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The insuring clause in most property insurance policies requires that there by "physical loss or damage" to insured property. This threshold requirement is clearly satisfied when insured property has been physically altered by perils such as fire or water. But when the structure of the property itself is unchanged, at least to the naked eye, and the insured claims the property's value, usefulness, or functionality has been destroyed or diminished, questions arise as to whether coverage is triggered under a property policy.
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Recent Developments In Insurance Coverage Litigation
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