest were reasons for denying claims in other situations. The document emphasizes aspects like coverage exclusions, policy limits, and the importance of complying with reporting and notification requirements for insurance claims related to leased equipment.

Asset Caption

Presented by : Kevin Buckley, Partner, Mound Cotton Wollan & Greengrass LLP

Keywords

contractors' equipment

leased equipment

rented equipment

contractual issues

insurance issues

coverage denial

policy exclusions

claims denial

insurable interest

notification requirements