Axis Aims To Nix Coverage In Philly RE Partnership Feud

Law360, Philadelphia (November 01, 2013, 2:40 PM ET) -- Axis Insurance Co. asked a Pennsylvania judge on Wednesday for a declaration that would prevent it from having to provide coverage to an entity associated with a Philadelphia real estate developer, as part of a soured partnership dispute over several high-value properties in the city.

The insurer said that the policy it issued to PMC Property Group Inc. only addressed the services the company provides as a property manager and leasing agent. It emphasized that a multimillion-dollar lawsuit filed against developer Ronald Caplan and PMC by...
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