For several years now since the beginning of the Great Recession, lawyers specializing in construction defect litigation for developers, designers and contractors have predicted a dramatic slowdown in claim frequency.
A class action lawsuit was filed against the insurance industry in the United States District Court, District of Colorado, on June 21, 2014. The suit names more than 100 insurers writing property policies, as well as trade groups and other trade and business organizations, such as ACORD Corporation, the American Association of Insurance Services, the Casualty Actuarial Society, and McKinsey & Company. Snyder, et.al. v. Acord Corp., et.al., 1:14-cv-01736-JLK.