Jury Blows Insurer Over With $4M Award For Property Manager

Law360, New York (January 30, 2012, 7:00 PM ET) -- A Florida federal jury returned a $4 million verdict Monday for Banta Properties Inc. in its $8.5 million coverage dispute with Arch Specialty Insurance Co. over whether the insurer owed the property management company for damage to apartment complexes caused by Hurricane Wilma.

After a week-long trial, the jury found Arch had breached its insurance policy agreement with Banta. It agreed with U.S. District Judge William P. Dimitrouleas’ eariler ruling, when he denied Arch's motion to dismiss, that Banta could have an insurable interest in the...
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