Insurers Say REIT Can't Seek $20M In Coverage Row

Law360 (March 18, 2019, 8:21 PM EDT) -- Certain underwriters at Lloyd’s of London and several insurers told a Florida federal court they agree with a real estate investment trust that the REIT's suit seeking $20 million in coverage for properties damaged during Hurricane Irma should be arbitrated, but claim they do not owe coverage under the policy.

The underwriters and the insurers, which include QBE Specialty Insurance Co., Lexington Insurance Co. and Indian Harbor Insurance Co., said Friday that the suit from the Florida-based Cornfield Group seeking coverage for hurricane damage to several properties should be tossed as policy exclusions applied to the REIT's claims.

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