What general rules apply to the interpretation of insurance policies?
• Any ambiguity or uncertainty must be interpreted in favor of the policyholder and against the company: • Words used in a policy are to be interpreted according to the plain meaning, which a layperson would ordinarily attach to them, not as an attorney or insurance expert might analyze them. • Coverage provisions will be interpreted broadly. Exclusions and limitations will be narrowly construed. • Insurance contracts are interpreted so as to accomplish the ‘objectively reasonable expectations of the insured.’ Q. What is meant by the term “Statute of Limitations”?A. A statute of limitations is the maximum amount of time that you have to file a formal claim, either with your insurance company or, (if the claim has been terminated or denied) in court. The statutes of limitation applicable to a particular claim depends on your policy, the theory of your case, and the laws of your state.For example, you may claim that the insurance company broke the contract (a contract claim) and/or that
