Am I hearing you right? Are you saying you hope US vendors and the builder’s insurance carrier go under on defends cost for defending a product liability lawsuit? Or am I reading to much into this comment?
The question is, did the US vendors know the drywall was defective and sold it to US consumers? If so, then US vendors would have exposure to product liability lawsuits.
To your Question No!!!!!. Insurance companies are denying claims as they are made and when the date of your renewal, if you have china drywall, they may choose not to do business with you and therefore, they may not renewal the policy contract.
Insurance companies cannot cancel a policy mid-term unless there is deception or fraud on the part of the policy holder. Here, the defefective drywall is not the fault of the homeowner.
Curious: The homeowners are going after the builder’s carrier. The hope was for the homeowner’s carrier to pay the initial claim and fix the house. That way the insured has no out of pocket expenses and is free to sue the builder for punitive damages. Why not force the insurance carriers to subrogate against themselves. Fortunately this did not happen. This is a terrible situation for many but not the homeowner carrier’s fault or problem.
I agree with your comments. For the insurance company to subrogate there has to be a liability claim such as the home burned due to the drywall igniting and burning the remainder part of the house, or something like that!!!. Fire would be a covered peril under the policy, which would trigger a cause for subrogation.
At the risk of beiing redundant I offer two suggestions. 1. Try at all costs to avoid buying Chinese products as little regard is made for the results to injury to the end user including their own citizens. 2. Look at the retailer/wholesaler who sold the inferior product. If this was an auto rather than drywall evertone in the product chain would be named.
Typically I would agree that the Gov’t should stay out of this but we’re talking about a Gov’t that has felt compelled to meddle in areas like “steroids in baseball”. So now it’s time for the Gov’t to step up and help us deal with a real problem – a foreign Gov’t. Who else can deal with the Chinese? The Chinese have a terrible record with regards to pollution, dangerous products, etc. The Chinese need to rectify this situation.
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There was a shortage of US drywall after the hurricanes. Cost of US drywall went up making the Chinese drywall look attractive. Pretty simple.
Am I hearing you right? Are you saying you hope US vendors and the builder’s insurance carrier go under on defends cost for defending a product liability lawsuit? Or am I reading to much into this comment?
Santos
The question is, did the US vendors know the drywall was defective and sold it to US consumers? If so, then US vendors would have exposure to product liability lawsuits.
Santos
I doubt vendors know anything other than one’s made in US and the other’s made in China.
To your Question No!!!!!. Insurance companies are denying claims as they are made and when the date of your renewal, if you have china drywall, they may choose not to do business with you and therefore, they may not renewal the policy contract.
Insurance companies cannot cancel a policy mid-term unless there is deception or fraud on the part of the policy holder. Here, the defefective drywall is not the fault of the homeowner.
I hope this will answer your question.
Curious: The homeowners are going after the builder’s carrier. The hope was for the homeowner’s carrier to pay the initial claim and fix the house. That way the insured has no out of pocket expenses and is free to sue the builder for punitive damages. Why not force the insurance carriers to subrogate against themselves. Fortunately this did not happen. This is a terrible situation for many but not the homeowner carrier’s fault or problem.
I agree with your comments. For the insurance company to subrogate there has to be a liability claim such as the home burned due to the drywall igniting and burning the remainder part of the house, or something like that!!!. Fire would be a covered peril under the policy, which would trigger a cause for subrogation.
Are insurers canceling homeowner policies mid-term as well as non-renewing. Not clear in article.
At the risk of beiing redundant I offer two suggestions. 1. Try at all costs to avoid buying Chinese products as little regard is made for the results to injury to the end user including their own citizens. 2. Look at the retailer/wholesaler who sold the inferior product. If this was an auto rather than drywall evertone in the product chain would be named.
Typically I would agree that the Gov’t should stay out of this but we’re talking about a Gov’t that has felt compelled to meddle in areas like “steroids in baseball”. So now it’s time for the Gov’t to step up and help us deal with a real problem – a foreign Gov’t. Who else can deal with the Chinese? The Chinese have a terrible record with regards to pollution, dangerous products, etc. The Chinese need to rectify this situation.