2nd. Circ. Upholds Insurer's Win On NYU Storm Coverage
By Daphne Zhang (July 26, 2021, 4:26 PM EDT) -- The Second Circuit ruled Monday that New York University cannot tap into a general $1.85 billion policy limit with Factory Mutual Insurance Co. for losses sustained during Superstorm Sandy, upholding a lower court's decision that NYU cannot get coverage beyond the $40 million sublimit.
A three-judge panel said it kept intact a Factory Mutual win in New York University's suit for coverage of damages inflicted by Sandy in the school's Langone Medical Center, saying there wasn't any ambiguity in the policy's limit of liability for flood losses. NYU has argued that the policy should cover additional costs relating to its damages...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!