Gibson Sues Insurer For $17M Over Flood Damage

Law360, New York (March 3, 2011, 1:57 PM EST) -- Gibson Guitar Corp. launched a lawsuit Wednesday seeking reimbursement for $17 million worth of property it lost during floods last year in Nashville, Tenn., claiming one of its insurers is using a technicality to shirk its obligations.

In its complaint, Gibson asked the U.S. District Court for the Middle District of Tennessee to force Mitsui Sumitomo Insurance USA Inc. to pay the roughly $7 million it allegedly owes Gibson under an excess warehouse insurance policy.

The complaint also names as a defendant Continental Insurance Co., which...
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