NJ High Court To Hear Insurers' $400M Sandy Suit Challenge

Law360 (June 23, 2020, 4:21 PM EDT) -- The New Jersey Supreme Court will dig into a state appellate ruling that puts insurers on the hook for up to $400 million in coverage to New Jersey Transit Corp. for Superstorm Sandy damage on the grounds that the agency's claim is not subject to a $100 million cap for flood losses.

In orders made available Tuesday, the state's highest court granted petitions for certiorari submitted by underwriters at Lloyd's of London, Torus Specialty Insurance Co. and other insurers seeking to overturn the Nov. 18 published appellate opinion.

That opinion — which upheld a trial court ruling in NJ Transit's favor...

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