5th Circ. Rules RSUI Must Cover Wind And Flood Damage

Law360, New York (August 6, 2010, 3:29 PM EDT) -- Insurer RSUI Indemnity Co. will potentially have to pay out millions for damage a Louisiana commercial property owner suffered during Hurricane Katrina, following a federal appeals court's ruling against RSUI's interpretation that its policy covered only wind or flood damage — but not both at the same time.

Property owner Stewart Enterprises Inc.'s second-layer excess insurance policy with RSUI also covers flood damage not covered by its primary policy or first excess policy, up to a $25 million limit, the U.S. Court of Appeals for the...
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