Condo Builder Sues Insurer For Coverage Of $23M In Repairs

Law360, New York (February 12, 2014, 4:28 PM EST) -- A Florida construction company on Wednesday hit ACE American Insurance Co. with a lawsuit accusing it of wrongly denying coverage for $23 million in repairs the company must do at a Miami high-rise condominium after building flaws caused damage to the stucco.

According to Pavarini Construction Co. Inc., construction began on the 63-story luxury condominium tower in 2005, and ACE American provided a first-layer umbrella policy, with limits of $25 million, and a five-year completed operations extension.

In the fall of 2009, the building owners gave...
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