Non-Owner Of Building Still Insured, 8th Circ. Rules

Law360, New York (August 13, 2010, 4:22 PM EDT) -- A federal appeals court has ruled that an Amco Insurance Co. policy covering a Missouri company's building and its business operations was valid, even though the building was actually owned by someone else, and that the company should not have had to return more than $500,000 to the insurer.

In overturning a lower court decision Thursday, a three-judge panel of the U.S. Court of Appeals for the Eighth Circuit rejected Amco's contention that the lack of an insurable interest in one of several classes of property...
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