11th Circ. Cuts QBE Insurance Payout In Hurricane Suit

Law360, New York (September 15, 2010, 5:37 PM EDT) -- A federal appeals court has trimmed a damage award against QBE Insurance Corp. from nearly $25 million to $11.3 million in the insurer's dispute with a condominium association over hurricane damage.

The U.S. Court of Appeals for the Eleventh Circuit issued the ruling Tuesday, throwing out a jury verdict requiring QBE to pay Buckley Towers Condominium Inc. nearly $20 million upfront to cover repair costs from Hurricane Wilma in 2005. The district court later added about $5 million in prejudgment interest.

Generally, the policy at issue...
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