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In thisUpdate, Jenner & Block Partner Jan A. Larson and Associate Alexander J. Bandza discuss the implications of Nat’l Union Fire Insurance Co. of Pittsburg, Pa. v. TransCanada Energy USA Inc. The Appellate Division of the Supreme Court of New York held that coverage under an “all-risks” policy extended to losses resulting from damage to a power-generating turbine and a subsequent outage, notwithstanding that the precipitating cause occurred prior to the policy period. This case underscores that the specific wording of the terms and provisions of an insurance policy can be outcome-determinative as applied to the facts and circumstances of the loss and a policyholder’s ability to obtain insurance coverage. The Update was reprinted in Law360.