Excess Insurer Off $2.5M Hook In Katrina Damage Case

Law360, New York (October 29, 2012, 1:54 PM EDT) -- An excess insurer on Wednesday escaped paying an additional $2.5 million to cover Hurricane Katrina damage at two Louisiana apartment complexes after a Massachusetts appeals court refused to ignore a primary insurer's payout and force the excess carrier to cover the total loss.

The apartment complex owners unsuccessfully argued that Landmark American Insurance Co. should fork over $8.7 million — the value of the damaged properties, rather than the $6.2 million it paid on top of the primary insurer's $2.5 million contribution.

Upholding a lower court...
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