11th Circ. Kills Insurer's $4M Hurricane Damage Award

Law360, New York (January 24, 2014, 7:53 PM EST) -- The Eleventh Circuit on Friday reversed a $4 million jury verdict in a coverage dispute over damage to apartment complexes caused by Hurricane Wilma, finding that the property management company claiming the award does not have enough of an insurable interest in the property.

Banta Properties Inc. sued Arch Specialty Insurance Co. in August 2010 after the excess insurer denied coverage for Hurricane Wilma’s October 2005 assault in Broward County. Banta is one of many companies owned by Banta family members, and serves as the property...
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