Law360, New York (April 05, 2012, 7:12 PM ET) -- Zurich American Insurance Co. on Wednesday sued Atlantic City's Borgata Hotel, Casino & Spa, accusing the owners of flouting the terms of an insurance policy by refusing to report the value of a new resort.
The policy covered construction of an 800-room hotel, an apparent reference to The Water Club, which was built on the Borgata’s bayfront property during the policy’s 2006-08 coverage period, according to the insurer's complaint filed in New Jersey federal court.
The lawsuit targets Borgata developer Marina District Development Co. LLC, a...
Zurich Says Atlantic City Resort Is Hiding Its Value
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