Insurer Asks 11th Circ. To Kill $4M Hurricane Damage Award
By Carolina Bolado
Law360, Miami (November 6, 2013, 6:53 PM ET) -- Arch Specialty Insurance Co. on Wednesday asked the Eleventh Circuit to overturn a $4 million verdict in a coverage dispute over damage to apartment complexes caused by Hurricane Wilma, saying that the property management company claiming the award does not have an insurable interest in the property.
In oral arguments before the appeals court, Arch's attorney Jacob Cohn of Cozen O'Connor said that Banta Properties Inc. did not have insurable interest in the apartment complexes because it merely managed the properties and did not own them....