5th Circ. Trims $2.8M Award In Post-Katrina Insurance Suit

Law360, New York (July 21, 2011, 6:15 PM EDT) -- The Fifth Circuit on Wednesday affirmed an award of more than $1.5 million to the owner of a New Orleans apartment complex from Landmark American Insurance Co. for lost business income following Hurricane Katrina and other events, but reversed a $776,000 penalty.

The Eastern District of Louisiana had awarded Berk-Cohen Associates LLC nearly $2.8 million, which included prejudgment interest, in September. The three-judge appeals panel nixed the penalty that the trial court imposed on Landmark for refusing to cover additional lost business income that Berk-Cohen claimed...
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