Insurer Doesn't Have To Fund Condo Repair: 4th Circ.

Law360, New York (July 1, 2009, 12:00 AM EDT) -- A federal appeals court has upheld a ruling that Amerisure Mutual Insurance Co. has no duty to defend a contractor hired by a North Carolina condominium developer in a multimillion-dollar construction design and defect lawsuit brought by a homeowners association.

Wednesday's ruling in the U.S. Court of Appeals for the Fourth Circuit affirmed an April 2008 order of summary judgment against Breezewood of Wilmington Condominiums Homeowners Association Inc., which claimed the Michigan-based insurer owed it millions in connection with necessary repairs.

The case centers on a...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.