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...

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