Broker Negotiated Policy With No Sandy Coverage, NJ Co. Says

Law360, New York (December 17, 2012, 5:31 PM ET) -- A suit in New Jersey state court claims Willis of New Jersey Inc. failed to negotiate the proper insurance policy for Cardolite Corp., whose claim for $2 million worth of damage caused by Hurricane Sandy was rejected by its insurer because the company's policy didn't cover it.

Cardolite claims the insurance broker negotiated a property insurance policy for the company's production facility in Newark, N.J., with National Union Fire Insurance Co. of Pittsburgh, Pa., that didn't provide flood insurance, even though the facility was located in...
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