Collins Holding Corp. v. Wausau Underwriters Insurance

In this diversity contract case, Collins Holding Corporation (“Collins”), a commercial real estate company, sues Wausau Underwriters Insurance Company (“Wausau”), which insured a property owned by Collins that was destroyed by fire. Collins alleges that Wausau anticipatorily breached the insurance policy by imposing a deadline for Collins to rebuild, and then refusing to pay the replacement value of the property when Collins failed to meet the deadline. Further, Collins asserts that Wausau’s conduct in the negotiations breached an implied covenant of good faith and fair dealing. After Collins…