Aspen Shuts Down Jane Street's $2.2M Sandy Claim

Law360, Los Angeles (January 8, 2014, 4:21 PM EST) -- A New York federal judge has tossed investment firm Jane Street Holding LLC's suit against Aspen American Insurance Co., ruling the insurer doesn't have to cover the firm's $2.2 million claim over a power generator destroyed by Superstorm Sandy. 

Jane Street sued Aspen in New York federal court in April over Aspen’s refusal to cover $2.2 million in losses incurred when flooding destroyed the firm’s power generator. Aspen motioned for dismissal of the pleadings, saying Jane Street’s property damage policy specifically applied to the firm’s 33rd...
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