NY Developer Says Zurich Policy Offers $7M For Sandy Delays

Law360, New York (November 7, 2013, 5:14 PM ET) -- A real estate developer on Thursday urged a New York state court to hold that $7 million is available under its policy with Zurich American Insurance Co. for financial losses caused when Superstorm Sandy delayed construction of a planned luxury condominium in Manhattan.

El-Ad 250 West LLC has taken a more than $20 million hit from Sandy and brought a suit against Zurich in late August, hoping to force coverage for its losses at a waterfront property in Tribeca, where the developer planned to convert an...
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